Since Bitcoin (BTC) and other cryptocurrencies have divergent development rates, there is an imbalance in the ecosystem of digital currencies. The cat-themed meme currency ChitCAT, whose price is presently $0.1558, has increased by a staggering 35% in response to the general market unpredictabilities.
A decentralised messaging decentralised application (dApp) based on blockchain technology and the Inter-Blockchain Communication protocol (IBC) was developed using the odd meme coin known as ChitCAT. ChitCAT was created with the specific purpose of providing its users with an anonymous and secure method of communication that would allow them to send messages, make calls, and conduct video conversations using just their wallet addresses.
When contrasted to the plethora of dog-themed coins like Dogecoin (DOGE) and Shiba Inu (SHIB), as well as the frog-themed phenomenon PEPE, this meme currency stands out due to its fundamental mission statement. These more established coins improved their ecosystem utilities over time, giving ChitCAT a unique start edge.
Although the price movement ChitCAT is displaying right now is one of its most significant since its launch, questions are starting to arise about whether it will be able to surpass the heritage of Dogecoin or even PEPE in the long run.
Token supply advantage
ChitCAT may be a young currency with a developing community, but the tokenomics of memecoin are more growth-oriented. The meme currency is aiming to use the low-supply and high-demand concept to chart an ambitious growth curve over time with a total quantity of just approximately 10,000,000 CHITCAT tokens.
While the underlying aims, ambitions, and tokenomics seem solid, defeating Dogecoin’s legacies would need winning over influential figures in the tech industry, such as Elon Musk, CEO of Tesla and Twitter, and Mark Cuban, owner of the Dallas Mavericks. A token’s growth cannot be dependent on an anticipation of Musk’s backing since doing so is impossible.
