YooShi is a coin based on the Binance Smart Chain. The overall circulation supply of this crypto will be exponentially reduced because of the burning mechanism. Additionally, its liquidity is permitted to increase quickly thanks to the integration of the burning mechanism, novel Auto-Liquidity function, and NFT. The fact that YooShi employs a large-scale decentralization that is uncommon for other tokens is one of its most significant advantages.
A multifaceted Defi platform, the YooShi ecosystem is controlled by its own native decentralized meme coin, called YOOSHI. YooShi is designing a metaverse with integrated play-to-earn features so that users may have fun and make money at the same time.
The platform can be characterized into 3 parts as YooShi Gamepad, YooShi Labs, and P2E guild alliance. For actioning NFTs, the platform provides a specialized NFT marketplace. YooShi offers its consumers Defi options, such as an auto farming system that distributes 4% of all platform transaction fees to its token holders as compensation. Additionally, YooShi NFT holders may use their NFTs for yield farming using an NFT yield farming system.
Factors that helped YooShi to reach such popularity
As with any other meme coin, the quantity for this one is also high, the maximum supply is 1 Quadrillion and the market cap is $41,155,946 (₹3,289,472,585) Because of the easy availability, people are more comfortable buying it. At the price of 1 Bitcoin or Ethereum, you can buy millions of YooShi coins.
Because of the high quantity, the prices are low, at the moment the current price of YooShi is $0.0000001101 (₹0.000008799).
People interested in entertaining things
Because of how intriguing the idea is to them, more people are interested in it and purchase it. Things that gain attention online and on social media soon catch on with the general public and become trends.
Backup from powerful people
Every time Elon promotes or talks about meme currencies, notably DOGE, the price rises, and all of the meme coins gain in popularity. Elon is a big supporter of meme coins in general.
What can risk the growth of YooShi?
Meme coins are quite popular with people, and new ones are always being made, changing the trends. Therefore, with the arrival of new cryptocurrencies, this might eventually be forgotten. The price of this meme coin might drop temporarily, but it won't just disappear in one day.
Easy availability leads to limited growth
As a good supply is available there's so it is easy for anybody to use or buy. Demand controls the price, if the demand is high the price will be high as well, and many people aren’t investing in it because of that limited chance of growth.
How can you buy YooShi on Suncrypto in India?
There are several methods to purchase it. You can mine it on your own or use it to pay for goods and services. A reputable and legalized exchange like Suncrypto is the fastest and safest way to get it.
The steps mentioned below should be followed in order to purchase it on the Suncrypto Exchange: -
- Download the Suncrypto application from the Play Store or the App Store.
- To finish the KYC process, enter all the required information.
- To buy cryptocurrencies on the platform, credit your Suncrypto account with money.
- To find the YooShi meme coin, use the search option.
- Click "buy" after selecting the quantity.
- And you've finished the purchasing process.
It is a good investment to start with at low pricing because it is a well-known cryptocurrency with a solid reputation. Despite how simple the investment is, one should do their own research before spending money.
For more news and details on cryptocurrencies, go to Suncrypto Academy.
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].