Memecoins such as Dogecoin, Shiba Inu, and others have been doing well despite the bearish crypto market. Another meme coin that has been on everyone’s lips lately is the Vita Inu.
Vita Inu made the headlines in August when many crypto assets turned the red indexes. It was as if the Vita Inu coin is vital to the success of everyone, the price skyrocketed by almost 200%, and this seems to be the track it’s treading in the future.
If you have not heard about this latest meme coin, you will learn one or two things about headline hugger. But before then, let’s learn more about meme coins.
What are Meme Coins?
Memecoins are cryptocurrencies created as parodies of other main tokens or as a new project. As its name implies, meme coins are major” memes” of other existing coins.
Memecoins are making waves in the crypto space today. Thanks to influencers and hype, these coins have been on the investors’ list.
Since DOGE has been created as a parody of bitcoin and has had its fair share of success in the crypto market, other meme coins have been created. Tesla & SpaceX CEO, Elon Musk, has played a huge role in the growth of some of these coins via cryptic tweets on Twitter.
Some of these meme coins are also categorized as ”shitcoins” as they lack real value like other top digital assets. Today, meme coins have risen to the summit of the list of top 10 market values, competing with mainstream cryptocurrencies.
Why Investors Consider Memecoins
Memecoins such as DOGE has been part of some investors’ list due to several reasons. Some of these reasons are discussed below.
- They are best for beginners– Crypto coins such as DOGE, and SHIB are best for crypto beginners. Their enormous volatility will help new investors to know what crypto investment is all about as it can skyrocket or dive within a matter of minutes. This is required to have a strong mindset which will help to weather the storms in crypto investment in the long run.
- They have exciting features today– DOGE for example has a brilliant feature called the Scrypt algorithm. This facilitates much faster block creation, making it solve one of the shortcomings of its model, Bitcoin.
- Some have a credible store of value– Dogecoin, which was created as a parody of Bitcoin has a more credible value. Its mechanism is rooted in its intended usage as a highly accessible P2P method of exchange. It also prevents long-term holding diminishes circulation & minimizes transaction fees.
- They are becoming mainstream– Dogecoin is becoming more popular and has been widely accepted as a medium of exchange in our world today. SHIB is not lagging as the meme of Dogecoin too. Several businesses including Elon Musk’s Tesla company are now accepting Dogecoin as a form of payment. This has been a boost for the crypto community.
- Some have an element of a real coin– Meme coins are generally categorized as shitcoins. DOGE, which is the number one meme coin has however roamed between being a real coin and a shit coin because of its features. The fact that it was hyped by influencers to stay on its feet makes it a shit coin in the other way.
What is Vita Inu (VINU)?
Vita Inu is a tokenized meme coin with a high TPS and smart contracts that are based around dogs. It is the governance token of the VINU Ecosystem and is the native token of the Vite DAG chain. VINU is the world’s first fast, feeless (and cheeky) token.
The token’s guiding principles include having fun, meeting new people, and learning about day-to-day technical advancements.
Vita Inu seeks to play its part in building large DAG ecosystems where various cryptocurrencies may be moved around freely, securely, and efficiently.
The Vinuverse is under development and will comprise of a full VR World, the VinuSwap Dapp, NFTs, Staking, Rewards, Events, Merch, and much more.
Why the Buzz About Vita Inu (VINU)?
Crypto projects are always created to solve problems. VINU on his own is also different from other meme coins. VINU says most cryptos are all bark and no bite, but it offers perks that disrupt the new meme economy.
VINU aims to do this with features that include zero fees, light-speed transactions, smart contracts, and high scalability. Through VINU, both new and seasoned cryptocurrency advocates may learn about various cryptocurrencies and how they may be bridged and connected in a fun way.
Today, VINU has risen in popularity and is growing fast like the earlier and bigger meme coins, i.e. DOGE & SHIB.
What is Vita Inu’s Worth in the Crypto Market?
The buzzing meme coin trades by the symbol ”VINU”. According to CoinMarketCap, the live Vita Inu price today is $3.47e-8 with a 24-hour trading volume of $3,941,041.
It is ranked number 659 out of thousands of crypto assets. VINU has a live market cap of $16,051,351. It has a circulating supply of 431,189,617,332,775 VINU coins and a max. supply of 978,854,006,971,287 VINU coins.
Vita Inu spiked during August, making it one of the top altcoins to grow fast.
Is it Safe to Invest in Vita Inu in 2022?
Investing in cryptocurrency is the riskiest form of investment. As you can earn big so it is with not get any return on investment.
As for VINU, investors need to be careful despite showing the potential of an awesome crypto asset. It has a had sharp increase but purchasers are wary. Experts say that VINU’s impulse wave is over-stretched, indicating that things moved along a little too quickly and that a price correction is now to be anticipated.
After losing a key support level of a symmetrical triangle, Vita Inu has already reversed course and is currently moving toward the 0.618 Fibonacci support zone.
Customers should therefore keep investigating and examining the cryptocurrency markets before investing. Established meme coins such as DOGE, SHIBS, or even TAMA could be a better option because they have weathered some storms in the industry and are still standing.
