The Impact of Burn Mechanisms on the Success of Meme Coins

[iamcryptic]

A few weeks ago, $MOTHER, a memecoin spearheaded by Iggy Azalea, created a stir on Solana by dominating trading volumes and delivering impressive returns on investment. Recently, I noticed on Dexcreener that another meme coin, DADDY, is making similar strides.

What caught my eye with DADDY is its burn mechanism, which has already burned 40% of the supply, valued at over $140 million. The team behind it is very active and has secured listings on platforms like Bitget, boosting the token's visibility. In my opinion, with the current buzz around DADDY, strong community backing, and the burn mechanism, we could see some exciting developments and figures in the near future. What are your thoughts?

[XTRAVAGANZA]

 

You hit the nail on the head with the burn mechanism. Deflationary tactics can be a major factor in a token's long-term value. Good call on DADDY, and props to Bitget for spotting its potential early with a listing.

I'm curious to see how the DADDY community evolves. I believe strong community support can drive a project forward.

[iamcryptic]

On 20/06/2024 at 18:17, XTRAVAGANZA said:

 

You hit the nail on the head with the burn mechanism. Deflationary tactics can be a major factor in a token's long-term value. Good call on DADDY, and props to Bitget for spotting its potential early with a listing.

I'm curious to see how the DADDY community evolves. I believe strong community support can drive a project forward.

Let's see. The market general market is in a downtrend though.. but some memes are not so bad. Been accumulating BOBO, APECOIN, BOMB after sighting them on Bitget memezone. Let's see how his unfolds.