Amidst the various changes taking place in the cryptocurrency space, there is a new addition that really got the interest of people who participate in the new economy. Freakoff, with Freak as its ticker token, has had an incredible increase in value and trading volume, adding it to the list of meme coin competitors.
FREAK on the other hand is currently at $0.0003825 which of course is quite a big 29.57% within the last one day. It has achieved an upward movement which has placed the token in 4,585th place in the global cryptocurrency rankings and all of this within a short time of entering the market.
While analyzing Freakoff’s capitalization, investors can observe an upward trend in investments in this relatively young token; Freakoff’s market capitalization is still $382,510. This number may barely be a blip on the radar of genuine crypto behemoths, but it has the potential for explosive growth in a space that is still in its infancy and remains one of the most volatile and unpredictable areas of finance.
We also see a massive raise of the 24h trading volume recently – $17,060 which is 87.04% higher than the week before. Fortunately, when the total trade increased, the trading volume also rose, showing the people’s liquidity and interest in token thanks to its positioning and promotion strategy.
If considering Freakoff’s token, then, the token economy is optimized with the idea of the maximum supply set at 1 000 000 000 FREAK tokens. Surprisingly, the maximum supply is equal to the current total supply which means all tokens in circulation have been created. This is similar to the scarcity principle as implemented in the case of Bitcoins since this factor was deemed to have a positive effect on the longevity of prices for the product.
The self-reported circulating supply also stands the total supply at 1 FREAK being 1 billion, hence showing full honesty in distribution of the tokens. These three are some of the components common when it comes to tokenomics and seem to balance the total supply with the maximum and circulation supply which is something that usually helps investors to quickly jump to the project without any confusion.
Analyzing the Freakoff specific’scurities volume – to – market cap ratio, we see that it is fair high at 4.46 %. This factor is usually employed by traders in their bid to determine levels of trade and interest in a particular crypto asset.
Like many new age tokens particularly those in the meme coin category, Freakoff has been subject to a very sharp price rise something that has attracted some speculative investors in the market. However, to those who plan to invest in the meme coin category, they should do so with great caution, owing to the fact that meme coins have always been associated with volatility.
The developers behind Freakoff have been quite responsive in the community across different social media platforms, which is a great virtue in the development of meme coins. Its emphasis on decentralization and organic growth and promotion correlate to other meme coins’ successful playbooks that have experienced massive pumps and dumps.
While the crypto ecosystem was rapidly developing, tokens like Freakoff are one of the examples of its further development and expansion. Whether Freakoff will be able to grow up to a large player in the sphere of meme coins or remain a product of local interest is still yet to be observed. However, its present statistics and overall idea attract users and investors who are looking for the next big hit in the crypto industry.
Finally, having looked at Freakoff developments, which have been active in the market in recent months, one gets a picture of a cryptocurrency with some potential for further development. To compare, the great rise in its price, growing volume in trades, and a rigid uppercase pattern might offer investors an appealing option should they wish to expand their crypto holdings. However, as with any investment in the turbulent market of cryptocurrencies, initial and recurrent examination of the rationale for investments and potential risks cannot be overestimated.
As we continue to experience further changes of decentralised digital currencies and cyptocurrencies, Freakoff is another initiative that speaks volume of the crypto revolution. Whether it will continue its current pace or slowly decline into oblivion only time will tell but for now, it has left a definite mark on the constantly growing world of cryptocurrencies.
+ There are no comments
Add yours