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Highlights
- Dubbed as a rival to Shiba Inu and Dogecoin, the CATE token is a cat-themed decentralized meme-based cryptocurrency.
- Launched in May this year, CateCoin started adding value to the meme world by allowing meme creators to earn with their memes.
- According to the project's website, meme creators need to purchase five million CATE tokens to get on the platform.
One of the cryptocurrencies gaining investors' attention over the past few weeks is CateCoin (CATE). The cryptocurrency soared 54 per cent in the last 24 hours.
Dubbed as a rival to Shiba Inu and Dogecoin, the CATE token is a cat-themed decentralized cryptocurrency, and it provides a platform to meme makers.
Is Shiba Inu & DOGE's rival CateCoin set to explode? Know price prediction
The past few weeks have been good for meme coins. For example, the Shiba Inu token recorded one breakthrough after another, and even Dogecoin gained momentum. On that note, let's explore the latest meme coin and find out more about it:
What is CateCoin?
Launched in May this year, CateCoin started adding value to the meme world by allowing meme creators to earn with their memes in a decentralized way.
Developers can use the decentralized finance (DeFi) platform to create memes and reward other meme creators. CATE is the native token of the platform that can be used to pay developers.
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Expressing joy over the increased attention of crypto enthusiasts, CateCoin tweeted that it is now a family of 90,000 holders and is among the top 300 cryptocurrencies in CoinGecko, a crypto platform.
Also Read: EverGrow crypto set to explode in 2022? Know price prediction
As memes are quite popular among youngsters, this space could attract more people in future. Keeping the popularity of non-fungible tokens (NFTs) in mind, the platform also allows users to convert their memes into NTFs.
According to the project's website, meme creators need to invest in purchasing five million CATE tokens to get on the platform to create and post memes. However, as the price of a single CATE token is cheap, it remains affordable for many investors.
Shiba Inu & DOGE's rival CateCoin set to explode? Know price prediction
Bottom line
According to CoinGecko data, the CateCoin crypto clocked an all-time high (ATH) on Tuesday, November 2. It reached US$ 0.00000818 per token and was trading 4.7 per cent lower in comparison at 6 AM EST.
In the last 30 days, the CATE token has soared 8482 per cent, and it could set new highs in future as it continues to witness a bullish momentum.
Also Read: BitUp soars over 800 million per cent in 7 days. Too good to be true?
