Cryptocurrencies have surpassed expectations in the past decade and have become an increasing part of everyday finance. Furthermore, the diverse crypto applications have witnessed the development of different types of digital assets focused on other sectors.
However, one aspect that has confounded many is the concept of Meme tokens. Meme tokens are cryptocurrencies based on culture, social media memes, jokes rather than particular technical use-cases.
The meme token phenomenon began with Dogecoin – a bitcoin parody created based on the popular Japanese dog meme in 2013. The success of Dogecoin has spun several meme token projects that have enjoyed massive community engagement and price spikes in recent years.
The marketcap for Meme coins is currently over $55 billion, according to data from CoinMarketCao, and growing. Shar Pei is the latest meme coin that intends to take advantage of this trend to provide value to holders.
A truly decentralized Meme coin
Shar Pei is an innovative token based on a Chinese breed of large muscular dogs with distinctive wrinkly skin. It is built on the popular Binance Smart Chain, enabling users to access low transaction fees and fast confirmation times.
Compared to other meme tokens, Shar Pei has taken steps to become a truly decentralized cryptocurrency. For starters, 50% of its total token supply (100,000,000,000) has been locked in a liquidity vault for five years. This is remarkable and shows that the team behind the project are genuinely committed to a long-term approach.
Furthermore, the Shar Pei team did not conduct presale, private, or seed sale events before the token launch. This ensured that everyone was given a fair chance to accumulate Shar Pei tokens during the Public sale on PancakeSwap.
Shar Pei is fully community-based, and there is no percentage of its token supply allocated to its team or dev tokens. All proposals and improvements to the blockchain will be presented to the community for support and funding.
Comparison with other memecoins
Shar Pei was launched on leading Binance Smart Chain DEX PancakeSwap and is listed on crypto aggregator platform CoinMarketCap. At the moment, Shar Pei has a marketcap of $8,000,000 and 5,000 holders.
This compares favourably with other popular meme coins like Safe Moon Inu and Cum Rocket within the first few weeks of launch. Shar Pei has also revealed a roadmap to develop new products within its ecosystem, similarly to Shiba Inu. Some of the products include the release of the Shar Pei charity NFT collection and the development of its Play-to-Earn metaverse.
Shar Pei continues to get traction within the crypto community, and its price has made an upward trend of 20,000% since its launch. You can find more information about Shar Pei on the following links.