Meme coins and NFTs are arguably some of the most lucrative cryptocurrencies in the DeFi space. Meme coins usually have decimal values below $1, so little increases in their price lead to positively disproportionate returns for people who hold them. However, the bear market has had its toll on the meme token network and the NFT space, deflating the values of both meme coins and NFTs.
HachiFi (HACHI) is an emerging utility token that hopes to have a breakthrough in the DeFi space, just like Shiba Inu (SHIB) did in 2020. But does it have enough to be successful? Let’s talk about this token, its features, and what may make it perform as well as Shiba Inu (SHIB) when it launches.
HachiFi (HACHI) – the new utility crypto
HachiFi (HACHI) token is an upcoming utility token that seeks to make a breakthrough in the NFT space, by providing a platform for users to breed NFTs and swap them easily. It is coined from the Japanese word ‘Hachi’, which means ‘eight’. Nonetheless, it’s intended as a wordplay on the term ‘hatch’. ‘Fi’ comes from Finance.
HachiFi (HACHI) is a cryptocurrency used to purchase virtual eggs on the HachiFi (HACHI) platform. These eggs, when hatched, become unique animal-like NFTs. So, the HachiFi (HACHI) platform is a Tamagotchi-style platform.
Users will have to breed these animals to increase their value to sell them at high prices. Although each NFT is unique, the more well-bred one is, the more value it has.
HachiFi (HACHI) plans on integrating an NFT marketplace in its network, where it will allow its users to mint their NFTs with discounted gas fees. They’ll also be able to swap their tokens for other decentralized assets across blockchains.
HachiFi (HACHI) will also serve as the intermediate store of value during transactions involving other blockchains on the platform. It’s hosted on the Binance Smart Chain, which makes it scalable in the long run.
HachiFi (HACHI) has a capped supply and future deflationary plans. Unlike Dogecoin (DOGE), the pioneering meme coin Shiba Inu (SHIB) contends for the top spot in the dog token family and the meme token network at large. There are currently 1 billion HACHI tokens in the network’s treasury. However, just a fraction will be released into circulation when it launches. Bonuses will also be available during the presale stages. Your first purchase of HachiFi tokens earns you a 20% bonus and your third purchase earns you an 80% bonus.
So, there’s assurance that even though the coin flops at launch, which is quite unlikely, it will increase in value in the long run. It would be best to keep an eye out for this token’s launch, as it could boost your portfolio beyond the bear market.
Shiba Inu (SHIB) is not just a meme coin
Shiba Inu (SHIB) is a meme coin designed in 2020 as the Dogecoin killer and has received massive adoption since then. This widespread popularity is probably because it has been heralded multiple times by the world’s richest man, Elon Musk.
Shiba Inu (SHIB) was created by Ryoshi, a person or group of people that have decided to remain anonymous. Shiba Inu (SHIB) is based on a barrage of memes that erupted from the Shiba Inu dog breed that Dogecoin (DOGE) originates from. Since its launch in 2020, Shiba Inu (SHIB) has experienced several price spikes and is currently the second most used meme coin in the DeFi space.
Today, Shiba Inu generates hundreds of millions of dollars in trading volumes and is a trending favourite on many decentralized exchange platforms. Although the crypto dip has struck Shiba Inu’s (SHIB) price, it shows potential to rise beyond the bear market. And history shows that holding this token for the long run often provides great returns for its users.
HachiFi (HACHI) and Shiba Inu (SHIB) are groundbreaking cryptocurrencies in their respective spaces. While the former hasn’t been launched yet, it shows the potential to lead the market when it does. So buying these tokens now is a great way to set up your portfolio for when the market improves.
To find out more about HachiFi (HACHI) follow the links below:
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.