Unexpectedly, a new cryptocurrency has appeared on the digital plateauing and this new creation has garnered attention from both the cryptos and meme-lovers on the net. MrBeast’s Cat SATAN has been one of the fastest-growing tokens by popularity in the crypto industry and the audience on social platforms.
MrBeast, the YouTuber to whom many stunts and acts of generosity can be attributed, has unwittingly connected himself to this odd crypto device. However, it is worthy to mention that MrBeast himself has not embraced this cryptocurrency or created it for that matter, yet the people behind the creation of this cryptocurrency well understood the fact that people across the internet loved MrBeast and cats.
It is called SATAN coin, quite a devilish name it has a circulation of a whopping 6666666666 tokens maximum circulation limit. This principle has gone ahead and increase the initial scarcity of the coin since there are few of them around, thereby making the early bird feel rich. At the time of writing, one coin is valued at $0.00002369, the currency has risen in value by 42.76% in the last 24 hours.
Even though each SATAN token costs $0.016, the project has achieved a 24h trading volume of $775,055 making it #1145 in terms of trading volume. That level of interest can only suggest that this coin might have been targeting a particular group that, indeed, is in the crypto circle possibly because of brand makes it more viral.
However, it lacks some important information on price analysis, and, as a matter of fact, the market capitalization of this coin is currently stated to be $0, so, it’s quite disputable whether it has a real worth at all, or how effective it could be in the future. These anomalies of trading volume and the market capitalization can be attributed to the young age of the coin or the problem of reporting to multiple tracking portals in the world of cryptocurrencies.
In “MrBeast’s Cat SATAN”, there are features such as the word ‘satan’/’saturn,’ ‘cat’ that one imagines to pop up and be clicked on in today’s trends on the web. Firstly, through association with its creator, MrBeast, the show instantly gains recognition and coverage; secondly, incorporating a cat ensures that the Internet with its never-ending demand for cat videos will help the product to become popular. The name “SATAN” brings the controversy and an appealing attribute for those who prefer the distinct and different amid heaps of created cryptos.
In the same way that any new launched cryptocurrency should be approached with caution by potential investors. The use of memes does not generally relate to an application or technology apart from the memetic value of memes. Additionally, there would be no implied permission of MrBeast which results in legal complications or the YouTuber who wanted no connection to the project.
The crypto world has witnessed many coins and tokens come and go depending on internet memes and celebrities affiliations. And while some have remained somewhat popular and have value even today, such as Dogecoin, many of those have been promptly forgotten. Only time will tell if this stunt by MrBeast known as Cat SATAN will be a sustainable project or like many others will be a flip side on the world of crypto.
In case of investing in SATAN, it is very important to do adequate research and know and understand the dangers of investing in speculative currencies. The current trading information of the coin demonstrates steady growth over a short time, but this does not allow predicting its popularity in the near future.
Though the creators of SATAN have really hit the nail on the head as far as popularizing the internet culture, popular personalities and the incorporated interest in cryptocurrencies is concerned. They have ensured people will immediately recognize the existence and starting discussions with their own coin simply by associating it with MrBeast. This feature makes it more closely associated with cats than other digital currencies, such as Dogecoin, and can be shared more often, although it allows for a satanic twist.
As the coin carries on in trading and possibly attracts more attention in the future, it will be useful to take a look at the overall market reaction, and the authorities that regulate it. While shifting focus to the SATAN developers, more questions may arise about the lack of information about the team and SATAN development plan.
Thus, the Cat SATAN of MrBeast is a refection of the Internet culture, cryptocurrencies and viral promotion through social media. This shows that branding and the perfect timing to launch a commodity always play an essential role in the crypto market. However, as with all investments but especially in such a sophisticated and fragile market as the crypto market, potential buyers should approach such offers wisely and invest just the money that they aren’t particularly attached to.
Such coins like SATAN are a good argument that the crypto world is not only still in its development but can also be rather unpredictable at times. Whether this feline-inspired, devilishly named token will be able to climb the crypto rankings or will fade into oblivion only time will show. For now, it remains one of the curiosities of how far the crypto-world can go, taking the boring old meme, squeezing millions of dollars out of it for a brief moment before it gets back to its meme-roots.
