SHIB Trading Volumes Spike As Interest in TOADS and Meme Coin Sky Rocket
The rallying prices of several meme coins over the past few weeks are hardly surprising, given how they have been among the most sought-after digital assets globally. The recent meme coin to hit the headlines with its impressive market performance is Shiba Inu. The spike in its trade volume has triggered an interest in other leading meme coins like DigiToads (TOADS). Powered by the Ethereum network, DigiToads is a top altcoin that leverages a hybrid decentralized finance (DeFi) model and allows its users to explore varying opportunities for earning passive income.
DigiToads: The utility of three tokens in one cryptocurrency
DigiToads has been designed as an all-rounder crypto project with limitless potential. The platform provides you the opportunity to access multiple ways to boost your passive income. These options include staking, trading, playing Web 3.0 games to win crypto tokens, entering prize draws, and getting tokens for actively engaging with the DigiToads platform. The platform’s native token is TOADS and it’s the primary crypto coin of the network.
Analysts are calling the TOADS token among the best new icos of 2023 because of its versatility. For starters, it has a deflationary model. Hence, token holders don’t have to be concerned about frequent price fluctuations impacting the token’s performance. In a deflationary token, the token supply is adjusted by burning all extra tokens in circulation. The limited token supply will reduce price fluctuations and keep its value stable.
Another important use of the TOADS token is that it can be used for securing voting rights. With a decentralized structure of governance, DigiToads’ token holders are encouraged to express their concerns and suggestions and voice their opinion via these voting rights. Whenever a community member floats a proposal, token holders can vote for these proposals with their voting rights.
What many analysts like about the platform is how easy it is to learn about cryptocurrency trading for beginners with DigiToads. Be it the play-to-earn game or staking mechanism, crypto users can hone their skills to become more confident with the opportunities. If you would like to improve your trading skills, you can participate in DigiToads’ monthly trading competitions.
These contests reward the participants for booking the highest trade volume in a month. An additional reward is a chance to train under the DigiToads team to learn about managing the platform’s treasury. After becoming more proficient at the task, they will get a chance to help the team with the task.
With an eye on the future, the DigiToads team has planned several projects that will ramp up the platform’s reach and boost its growth. For starters, it will be launching an official merchandise range. The proceeds collected from the sale of the merchandise would be donated to organizations working to conserve the environment. These organizations will be picked out by the community members. The team would also donate 2.5% of the annual profits to organizations that are involved in efforts to preserve rainforests across the globe.
Shiba Inu bags yet another exchange listing
Shiba Inu is a leading meme coin that can be credited for making dog-themed cryptocurrencies a major trend. It’s based on memes of a Japanese dog breed and is an immensely popular meme token across the world. Though its native token is SHIB, the Shiba Inu team has launched two other cryptocurrencies – BONE and LEASH. Shiba Inu was recently in the news after it landed a new crypto exchange listing with SBI VC Trade. The SBI VC Trade is a decentralized exchange and a subsidiary of SBO which is a financial holdings firm based out of Tokyo. The move is likely to increase the SHIB token’s exposure to Japanese markets.
Conclusion
If you are still wondering about what crypto should I buy, always consider a token’s growth potential before making a final decision. There’s a lot of debate about which meme coin has a higher growth potential – Shiba Inu or DigiToads. If you ask analysts, most of them are likely to recommend DigiToads as it has a hybrid DeFi model where one can access multiple ways to earn passive income. These opportunities not only boost your current earning but can also be turned into a steady source of passive income. As far as prospects go, analysts are claiming that the TOADS token has the potential to register huge gains once it gets exposure to mainstream exchanges.
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