It is extremely complex to predict the near-to-medium term price trajectory of the cryptoverse. Though Bitcoin has been adopted by another country, Central African Republic, BTC price continues to remain under pressure. As of writing, it was trading at below US$35,000, losing almost half its value since last November.
In contrast to BTC decline, CoinMarketCap price data suggested a surge in the value of some relatively less popular tokens like SafeFloki (SFK). These assets usually have a very low market cap and trading volume. Following the popularity of meme token Shiba Inu, many tokens with similar names have come up.
One of these is Mononoke Inu. Let’s know more.
What is Mononoke Inu crypto?
Claiming to be an “anime-inspired” crypto, Mononoke Inu focuses on decentralized finance (DeFi). In its whitepaper, the project appears to be leaning more toward gaming and non-fungible tokens (NFTs). Blockchain games like Gala Games and Axie Infinity command a high market cap in the cryptoverse.
Mononoke Inu seems to be riding the wave with its 2D game with play-to-earn (P2E) features. It is said that characters and equipment within the game would come in the form of NFTs. As of now, this limited information alone is available in the whitepaper. A few reports suggest that the first gaming venture of the project was recently released in its Alpha version.
Saitoki Inu, which is a different token, is also said to have links with Mononoke Inu’s ecosystem.
Mononoke Inu token
The native token is titled Mononoke-Inu. Though the name suggests it can be a meme token like Shiba Inu, the exact utility has yet to be ascertained. BKEX and Uniswap are said to have listed the token for trading.
Mononoke Inu token price
As of writing, Mononoke Inu token traded at nearly US$0.000000000006. CoinMarketCap data did not include the token’s market cap, and its 24-hour trading volume was nearly US$400,000.
Shiba Inu (SHIB) featured in the top 15 cryptoassets at the time of writing. Mononoke Inu was not even in the top 1,000 assets. The price has also remained subdued since late-January 2022.
Data provided by CoinMarketCap.com
Also read: 3 reasons why cryptos could be crashing
Mononoke Inu crypto is a new asset with focus on blockchain gaming. The utility of the token has yet to be established. Recently, it claimed to have partnered with another gaming crypto, Saitoki Inu. Unlike famous meme tokens like Shiba Inu and Dogecoin, Mononoke Inu is neither a large cap asset nor its trading volume is high. Though less popular tokens like SafeFloki have recently gained even when BTC and SHIB are down, trading in such tokens can be even more prone to risks.
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