Investments in new coins have increased risks. Cryptocurrency creators cannot guarantee its growth.
Against the background of the general rise of digital coins, meme tokens are increasing in value especially strongly. If we look at the dynamics of the last 7 days, we can note: bitcoin increased by 22%, meme cryptocurrencies – on average 3-5 times higher. DOGE went up by 105%, PEPE – by 101%, WIF – by 72%. Such dynamics occurs due to the higher volatility of meme tokens. However, it is too late to buy many coins, as their rates have grown significantly. However, it is still possible to choose a project from the sphere of meme-tokens with an acceptable purchase price. Today we will talk about one of them – Solcat.
Why you can earn a lot on meme-tokens
These cryptocurrencies are extremely popular due to recognizable images and viral spread in social networks. Many projects that were launched as a joke became popular after a while and brought triple-digit returns to early investors.
Meme tokens are quite volatile. Therefore, buying a digital currency with a good entry point can be profitable. Such assets, all other things being equal, are able to outperform coins from other segments in terms of profitability.
Representatives of the BeInCrypto service noted that meme tokens in the first half of 2024 became the most profitable segment of the digital coin market. The average yield of assets from this category for the 1st half of the year amounted to 1834%.
Among the meme coins, projects on Solana: Book of Meme, Brett, Popcat and others were especially popular. They have already managed to demonstrate growth this year.
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Solcat project overview
Among the meme tokens on Solana, it is worth paying attention to the new Solcat project. According to experts, this asset has good prospects, outperforming even Popcat.
Solcat is more than just a meme-token. The project combines memes and a blockchain game. This sets it apart from its competitors. The game is a AAA-runner where the participant controls a cat and overcomes obstacles in the jungle. Along the way, he meets various characters from meme culture. There are many recognizable references to real-life crypto projects and popular memes.
The goal of the participant of the game is to run as far as possible, collecting bonuses and avoiding obstacles. Special power-ups are available – paw power-ups. They allow the participant to continue the path even after he is “killed”. This advantage can play a decisive role when setting a record or when competing with another user.
Solcat also features multiplayer. Users compete against each other. After completing levels and winning competitions, users receive in-game rewards. There is a chance to win real prizes.
Such a competitive element is rarely found in similar projects. Many users note that during the game they have increased excitement. This is a significant plus, as such interest will help to keep the attention of a large number of participants.
Another element of the game is the leaderboard. In it, users can compare their achievements.
Now the team is conducting a marketing campaign, in which the participants who have taken the best positions in the ranking will share the prize fund of $100,000. The more a character has run in the game, the more points can be earned and rise higher in the leaderboard.
Representatives of the startup’s team also promise other activities that will be conducted by the project’s partners. To participate in them, you need to link your account in social network X to the application and read the messages on the Solcat page so as not to miss details. And, of course, actively play, pass levels and gain points.
The project participants expect to be honored with good rewards. If the team provides, for example, the top 1000 best places in the leaderboard, then the users who occupied them will be able to get into the rating and get additional payments in addition to those received thanks to the game.
Solcat has an in-game store. In it, you can buy various items and boosters. The function is similar to paw power-ups, which acts as a revival of the player after “death”.
Roadmap Solcat
It is necessary to look into the roadmap to understand the strategy of the project and its further stages of development. The main ones are:
- Now users can already play and earn points.
- The token presale for early investors will take place on November 18.
- TGE and SOLCAT distribution is scheduled for November 22 On the same day the token will be poured on 3 crypto exchanges.
- The drawing of $100,000 among active participants will take place on November 28.
A longer-term plan includes the creation of a PVP platform where you can play with friends and random opponents one-on-one. You will be able to bet on the outcome of the competition in SOLCAT tokens.
The developers plan to add a tournament mode. Players will compete to set a record and get various prizes. There will also be new maps for gameplay diversity. Thus, each stage of the project development is aimed at attracting users and investors, which will contribute to the popularization of the startup.
Solcat project team
The development team includes former participants of the Heroes of Mavia project – a blockchain game (analog of Clash of Clan) with a capitalization of $47 million, which was created by Skrice Studios. The startup at the development stage received investments from Crypto.com Capital, support from Binance Labs and Animoca Brands.
The team members were rumored to have worked on the launch of a meme token, which received $1bn capitalization.
Thus, developers with a wealth of experience in creating blockchain games and meme coins have created another project that can replicate previous success. Teams with good backgrounds are often much more competitive due to built business processes. Therefore, analysts expect that the project may perform well after the listing.
Whether Solcat is worth buying
Many believe: meme tokens should be purchased at an early stage to do so at an attractive price. As statistics show, it is the early investors who earn the most. When the team improves the game, increases the community, the price of cryptocurrency will also grow, and then it will be too late to buy.
The tokenomics plans to mint 3,333,333,333,333,333 SOLCAT coins. Of these, 35% will be allocated to the liquidity pool, 35% to marketing activities, and 30% will go to players in the form of rewards. Tokenomics is balanced, and a large percentage for participants motivates to continue playing.
The project is quickly gaining an audience. Users expect to see 30 and even 50 “X’s”. For comparison, other Solana meme tokens now give no more than 2-5 “Xs”. Many projects continue to grow only marginally.
When deciding to invest, it is worth doing your own research and testing the project. Solcat could be quite a promising meme token launched on Solana.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
