Why is UFC supporter Marshall Rogan (MRI) crypto rising?

Highlights

• The Marshall Rogan Inu project is named after the dog of podcast host Joe Rogan. 
  
  
• Based on the Ethereum blockchain, the MRI token aims to support the UFC fighters.
  
  
• The token is up around 50% in the last 24 hours to Wednesday morning.

The Marshall Rogan Inu (MRI) token has added nearly US$100 million in market capitalization in less than three weeks. Marshall Rogan’s Twitter followers jumped to nearly 10,000 since it joined the social message platform last month. So, why is the token gaining traction?

The token was up around 50% to US$0.09735 in the last 24 hours to 7:00 am ET. It grew about 262% in one week and 215% since February 14, the oldest closing price on coinmarketcap.com.

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The MRI token’s recent rise could be due to the backing of several famous former and active UFC (Ultimate Fighting Championship) fighters, including Bobby Green and Roxanne Modafferi. 

They have openly backed the Marshall Rogan crypto project.

At a time when scams are common, such celebrity validations may work wonders. Lately, the crypto community has been growing leaps and bounds despite scams and high market volatility.

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Data Source: coinmarketcap.com

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What is Marshall Rogan Inu (MRI)?

The Marshall Rogan Inu project was named after the dog Marshall Rogan, whose owner is Joe Rogan, the famous podcast host, internet personality, and UFC commentator. 

The eye-popping crypto themes have become the buzzwords among fans. For instance, dog-themed meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have also gained strong traction.

In a blog post, Marshall Rogan said its community members are committed to standing up against censorship and fighting for UFC fighters' rights. However, the community members behind the project are unknown.

The MRI token is based on the Ethereum blockchain. It aims to support the UFC fighters in their fight for fair payment. The project aims to pay fighters during their training and events.

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Why is UFC Supporter Marshall Rogan (MRI) Crypto Rising?

How does it work?

The project intends to pay for fighters’ training, fight camps, nutrition, and injuries. 

It also plans to make cryptocurrency donations to research facilities to help athletes cope with severe injuries like brain trauma, psychological trauma, etc., caused during fights.

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Recent Developments

The company claims to have accomplished several important tasks such as sponsoring fighting gyms and MMA events, life-changing financial assistance, and partnership with Mystic Bets.

Under Phase 3 of the project, it plans to sponsor MMA competitions, place ads on public transport vehicles and billboards in major cities, partner with leaders in the crypto space, collaborate with marketing agencies, etc.

Marshall Rogan currently has more than 5426 token holders.

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On March 7, it plans to get listed on the BitMart exchange. It will give the MRI token a broader reach in the crypto space, especially users who prefer centralized exchanges. BitMart is a centralized exchange launched in 2018 and has offices in the US, China, Hong Kong, and Seoul.

The token has a high tax rate. For buy transaction, it is 10% (5% marketing, 3% liquidity pool, 2% development), and for sell, it is 15% (10% marketing, 3% liquidity pool, 2% development).

Its current market cap is US$95,275,030, and the maximum supply is 1.0 billion.

Marshall Rogan Inu (MRI) token is currently available for purchase on Uniswap (V2).

Bottomline

The company hopes to attract more buyers by listing on different exchanges. According to its blog post, around 5% of the total supply is burnt forever. The new listings will necessitate the burning of more tokens, resulting in their higher valuation. The crypto market is volatile. Hence, investors should exercise due diligence before investing in the cryptocurrency market.

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