As we come to the end of February, we can look back at the performance of some of the top crypto on the market over the first two months of 2023. It’s already been an exciting year so far after regulation announcements and the collapse of Binance’s native stablecoin and if it continues to play out like this, the Cold Crypto Winter of 2022 will likely become a distant memory. The first and biggest coin, Bitcoin (BTC), has been going through tumultuous changes as it consistently passes as well as falls below $24,000. Meanwhile, the number 2 spot Ethereum (ETH) continues its reputation of stability with whales holding 39% of its supply.
But it’s not only the top 5 cryptos by market cap in an interesting position, there are two other big names and a highly anticipated newcomer all currently making moves that will impact their future greatly.
Big Eyes Debuts Great Reward Opportunity
Big Eyes Coin (BIG) has been making incredibly impressive strides in such little time. Following in the footsteps of Dogecoin (DOGE) and Shiba Inu (SHIB), the project is part of the meme coin niche and isn’t shy about that at all. It has gone all in on its cute and fun image, represented by a cartoon cat instead of the usual dog mascots meme coins often go with. It’s not only focused on this aspect though, there is real utility behind the coin.
Outlined on the whitepaper, the coins’ tokenomics explain that 80% of the overall supply will be released upon launch, with 70% of that being sold to the public with a no buy/sell tax. The remaining 10% will be split between the exchanges and a charity wallet. The philanthropic aspirations of the team behind Big Eyes are more than just admirable as it usually isn’t until a project is firmly established that they make plans like that.
In line with being a meme coin, there are also plans for an NFT collection in the future as well as a sticker release for investors to collect. With the real value of the token and true generosity displayed, it’s no wonder that the project managed to raise over $30 million, becoming the biggest presale the market has seen in recent years. The team has already started showing their generosity time and time again without the coin even being on the market, from a 200% bonus code to a tattoo competition to win up to $1000 worth of $BIG.
Their latest offer is the biggest they’ve done so far with the introduction of loot boxes. Anyone familiar with video games knows what a loot box is, but in case you don’t, they are a fun feature that allows players to earn useful and valuable rewards. In this case, spinning a loot box allows buyers to earn tokens. The Big Eyes loot boxes come in three price tiers: The $100 Cute Box, the $500 Kitty Vault and the $1000 Super Saiyan Box. Each box has bigger rewards than the previous, with the Super Saiyan Box rewards going all the way up to $100,000 worth of $BIG.
But beyond the amount you can win from spins is the fact that no matter what, you can’t lose. Even if you don’t hit the jackpot, you will still at least win a token supply equal to what you spent. If the recognition it’s already receiving and the moves it’s already made is an indicator of anything, it’s that Big Eyes is going to become something big when it launches officially. Early investors are bullish about this, as can be seen by how many of them have taken to Twitter to show off their winnings. There is a limited supply of loot boxes, so now is the best time to buy if you’re interested, before they’re all gone.
Shiba Inu and Solana Face an Uphill Battle
Both of these cryptos had an amazing year in 2021 during the crypto boom and have for the most part managed to hold strong positions in the market regardless of losses they have suffered since then. Shiba Inu especially has had quite the journey, at one point passing its rival Dogecoin in market capitalisation before quickly peaking and spiralling downwards. Despite that, it currently ranks 13 and is still one of the biggest meme coins on the market.
Meanwhile, Solana (SOL) was one of the biggest rivals to Ethereum at the time and was regularly green before a string of controversies that culminated with the FTX fraud incident, which saw its value drop by 40%. Both coins seemed as though they were going to have a strong month as they both experienced price rallies, with Shiba Inu up 40% overall since the end of last year and Solana growing by 21% in this month alone.
It seems as though things won’t be that simple for Shiba Inu though. It ended the week down 7% and it seems as though investors are losing confidence in a comeback as one of the biggest investors starts transferring their Shiba Inu holdings to the exchanges seemingly with the intention of selling. If this happens, Shiba Inu will decline even further than it already is.
Solana on the other hand is building towards a gradual return to form, as it recovers from the losses it suffered over a weekend of crashes. Crashes aren’t uncommon in the history of the protocol so the recovery isn’t surprising, but crashing twice led to transactions being frozen for a long period of time. Solana went up by 4%, a decent recovery in the face of a 14% decline. If this can continue at a nice pace once the developers make a statement explaining what led to the crashes, the 11th-ranked protocol will be able to put the weekend in its past.
For All Things Big Eyes Coin (BIG)
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
