What is Catecoin (CATE) and Should I Own It?

Catecoin looks to pull ahead of the meme-coin pack through its unique tokenomics, and ambitions to build real usable products to engage their community and stoke demand for the coin. The opportunity to earn passive income by creating memes, playing games, or simply holding the coin long-term makes Catecoin an asset worth looking into.

The Tokenomics and Features of Catecoin

Catecoin is a token that exists on both the Ethereum and Binance Smart Chain networks. On their website, they promote the coin as being deflationary.

The total supply of the coin at launch was 100 trillion. But that number has shrunk and will continue to shrink over time as 1% of each transaction is ‘burned’ from the supply. As of 2023, over 35% of the total supply has already been burned.

The holders of Catecoin also gain additional coins because 2% of each network transaction that occurs is re-distributed back to them. Continually gaining these direct rewards, along with the ability to stake your coins at an Annual Percentage Yield (APY) of 15% make Catecoin an effective way to earn passive income on your investment.

Aside from these passive methods of generating income, you can also get more involved by creating memes and submitting them as a content contributor to the platform. Cat memes are prominent, but creators can choose from a variety of subjects, from relationships to Elon Musk-related memes.

In order to submit memes you must have 100,000 Catecoins in your wallet. If you want to like or comment on a meme, you must hold 10,000 Catecoins in your wallet.

The meme platform makes it easy to interact with other users in the Catecoin community in a fun and easy way, and is an intriguing feature that sets Catecoin apart from its dog-themed meme coin rivals.

If all of those ways of making additional income with your Catecoins weren’t enough, the platform also has a game called ‘Rise of the Cats’ where you can earn tokens by playing, and can use your tokens for in-game purchases.

An NFT marketplace, where submissions with more than 500 likes can be minted into a tradable NFT, is yet another way for users to engage with the community and increase overall activity on the platform.

How to Buy Catecoin and How to Stake It.

Acquiring Catecoin can be done through the decentralized exchange known as

Pancakeswap, and can be directly connected to your Metamask wallet or Trust wallet . Catecoin is also available at gate.io and LATOKEN. Once the coins are in your wallet, you will receive transaction rewards automatically.

In order to earn staking rewards, you first go here, connect your wallet, and stake a minimum of 5,000,000 coins. You must then leave your coins staked for at least 32 days. If you choose to remove your coins before the 32 day mark, you will be charged a 20% fine!

That is quite punitive, but it will make investors less likely to pull out their coins and sell during times of short-term market volatility. A 15% APY reward for staking coins will definitely catch the attention of investors and will also help contribute to the stability of the coin in general.

Catecoin Vs Dogecoin and Shiba Inu

The main points to consider that set Catecoin apart from its meme-coin competitors is the deflationary nature of the coin and the various options for earning additional income.

While Dogecoin and Shiba Inu have both introduced staking options, the rewards received varies depending where the coins are staked, and often falls below the 15% being offered by Catecoin.

The maximum supply of Dogecoin is unlimited, so it would be hard to make a case for it being a deflationary asset. Shina Inu does have a mechanism for burning coins and is very slowly lowering the supply, but the total supply started off at 1 Quadrillion coins! So it will take a lot of coin burning to have a significant price impact.

Catecoin really jumps out among the three because it tries to capitalize off the popularity of memes, particularly those related to cats. Whether or not memes continue to grow in popularity is tough to predict, but a method by which an investor can actually earn profit from a viral meme or NFT is certainly intriguing.

Keep in mind that passive earners will also benefit from a viral meme on the platform even if they are not the meme’s creator. Any uptick in transaction activity is financially beneficial for the whole community of holders.

How has Catecoin performed?

Since 2022, Catecoin has lose about 90% of its value against Tether. In recent months, the decline has stabilized around a price of 0.00000023 USD.

The level of activity on the network going forward, and the performance of the cryptocurrency market as whole will make an impact on the price in the future.

FAQs

What is Catecoin’s purpose?

Catecoin seeks to compete against other meme-coins of the crypto world, but with attractive ways of earning rewards for being a holder or engaged community member. It is the clear crypto option for meme lovers and cat lovers alike.

How many Catecoin are there?

The total supply of Catecoin at launch was 100 trillion. Due to coin burning after each transaction, the total supply is now approximately 65 trillion coins. Of those, there are approximately 34 trillion in circulation.

How do I become a meme creator for Catecoin?

Memes can be created here and become profitable once they receive a certain amount of interaction from other users. You must have 100,000 Catecoins in your wallet to create a meme.

How is Catecoin ‘burned’?

When a transaction is made on the Catecoin network, 1% of the value of that transaction is removed from the total supply of the coin, never to be returned. 35 trillion coins have already been burned in this way.

Where can I buy Catecoin?

Catecoin can be acquired through Pancakeswap, Gate.io, and LATOKEN. While the number of centralized exchanges where Catecoin is available is limited, most large exchanges provide detailed instructions on how to buy Catecoin.

Is Catecoin a good investment?

The future value of cryptocurrency and meme-coins in particular is a tough question, but Catecoin’s deflationary nature and various earning opportunities make it an interesting asset to consider.

If Catecoin can continue to grow its user base and network activity, it could be a worthwhile investment over time. So far the the price of the coin has generally declined.

Final Thoughts on Catecoin

As the meme-coin sector of cryptocurrency becomes more crowded, the methods and marketing used for attracting investors becomes increasingly important. The fact that Catecoin has at least some form of utility, as a currency that is necessary for interacting with the meme and NFT platform, sets it apart from its popular rivals.

Being paid to play a game or make up a silly cat meme has the potential to really get users engaged and to promote the community by word of mouth.

While other meme-coins have historically relied on hype and the endorsement of a certain billionaire, the passive income potential and shrinking supply of Catecoin might just be enough to turn even the most hardcore Doge-lovers into Catecoin people.