Get to continue our series on Meme coin monday and luckily with this video on a little bit more of a positive note compared to last time talking about the squid games token rug pool. I don’t know how long we’ll keep this video series on talking about Meme corn Monday. I thought it was funny. I think it’s a good conversation starter if you’re bored at the kitchen table or kitchen table you’re bored at the dinner table at night and you just say to your parents a weird coin. They’re gonna say what the heck are you talking about.
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Samoyedcoin: basic information and blockchain
You want a conversation starter just say Samoyed. So, that is going to be the topic of this video, we’re going to be talking about Samoyed coin. A lot of this has kind of snowballed to talk about this project specifically simply because the salon is blowing up as a crypto project. Samoyed coin is the first quote-unquote doge and or meme coin on Solana’s blockchain. So, it really provides itself a great foundation with all the hype that we’re seeing with meme coins with it increasing all-time highs for bitcoin. It could be a fantastic opportunity but that being said, realize meme coins have much stronger opportunities for rock pools, so any money you put into any of these just might as well. Go ahead and say you lose it all and then just hope for the best. That’s kind of at least how I approach it. For me, I’m not a fan of investing in Memes, but that is neither here nor there.
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While millionaires are being made left and right with the Shiba Inu token. There is one question that everyone is trying to solve and define the answer to. And that simply is what is the next Shiba Inu. What is the next Doge? What is going to be the next project?
That’s going to make me a crypto millionaire. Now there are many projects that have attempted to say. This is going to make you the next crypto millionaire you see on youtube videos. All the time this is the next thousand X coins. This is gonna make you invest a hundred dollars. You can become a millionaire and oftentimes when you look in retrospect a lot of those Meme coins simply just fade out and there’s other reasons that typically involve that. But, it’s the ones that have a lot more source to them that often make the cut in today’s video. We’re going to be talking about a specific coin that has a little bit more umph to it and a lot more backing comparatively speaking to other coins, maybe such as Santa, maybe that one next week.
But, some weird coin is Solana’s cutest ambassador, in case, you didn’t know. You wanted to know that you want to be in the know of who is Solana’s cutest ambassador. It’s none other than Samoyed coin. It is the premier community token and symbol of the Solana ecosystem join us. Let us be your guide in the crypto world now. The only reason we’re really talking about a Meme Doge coin is because well all of the popularity that Shiba Inu has received in fact an eight thousand dollar bet on Shiba a new coin allowed a warehouse manager in england to turn into over a million dollar profit. So, you’re seeing people putting their life savings up as a gamble for the next millionaire making opportunity. I’m not here obviously all the videos that we do are for entertainment purposes only none of it should ever be taken as investment advice. But, everyone’s always on the lookout like what’s going to be the next big thing. This got involved very early and well quite frankly has made his millions now. If you look at the overall price action in Shiba Inu. You can see that this Meme token has become more valuable than almost thousands of other projects out there and at one point cracked the top 10 cryptos in the world. You can see currently it’s a little bit off its highs. But, the token currently has a market cap of just under 30 billion with a b dollars now what’s interesting and why we’re talking about some weird coin is quite. Frankly, it’s been gaining a lot of media attraction. If you look at google trends, you can see that it’s currently on a breakout interest over the past two weeks. You can see literally no interest, no research or no search for this token and all of a sudden mid-October.
Samoyedcoin on Solana: is it good?
It literally breaks out it’s insane when you’re looking at the overall amount of people talking about this one of the reasons being. Solana as a blockchain has simply exploded and in fact Solana is one of the fastest growing cryptos as far as blockchains in the world so when you’re seeing all this attention on Solana. Well, people are simply looking at what other Meme Doge are available on other block chains here. We are with some wet coins now. Some wood coin is Solana’s first Doge Meme coin aiming to be community owned and fun inspired by dogecoin sam bankman freed the ceo of ahmadiyya research and ftx. I don’t know how to pronounce his name. The co-founder of Solana hints at the choice of the dog breed Samoyed bringing these two giants together. We’re really going to go into all of this here. But, as you can see Samoyed coin has broken out already going from six tenths of a cent or as low as you know two tenths of a cent to the likes of well 16-17 cents one point was above 20 cents. But, really hasn’t been able to break out of that resistance right around here.
We’re not really gonna look into the technical side of things. But, it is a token that still has a quite small market cap, you’re looking at still under half a billion dollars which necessarily isn’t small, but comparative to a lot of your other meme coins. They still would provide it with a lot of upside now with Solana being one of the fastest or technically the fastest growing cryptocurrency in the global crypto market. This draws even more attention on the projects that are built on solana, specifically that of some white coin and everyone is on the lookout for a doge like crypto or Shiba and you like crypto on other blockchains because if this specific blockchain is blowing up. A lot of that attention is now going to that mean coin. If enough tension is gone to that beam coin then well maybe you have enough retail investors getting involved now a lot of this also started blowing up as Beheza did a video that’s garnered nearly 360 000 views talking about becoming a Shiba a new millionaire, but what’s interesting is primarily within this video. I’m not going to play it due to copyright reasons, but what’s interesting is that within this video.
Capitalization of Samoyedcoin
He particularly for about half the video itself talks about a friend of his who made over a million dollars off. I think it was a thirty thousand, maybe it was a sixty thousand dollar bet on Samoyed coin and now has over one point three million dollars at least within this video posted about a week ago talking about how this particular friend became a millionaire off of his bet on some white coin. Now one of the interesting things that his friend says within this video is that he was on the lookout for other Meme coins on other blockchains outside of aetherium. That’s how he came across some white coin and that’s how he made that money off his bet. But, what’s interesting is that if you look at the Samoyed coin. It’s not listed on many major exchanges. Now you can see that Shiba inu is available on coinbase so imagine that type of popularity with a massive exchange such as coinbase being able to list something such as someone coin and with the growing popularity of Solana.
It’s not all too far of a reach now, if we circle back to talking about some white coin and the coin itself. Obviously, every meme coin is gonna have to really try to create value because inherently they don’t have value. So, they try to kind of formulate that value through burning token mechanisms and other things that can really cause the price perceived to go up because they don’t have a lot of utility value that is typically for most projects. I get involved in they simply have that value because they provide a service or utility but when a coin has to create value when it’s superficial it can be a little bit more difficult to reason about an investment. Now when you look at the max supply sitting over for 14 billion worth of samo tokens the burn is at 2.1 64 to be burned over the next three events. So, they’re quite uh let’s just say vigilant at burning these tokens. You see the circulating 2.89 billion 14.4 was distributed via free airdrop and then excuse me 5.6 released gradually 10 for marketing and growth which they have quite frankly been doing a lot of and 3.9 for the core team now what’s interesting is you can see here this was back in April of 2021. These are the two things that I find quite interesting that really could provide a lot of potential upside to this project and realize this when we’re talking about Meme coins.
Samoyed potential: can it reach 1$?
We’re really just focusing on providing coverage on them. It’s really not looking. Let’s get involved in this project that has so much potential etc. It’s really just providing coverage and laughing in the end as is this really possible. We talked about squid game tokens. 12 million dollars lost with the rug pool, so realize everything in this should be taken with a heavy grain of salt. But, what’s interesting is these two items within their roadmap so they have a 54 percent burn plan of the max supply initiated to celebrate the start of Solana summer because this happened July of 2021. 500 million tokens are burnt on a random day every month which is interesting.
So, that means over the next courses of the following months 500 million tokens get burnt every month on a random day which is interesting and then with all the NFT craze that primarily gained Solana a lot of its popularity well samo is dipping his toes into the nft craze itself. You can see here that Samoyedl NFT with a bad back buyback and burn mechanism in collaboration with Solana art continues our mission to become community driven coin to bring fund and awareness to Solana ecosystem. But, with the popularity of nfts and the buyback and burn mechanism could really cause some scarcity for the Samoyed coin that’s really the last interesting thing surrounding the project specifically outside of well. It is the first Meme dogecoin or meme doge like coin on the Solana blockchain.
This article is a transcription of a video made by Tactical Investing
Original video: https://youtu.be/8py2et-58Lc