Key Takeaways:
- Maneki is a cat meme coin inspired by the mythological Japanese beckoning cat symbolising good luck, success, prosperity, wisdom, and leadership.
- A meme coin in its truest sense, MANEKI has no intrinsic value or utility.
- MANEKI had no presale or tokens reserved for developers, enabling fair market participation from inception; it listed on Crypto.com on 24 April 2024.
- The Maneki community promotes the token through viral marketing tools, including animation, webcomics, and an ambassador programme.
What Is MANEKI?
MANEKI, a cat meme coin on the Solana blockchain, draws inspiration from the maneki-neko, or mythological Japanese beckoning cat that represents a legendary leader with great wisdom who can bring fortune to everyone.
The MANEKI token launched on 24 April 2024, and is marketed as a symbol of good luck, success, prosperity, wisdom, and leadership, like its namesake. The Maneki project aims to expand into a multimedia franchise, including an anime series for international distribution, merchandise, webcomics, and a digital platform to help blockchain projects secure funding.
However, the token currently lacks utility beyond holding and trading.
How Does Maneki Work and Why Is MANEKI Popular?
Maneki is part of the Solana ecosystem; the Solana blockchain supports various functions, including decentralised finance (DeFi), gaming, and non-fungible tokens (NFTs). While MANEKI could theoretically support these functions, its anonymous developers haven’t issued a white paper or roadmap outlining plans to do so.
Meme coins like MANEKI have no intrinsic value and depend on community engagement for support. The Maneki project has leaned into this with an aggressive viral marketing campaign to support its token. For instance, the announcement that MANEKI would be available on tier-1 platforms like Crypto.com was accompanied by a short animated clip that received positive feedback from the community.
Similarly, the official Maneki X account posts webcomics introducing Western audiences to the maneki-neko legend. The Maneki project proactively looks for celebrity ambassadors, as well, including Ultimate Fighting Championship (UFC) competitor Paulo Costa.
MANEKI reached its all-time high (ATH) of $0.0276 on 26 April 2024, just two days after launch. Whale activity was the primary driver of the price increase, with seven accounts collectively purchasing 3.99 billion MANEKI, while other factors may have also contributed to the price increase, including increased visibility on well-known platforms like Crypto.com and influencer buzz on social media.
MANEKI’s value has declined in recent months, but is still worth $0.005076 (at time of writing), giving the token a market cap of approximately US$62.3 million.
The Tokenomics of MANEKI
Maneki’s official site claims a total supply of 8,888,888,888 tokens. When it launched, the project distributed 10% through an airdrop, while the remaining 90% resides in a liquidity pool. The developers did not conduct a token presale and burned their LP tokens, allowing for immediate fair market participation for everyone.
Typically, project developers can claim any tokens they placed in the LP back at a later date. Maneki’s developers assured the community of shared interest by destroying the tokens they would need to claim them back. Thus, everyone participates on a level playing field.
What Will Happen to the Price of MANEKI in 2024?
Crypto traders might be attracted to Maneki’s aggressive marketing and proven community appeal, which give the token the potential for price upside. Macroeconomic factors and significant market events, such as the recent Bitcoin halving and crypto exchange-traded funds (ETFs) approvals, can also increase demand.
However, crypto traders should always remember that cryptocurrency is a volatile asset, and meme coins can be even more so. MANEKI is a relatively new token, hasn’t identified its development team, lacks a formal white paper, and offers no intrinsic value. Its worth depends wholly on the project team’s ability to keep enthusiasts engaged, and can make substantial gains as well as losses. Traders should never put more money into a virtual asset than they can afford to lose.
How to Buy MANEKI on Crypto.com
The Crypto.com App enables easy purchase of meme coins like MANEKI, established cryptocurrencies like Bitcoin and Ethereum, and over 250 altcoins. Users can choose from more than 20 fiat currencies to fund their purchases and even exchange one token for another.
To get started, download the free Crypto.com App from either the Google Play Store or Apple App Store. The App guides users through a simple sign-up process and funding their account. For instant funds, use a debit/credit card or Apple Pay. For those who prefer to use a bank account, allow 1–3 business days for the funds to be added.
Users can start buying MANEKI and other cryptocurrencies as soon as their funds clear.
Conclusion
MANEKI is the epitome of a meme coin. It offers no utility, white paper, or identifiable development team, but it fosters significant community engagement through its marketing and connection to Japanese folklore. The Maneki project has proven its commitment to the coin through its tokenomics, and big merchandising plans are in place for the future. MANEKI is also available on trustworthy platforms like Crypto.com, providing visibility other meme coins may lack.
Meme coins are prone to wild price swings in either direction, and traders should consider their trading strategy and goals before purchasing one. MANEKI offers the potential for considerable price upside, but the downside risk is also substantial.
Due Diligence and Do Your Own Research
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