The price of a meme coin saw an increase of more than 2000% today: Shiba Toby. Some cryptocurrencies have seen significant price gains despite the crypto market being flat this week. Meme coin projects continue to dominate the markets, with many seeing double- or even triple-digit percentage gains.
What is Shiba Toby (SHBT) as a meme coin project?
Launched in January 2022, Shiba Toby is a Shiba Inu themed meme coin built on top of BSC. It looks like it will be the next major decentralized meme project at BSC, whose strength is transparency. Shiba Toby is a reflection token that rewards 5% for every sale transaction. A hyper-deflationary token with automatic redistribution of rewards. Shiba Toby also has the meatverse game available for users to check out right now. Some plans for Shiba Toby games include PVP and PVE battles, Breeding NFTs and much more. Also, Shiba Toby will release an NFT collection. Looking at the chart on CoinMarketCap, Shiba Toby took more than a month before seeing significant price spikes. The cryptocurrency is listed on PancakeSwap. At the time of writing, SHBT has a market cap of $299k and a 24-hour trading volume of $148k. In the last 24 hours, a large number of purchase volumes have taken the token to new heights.
Looking at the distribution of owners, the top owner is PinkSale Liquidity Lock with over 30% supply followed by the distributor with 15.3% of the supply. This holder distribution is relatively healthy. The dealer only holds 15% of the supply, which is reasonable. If the dev team continues to develop the Shiba Toby and NFT collections are released, SHBT can easily grow. Investing in meme coins is always risky. And it is highly recommended that each investor do their own research.