Whether by luck, good timing, or a fundamental belief in decentralized finance, hundreds, if not thousands of people, bought large amounts of Bitcoin and still hold them to date. As they are commonly known, Bitcoin whales exert significant influence over the market, with their activity influencing prices.
Bitcoin whales are always on the hunt for the next big thing. Many of them are now circling DigiToads, a unique memecoin that offers utility to users. The activity of whales is felt even for major coins with significant liquidity spread globally. Therefore, their entry into the memecoinspace with interest in DigiToads is noticeable.
This project is currently conducting a presale as it looks to proceed toward full launch. DigiToads is fast gathering momentum in the memecoin space as it looks to dislodge more established competitors.
At press time, DigiToads had raised over $4.25 million in the presale, which only commenced recently. This amount indicates the interest of some significant players in the crypto landscape in this emerging memecoin.
It might have a lot to do with DigiToads gradual increase in token pricing through the presale as it prepares for launch. Since the token sale started, prices have risen over 140%, with more planned increases in the pipeline. As they say, the early bird catches the worm. Crypto whales who have bought TOADS tokens are probably looking at the big picture in acquiring the coin in its early stages.
Memecoins are having a moment; again. Those who followed the last crypto rally two years ago remember how Dogecoin blew established projects off the ballpark in a short window. Well, Pepecoin has had a significant surge in the past month before tapering off a week ago. DigiToadsseeks to take up the mantle and take memecoins up a notch.
The key to DigiToads aims is the addition of utility to the standard operating procedure of memecoins. Typical memecoins ride on the meme's popularity. it is pegged on to its logical conclusion. Pepecoin is a subset of the “Pepe the Frog'' meme that has been a staple on the internet for a decade or more, especially on right-wing chat boards. This token took up the notoriety of this meme and got hot a few weeks ago, and has experienced some correction lately.
For DigiToads, the meme aspect holds but is not the end all be all of the projects. The team behind the project conceptualized a pay-to-earn (P2E) gaming ecosystem with the TOADS token at the heart of this ecosystem. TOADS is an ERC-20 token, meaning broad compatibility with Ethereum wallets and ease of trading.
The game itself takes place in a swamp metaverse where toads live. These toads catch flies for their nourishment and engage in various battles to secure their habitat. The battles can be intense, and the player must ensure they nourish their toads to be as strong as possible in preparation. Success in these battles means rewards to the player in the form of TOADs hence the play-to-earn concept.
Additionally, the players have a chance to accumulate several Non-Fungible Tokens (NFTs) collectibles as they navigate the game. These NFTs are unique and have inherent value. To protect the value of the NFTs collectively, DigiToads allows gamers to stake their NFTs in exchange for a small percentage of TOADS transaction fees collected by the project. Staking TOADS is also an option to ensure that one can participate in project governance moving forward.
Governance will be through a decentralized autonomous organization (DAO), ensuring DigiToads retains a distributed network governance model. Besides sustainable governance, the project also has a commitment to real-world sustainability, with some of the profits donated to charities committed to saving rainforests.
In an ocean, the big fish change the behavior of other fish when they come into an area. Whales may not have the stereotypical fear of sharks but are large enough to cause a reaction in the surrounding waters.
Whether you think the role of crypto whales in the markets is positive or not, there is no doubt that their activity moves markets. For instance, the activity of the four biggest Bitcoin wallets that collectively own over 3 % of all Bitcoin in circulation is enough to tilt markets. Notably, these four are rarely active and have not rocked Bitcoin prices as much as possible. Interest in a new token like TOADS is an endorsement of the fundamentals of this project. The markets will certainly be watching this space for their subsequent moves.
Whales purchasing TOADS tokens is indicative of the potential of these projects. Rarely do these crypto powerhouses act for charitable ends, and their moves often come upon calculated projections. The DigiToads launch is certainly something to look forward to shortly.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.