KISHU Inu is another meme coin with a dog motif that is getting a lot of attention from people. It has gained rapid growth since its launch on 17 April 2021. It was developed by some unknown developers and is built on the Ethereum Blockchain. KISHU includes non-fungible tokens (NFTs), and a DEX called Kishu Swap, the unique feature is that there are participation prizes for frequent users. Within a month of its launch, it had more than 100,000 users and a market worth $2 billion, demonstrating its rising popularity. The goal of SHIBA Inu is to introduce common cryptocurrency ideas to the public.
The novelty of Kishu Inu is that it distributes 2% of each transaction to token holders via their own decentralized wallets. For instance, 20,000 KISHU tokens will be issued to the wallets of token holders if someone sends 1,000,000 KISHU.
Although there is a 2 percent transaction charge, you are actually receiving benefits for possessing KISHU tokens. Other crypto tokens operate in a similar manner; the only distinction is the percentage that is deducted from each transaction.
Factors that helped KISHU Inu to receive such popularity
As with any other meme coin, the quantity for this one is also high, the maximum supply of Kishu Inu is 100 Quadrillion and the market cap of KISHU is $47,044,575 (₹3,749,747,055). Because of the easy availability, people are more comfortable buying it.
The price of any cryptocurrency depends on the demand and as the quantity of KISHU is quite high so the demand is always fulfilled so the price is low because of that. According to the coinmarketcap, the current price of the KISHU is $0.0000000004843 ( ₹0.00000003875)
People interested in entertaining things
People are more interested in it and buy it because the concept is highly interesting to them. Things that become popular online and on social media quickly become a trend that people follow.
Backup from powerful people like Elon Musk
Elon is highly in favor of the meme coins, especially of DOGE, so every time he markets or talks about the meme coins the price increases, and the popularity of all the meme coins increases.
What can risk the growth of KISHU Inu?
Meme coins are extremely well-liked by people, and new coins are always getting created leading to changes in trends. KISHU may therefore eventually be forgotten with the introduction of other cryptocurrencies. This meme coin won’t just vanish at random one day, although prices might fall for a while.
Easy availability leads to limited growth
Since there is a large supply and it is simple for anybody to use or purchase, there is no need for demand, but the price of cryptocurrency is heavily influenced by demand. The restricted growth of KISHU is due to the prices not rising significantly if the demand is easily met.
How can you buy KISHU INU on Suncrypto in India?
You may buy KISHU in a number of ways. It can be mined just by you, or you can accept it as payment for goods and services. The easiest and safest way to obtain it is through a trusted exchange like Suncrypto.
To purchase KISHU on the Suncrypto Exchange, follow these instructions: –
- Install the Suncrypto app from the App Store or Play Store.
- Fill out the necessary details to complete the KYC process.
- Deposit money into your Suncrypto account to purchase cryptocurrencies on the platform.
- Use the search feature to look up the KISHU Inu meme coin.
- Choose the quantity, then click “buy.”
- And you have completed the buying process.
Since KISHU Inu is a well-known cryptocurrency with a strong reputation, it is a suitable investment to start with at low prices. Despite the ease of the investment, a person should conduct their own research before making a purchase.
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you to please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].