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Highlights
- Based on the Binance Smart Chain (BSC), MARVIN crypto is a BEP-20 token.
- The MARVIN crypto is named after Tesla boss Elon Musk's pet dog, which has surged by 5,207 per cent to US$ 0.27 per token.
- The MARVIN crypto claims it wants to emerge as the leader in dog-based meme cryptocurrencies.
Major cryptocurrencies like Bitcoin and Ether continued to trade at discounted prices on Monday, December 13, at the time of writing. Meanwhile, a small cryptocurrency named after Tesla boss Elon Musk's pet dog has surged by 5,207 per cent to US$ 0.27 per token.
Launched on October 11, 2021, Elon's Marvin (MARVIN) cryptocurrency caught investors' attention since the beginning, and it is named after Mr Musk's Havanese dog Marvin.
According to CoinGecko data, the MARVIN crypto surged 116.4 per cent in the last 14 days, and today's meteoric rise has left crypto enthusiasts wondering about the meme-based cryptocurrency.
What is MARVIN crypto?
Based on the Binance Smart Chain (BSC), MARVIN is a BEP-20 token and a meme coin. According to the cryptocurrency's website, MARVIN crypto aims to become best friends with 'brother' Floki, a Shiba Inu dog.
Also Read: What is BAX crypto & why has it soared 6000%? Know its price prediction
The MARVIN crypto claims that it wants to emerge as the leader in the dog-based meme cryptocurrencies, surpassing Dogecoin, Floki Inu, and Shiba Inu.
© 2021 Kalkine Media
The tokenomics of MARVIN crypto is as follows:
- Four per cent of every transaction is for liquidity, and it can withstand the effects of significant sell-off and make the MARVIN crypto whale-proof.
- Two per cent is for rewards to holders of this cryptocurrency, and two per cent is the marketing fee on every transaction. If required, the marketing wallet can burn tokens and increase the value or liquidity of pancakeswap.
Marvin crypto gained 5000%. Is it legit ?
Bottom line
According to Binance, the world's largest cryptocurrency exchange, anyone can use the platform to create a BEP-20 token on BSC. The website mentions that people can also create fake versions of existing tokens.
Also Read: What is FoxBoy crypto & how to buy this token?
As it is a very new and speculative cryptocurrency right now, the MARVIN crypto's price is expected to remain volatile. Despite the meteoric rise in its price in the last 24 hours, the MARVIN crypto was still 61 per cent down in comparison to an all-time high (ATH) of US$ 0.65 apiece.
As meme coins have gained traction in the past few months, the MARVIN crypto is getting the attention of investors. This could be because its name is associated with Elon Musk, and he is an influencer among the crypto community.
