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After the launch of Doge coin, several other meme coins emerged one among them is Catecoin. Recently, if you're active on social media platforms you might have come across people talking about this coin.
Cate coin is a Decentralised meme platform, where people get rewarded through catecoin for better memes. So, you just have to post a good meme in order to get rewarded. Apart from that, the team decided to distribute the supply of the coins equally in order to maintain the decentralized ecosystem.
The team also compared CATE coin with DOGE coin and stated they are better as CATE COIN offers limited supply with hodl and earn. The Catecoin started in a way to appreciate the meme community by giving rewards and also maintaining a decentralized way of supply to maintain the market value.
Even though the people are not ready for another meme coin as it is, we happened to see some pump and dump coins just for the sole purpose of earning money and not providing a purpose to the coin. While the coin looks so cute that would attract any people but recent scams make people hold back in engaging with another set of meme coins.
Creating a decentralized meme coin is not so easy, you need to make people use it. In order to gain people’s trust, a coin has to create a foundation and grow from it. In the case of doge, it was created in 2013 and with a lot of people’s words and TikTok trends involving Elon musk, such as a roller coaster journey DOGE coin. Not just DOGE, even other institutional-based crypto coins needed time to grow. I am pretty sure that 50 % of the recent crypto-investors find their way to the Cryptomarket by DOGE coin and the trend it created. Also, The corona lockdown made people involve themselves in learning and investing in cryptocurrencies.
Will the Catecoin rise like a DOGE coin? It's in the hands of the people and the community. And am pretty sure it will take certainly a lot of time to grow and jump into dollar level market. Let's wait and see how the coin turns out to be. In today's trends, everybody is taking steps slowly towards NFTs and meme coins. It's just soon to decide with the cate coin as it's not even months old. Keeping an eye on the coin won't cost anything.
