The newest meme coin to dominate the cryptocurrency market is called Tora Inu. Because it has both a visionary whitepaper and a roadmap, industry analysts believe that Tora Inu will soon become the next-generation meme currency regarding its market capitalization and user engagement.
Tora Inu Takes Lessons from Both the Shiba Inu and the Floki Inu’s Mistakes
The Shiba Inu dog breed became one of the most popular cryptocurrencies in 2021. It motivated millions of individuals all around the globe to invest their money in the cryptocurrency that featured a dog. After the tremendous success of Dogecoin, the market was hit with a fresh wave of the meme coin craze, which was fueled by the excitement of the team and the power of the community.
There was a period in time when the token was worth $0.00008845. Then the collision took place. Because it could not survive the protracted crypto winter, the meme currency has already declined 88.58% from its ATH. The cryptocurrency Shiba Inu is a great illustration of why speculation is not a viable business model for a cryptocurrency.
The project’s ambitious goals of creating a metaverse and Shibarium have not been successful in producing real value. The community has experienced a lot of dissatisfaction due to the fact that the usage of SHIB as a currency has progressed so slowly.
Another meme currency that has been unsuccessful in maintaining its value over the long term is the Floki Inu. The community seems to have given up on the token despite the fact that it launched into the market with grander promises, such as creating a movement rather than simply money.
A non-fungible token (NFT) game metaverse known as Valhalla, a non-fungible token (NFT) and retail store known as FlokiPlaces, and an education platform known as Floki Inuversity were the primary promises made by Floki Inu. The community has been put in a precarious position as a result of the precipitous drop in the value of the token, which occurred from its ATH of 98.00%.
Again, Floki Inu is a wonderful illustration that demonstrates both the positive and negative aspects of the meme coin frenzy. Even while the meme currency tag helped get community support for initiatives like Floki Inu and Shiba Inu, the speculation has turned out to be detrimental to the success of such projects. The very volatile chemical that makes up these tokens causes sudden and dramatic price swings to occur overnight.
How can projects make use of the meme coin tag to their advantage without allowing it to bring them down?
It would seem that Tora Inu is correct in her response. The project takes use of some of the most recent developments in the cryptocurrency industry, such as P2E, metaverse, and NFTs, to cultivate a robust community and create value. It differentiates itself from the already crowded meme coin market by placing a strong emphasis on growing the integrations and use cases of the underlying token. The excitement that surrounded the presale of $TORA is a testament to the enormous expansion potential that the project has.
Tora is Positioning Itself to Become the Next Generation of Meme Coins
Tora Inu’s roadmap will be unveiled in the next quarters. This will provide value to the $TORA token. The introduction of a P2E game, an NFT Native Marketplace, Lottery Mini Games, and Mini Games with NFT Integration are some of the important milestones that are yet in the future.
In addition to use cases, the following are the primary pillars upon which Tora Inu is constructed:
Deflationary tokenomics: Deflationary tokenomics assures that the token’s value steadily increases over time by removing a portion of the tokens from circulation after each and every transaction. This eliminates the need for new tokens to be created. It is anticipated that the subsequent reduction in available supply would result in upward momentum for the token. After a user has successfully completed a transaction, the protocol will allocate $TORA incentives to that user. This will further improve tokenomics.
High potential for financial gain: As previously said, Tora Inu will be the site of an active play-to-earn environment. To supplement their revenue from the site, users have access to a diverse selection of minigames from which to pick. In addition to that, it will hold drawings and lotteries, for which people may sign up if they meet the qualifications to do so. In addition to that, it gives users the ability to stake their $TORA tokens in a native platform and receive enticing rewards as they hold on to their coins throughout the HODLing period.
Support from the community: A thriving community is essential to the success of any cryptocurrency initiative. Tora Inu has amassed a significant following on both Twitter and Telegram in a very short period of time. This was accomplished by capitalizing on the meme currency tag to generate interest in the company’s idea. The undertaking has been highlighted in significant crypto publications.
Credibility: It is tough to win over a community when there are so many scam initiatives competing for attention in the market. Regular audits by some of the most reputable blockchain security businesses are carried out on Tora Inu to dispel any and all fears and uncertainties. Coinsniper has also confirmed that the team members are who they say they are. There are also rumblings that prominent CEXs and DEXs have already formed partnerships with Tora Inu in preparation for launching the cryptocurrency.
At this time, Tora Inu is conducting a beta sale of its native token, which can be purchased at a reduced price. Participants in the pre-sale will also be entered into a drawing for a Tora Inu worth $25,000.
