By dint of constantly talking about Shiba Inu and Dogecoin, we forget the other token memes. However, there are plenty more popular on the market. Last week, while the SHIB was doing its big rally with a growth of over 300% in one week, it will only take a day for Baby Shiba Inu to grow by 867%. For this trading session, it is Kuma Inu who wins the price of the most performing token meme.
In fact, the price of Kumu Inu is up 57.8% over the past 24 hours. On 7 days, its growth is even more impressive. Kuma Inu shows an increase of 2603% in one week. Newly launched on the market, in June 2021, Kuma is already in the 520th place of the market for a market value of 63.8 million dollars.
Who is this crypto?
Kuma Inu is the token meme of the KumaDex community. Kuma is actually a DEX for futures contracts offering some pretty good leverage for traders. More clearly, the executives explain in the white paper that KumaDex is a:
“Decentralized perpetual contract trading protocol, based on vAMM, for leveraged traders with infinite on-chain liquidity. Unlike traditional vAMMs, users can trade perpetual futures using the Constant Product Market Maker formula with up to 25x leverage. A funding rate mechanism is in place to ensure that the price of the vAMM market asset converges with the price of the underlying asset index. ”
Kuma Inu serves as a governance token conferring a voting right on its Holders on the network. It is also in the farming and volts protocols on KumaDex.
A glance at its performance on the stock market?
Evolution of the price of Kuma Inu (Kuma)
Kuma Inu is launched on the market since June 2021. Crypto should wait until October to make its first breakthrough on the stock market. She took advantage of the good shape of the token memes which are increasingly of interest to investors who want to make a quick buck in the market.
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To be more precise, the bullish movement of Kuma Inu begins more exactly on the day of October 4. Its price drops from $ 0.000000012850 to $ 0.000000019753 on October 5. In one day, Kuma’s capitalization drops from $ 1.5 million to $ 2.185 million.
The crypto will only have waited 7 days to see its market value increase by more than 40 times. Kuma Inu’s market cap rose to $ 63.8 million on the day of October 11. The price has experienced an even more staggering boom effect. On a weekly basis, Kuma records an increase by 2603%.
What future for this token meme?
Kuma’s performance is interesting but nothing says it’s not a crypto project ” pump and dump But the DEX behind the crypto prompts us to ask if the project is not sustainable? KumaDex is one of the few decentralized brokers to offer futures products. The levers of its products can go up to 25x. Which makes his offer quite attractive.
Unlike other token memes, Kuma is not listed on major exchanges. At the moment, it is only available 1Inch Exchange and Uniswap (v3). The lack of popularity is lacking in the project. So, this is why Kuma’s course gains may wipe out very quickly in the days to come.
So you ask yourself who are these investors that he is driving mad?