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Highlights
- Piccolo Inu’s co-founder is said to have addressed the gathering at Crypto Expo Dubai 2022
- A relatively very new entrant in the cryptoverse, Piccolo token has yet to demonstrate utility
- The ecosystem claims to offer NFT minting, wallet, and a gaming verse with play-to-earn
At a time when the mainstream utility of cryptoassets like Bitcoin (BTC) and Ether (ETH) is a subject of discussion among critics, one asset is claiming to have “multi-utility”.
Before we look at this asset and what services the project offers, let’s know how cryptos are faring. The market cap tracked by CoinMarketCap was under US$1.8 trillion as of writing, with BTC unable to go back to over US$40,000 level. Barring a few like KNC token and LEO token, all other top 100 cryptos had a negative year-to-date (YTD).
This shines the light on how risky this asset class is, but still, gains in the past may draw the interest of enthusiasts.
What is Piccolo Inu cryptocurrency?
Like most other crypto projects, Piccolo Inu claims to offer certain products and services. It appears to be focused primarily on non-fungible tokens or NFTs, with its Piccolo Pad. It is said to provide minting services, besides facilitating the launch of new project tokens. Piccolo Inu also has a metaverse offering. The gaming verse, it is claimed, can offer multiple play-to-earn games.
The ecosystem is said to also include wallet services for storage and data tracking purposes. The project claims to support staking of tokens, besides proving crypto farming facilities.
Also read: What is Plutus crypto debit card and how has PLU token fared?
Similar to some other projects like Axie Infinity, Piccolo has in-house NFTs. These 8,888 “3D” NFTs are based on Ethereum’s network. Piccolo’s gaming verse is being projected as a metaverse that can be customized by users. The project seems to be using the popularity of ‘Shib’, in that it claims its Piccolo is a Shib. Shiba Inu or SHIB token is a separate large cap cryptoasset.
Piccolo Inu token
Piccolo Inu’s litepaper says that Piccolo token (PINU) is an Ethereum-based ERC-20 coin. It is claimed to have a maximum circulating supply of 100 trillion tokens. Piccolo Inu project says the PINU token would have utility within its “incubating” ecosystem.
Also read: What's next for Cronos crypto as it declines 10 per cent?
Piccolo Inu crypto price
PINU token is a very new crypto, launched in October last year. During its early phase, Piccolo Inu had manifested an upward movement. However, the price has remained highly subdued this year.
As of writing, Piccolo Inu traded at nearly US$0.000000037. The 24-hour trading volume was close to US$80,000, which is very less as compared to tokens like BTC and SHIB. CoinMarketCap has included Piccolo Inu among top 5,000 cryptoassets. The top asset BTC has also not performed well this year.
Data provided by CoinMarketCap.com
Bottom line
Piccolo Inu, claiming to be an incubator for new tokens and NFTs, is a new entrant in cryptoverse. The token has yet to find a place among top 100 or even top 1,000 assets. Piccolo Inu price prediction could be extremely speculative considering its volatile run so far.
Also read: Explained: How many types of cryptos are there?
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