With cryptocurrency, you have the chance to make a fortune. The industry is still very much in its early stages and has the potential to grow faster than any other significant industry on the planet. Countless people made billions last year thanks to the meteoric rise of The Metaverse and NFTs.
However, the meme currency pair Dogecoin (DOGE) and Shiba Inu (SHIB) tend to absorb most of the attention.
Several other projects have come and gone with the wind since then, and one project that seems to have caught the eye of the crypto world is Parody Coin (PARO). This new token is planning on revolutionising the meme crypto sector.
Dogecoin (DOGE) was developed in 2013 as a parody of Bitcoin by Jackson Palmer, an Adobe engineer from Sydney, Australia (BTC). The Shiba Inu dog meme is used in Dogecoin, an open-source, peer-to-peer cryptocurrency.
In 2021, DOGE had a large following of ardent fans on Reddit and Elon Musk’s public support, which helped it skyrocket in value by about 10,000 percent in less than a year.
In 2021, an unknown developer created Shiba Inu (SHIB), a potential competitor to DOGE, on the Ethereum (ETH) network using the same image of a Japanese Shiba Inu dog. By October 2021, the value of this currency had risen tenfold, and the SHIB token was listed on the majority of cryptocurrency exchanges.
Elon Musk, too, got on the Shiba Inu frenzy and posted about it constantly, initially pushing up the asset’s price by 300 percent. Even though most experts consider the SHIB token a speculative investment, all meme currencies are speculative.
However, the coin has some value as part of its native ecosystem, supporting NFTs and a DeFi platform via the ShibaSwap safe cryptocurrency trading environment.
Most of the cryptocurrency industry, including DOGE and SHIB, got off to a shaky start in 2022. However, because cryptocurrency trading is cyclical, both meme coin juggernauts should return to their 2021 highs shortly.
Parody Coin (PARO) has officially commenced its presale in the meme coin universe. In the Parody Coin universe, people have several ways to make money. Those who have invested in presales can acquire coins at a lower price and sell the tokens at a greater price when the value rises.
The token is a deflationary utility coin serving as the Parody Coin Ecosystem’s native currency. The Parody Token simplifies the minting, trading, and marketing of parodies of popular NFTs but also has many additional advantages. Developing an NFT marketplace that will allow users to produce spoof NFTs is now underway. These are clones of well-known NFTs that may be purchased with PARO tokens. The goal is to make NFTs accessible to everyone.
With Parody Coin, users may exchange tokens and connect networks. People will be able to transfer their crypto tokens into PARO and vice versa via ParodySwap. The ParodyBridge allows you to transfer your tokens to other blockchains, where they can be exchanged and acquired. Thanks to the reward structure, all Parody Coin users can earn a passive income, as 2% of each transaction on the network is distributed fairly among active PARO wallets, offering a strong incentive to hold long-term.
The PARO token may also be staked to aid network security, earning holders additional incentives. Keeping Parody Coin in your wallet might win you millions of dollars in the long run. The founders want to profit from the meme money trend, following in the footsteps of Dogecoin and Shiba Inu.
The post Can Parody Coin ‘PARO’ Achieve the Same Success As Dogecoin ‘DOGE’ & Shiba Inu ‘SHIB’? first appeared on ChimpReports.