Wakanda Inu ($WKD) launches as the world’s first African meme token built on a mission for charity works. Similar to other meme cryptocurrencies such as Dogecoin and Shiba Inu, the utility token aspires for mass adoption in the highly popular decentralized finance (DeFi) industry.
With
its first token sale on November 6, 2021, Wakanda Inu is the newest player in
the massively competitive cryptocurrency market. Its creators, who describe it
as a “charity-oriented meme token that is entirely for social good across the
globe”, attempt to establish it as a mainstream asset with real-world utility,
especially for global nonprofits.
Still, financial analysts
speculate on the viability of the newly launched token. While it has gained
decent trade-in decentralized exchange, Pancakeswap, and 11 other marketplaces
across Africa and Asia, cryptocurrency investors may be hesitant to mine for
the meme token due to its inherent parodical nature. One of the prominent
African exchange Sabii of Amber JC Lou Integrated Limited will be listing WKD
soon as confirmed by their representative.
Cryptocurrencies, including the
world’s leading token, Bitcoin, began as a new way of community trading. Operating
on blockchain technology, cryptocurrencies were meant to give power back to the
layperson. This was because of its decentralized structure that allowed for
complete transparency in every single transaction.
Because tokens were mined and
traded with no single regulatory board, users were assured of a significantly
reduced risk of fraud. Developers of other tokens began to emerge, including
parody meme tokens that featured popular internet avatars such as the Doge or
The Black Panther and his country of Wakanda.
Nevertheless, Wakanda Inu has
found solid backing among high-risk investors. When it launched, it generated a
diluted market capitalization of more than $300 million, with 80,000 $WKD
holders in just one week and growing rapidly.
The creators of the new token
believe that its initial success is not a one-off event and expect it to
improve in market viability in the next few months, especially as the token has
adopted a 4% smart contract that supports various charities.
According to its white paper,
$WKD began as a community meme project that represents the daily struggles and
aspirations of every human being. By embodying the spirit of community, or in
this case, Wakanda, the token desires to bring together people of different backgrounds
under a single, unified flag.
Disclaimer: The information provided on this
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or any other sort of advice and it should not be treated as such. This content
is the opinion of a third party and this site does not recommend that any
specific cryptocurrency should be bought, sold, or held, or that any crypto
investment should be made. The Crypto market is a high risk, with high-risk and unproven
projects. Readers should do their own research and consult a professional
financial advisor before making any investment decisions.
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