ESTEE is among the cryptocurrency tokens that have a resemblance to the Shiba Inu dog while trading in the digital asset marketplace, has continued to experience massive trading activities, coupled with a register price hike. The token that derives its name and idea from a genuine Shiba Inu dog called Estee has gained the interest of the Elons and stock CVC hunters.
The token price of ESTEE based on the reports of the current market situation shows that it is currently at $0.054866 which has so far raised by 16.12% within the interval of the 24hrs period. This upward movement has therefore placed ESTEE as the 3238th most popular token in the entire cryptocurrency market round the globe and increasing demand for it.
As of now, ESTEE market capitalization is $2.05 million, implying the total circulating supply of tokens available in the market. Most significant is the trading volume, which hit $278,350 on the last day, a 77.04% increase. This means that the demand for, as well as trading activities involving the token, is increasing and hence enhancing token liquidity.
Due to this, ESTEE tokenomics feature scarcity and more importantly, the engagement from the community that it serves. The total amount of ESTEE tokens to be created and issued is 420.69 billion with the whole amount in circulation at the moment. This is apparently a measure designed to lead to reduction of inflation and may equally go a long way in supporting the value of the token in times to come.
The idea behind the project behind ESTEE is that it is associated with the breed Shiba Inu, which is real. The token’s namesake, Estee, belongs to Irina Valko, and to ensure that this connection is real, the project is equipped with pedigree records and professional photos. This approach provides credibility to the project, which is quite unique given the nature of meme-associated coins that exist in metaverse space.
To elaborate, concerning the development of ESTEE, the mentioned and focused factors of this platform include the following parameters: the transparency of the platform’s development team and integration of the community into the development of the platform. The additional activities foreseen for the project are collaborations with Shiba Inu rescue and care foundations, information campaigns and outreach programs, and community fun and fundraising events. These plans, in theory, want to build more value around the token, potentially leading to better value and special usage.
The trading volume to market capitalization ratio, another significant variable for the token’s activity and liquidation, now stands at a remarkable 13.60%. This high ratio indicates good trading interest compared to the market capitalization of the token, and we can deduce that in the short term, this is good for prices.
However, it should be noted that such types of cryptocurrencies as ESTEE, including those that refer to popular Internet art and cultural references, can often be very sensitive to fluctuations in price. These are the irregular volatility of the token, with a maximum value of $ 0.000026250 and a minimum value of $ 0.000002160. This large spread underlines the prospect of both rapid revenue expansion and sharp loss-making.
To stand out in the congested cryptocurrency space, the ESTEE project plans to employ the principles of decentralized community decision-making. Being an organization-centered token, it utilizes blockchain technology to build an open network where token owners may have the capability to alter the project.
The overall advance of this token could indeed be really interesting to plain investors and various advocates of computer crypto money projects alike because ESTEE’s status is far from neutral, at least currently, thanks to its open call for meme-like commoner participation and heavy reliance on such approaches, not to mention the current mania for community-oriented tokens. The use of a real Shiba Inu as opposed to pixel art really grounds the project and makes it stand out from many other crypto projects while also fitting in with the recent trend of projects with real-world ties or use.
Just like any other cryptocurrency investments, the buyers of the ESTEE token should perform their research and understand the risks involved when investing in cryptocurrencies. With relatively small market capitalization compared to larger cryptocurrencies, the price of the project’s tokens by its nature could fluctuate drastically and possess relatively high liquidity risks.
The recent movement of ESTEE’s price and the rising trading volume indicate signs of interest from the community, although more challenging for this project will be its ability to sustain and even extend the current interest while offering the platform’s adoption possibilities and the intentions to engage the community actively. Looking to the future of the crypto market development, projects like ESTEE and similar will be of interest to observers of meme culture, decentralized communities, and blockchain trends.
All in all, ESTEE appears as an exciting novelty within the vast territory of meme-based token projects founded as a tribute to a now-iconic internet meme as well as some or other animal, together with its emphasis on the aspect of its related social interactions and communication protocols. It has gained much attention due to its recent price hike and high trading volume; however, similar to any other crypto asset, its future performance highly depends on generating – and sustaining – utility and demand for its native token.
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