As the planetary world goes in a more advanced level of technicalities especially in the financial aspects, there is a new addition to the list of cryptocurrencies. Cheems is represented in the stock market as CHEEMS and has recently gained the attention of many users due to its recent activity and the position of the altcoin in the market.
From its current price of $0.061192, Cheems has seen trading volume increase by 15.62% in the last 24 hours an indication of traders and investors’ rising interest in the coin. This upward trend has placed Cheems at $26.2 million in its market capitalization making it rank #2761 among the world’s cryptos.
Out of all the changes that Cheems has experienced in the recent past, the altcoin has boosted its 24-hour trading volume to $3.06 million; a major achievement. This number is even higher than the previous day by 38.20% which shows an increased amount of trade and volume for the token. These volumes have placed Cheems among the top 500 most actively traded stocks in its early existence in the crypto industry.
According to the analysts, the volume-to-market cap ratio stage, which reflects the level of buyers’ interest and asset liquidity, has risen by 11.67% in the last day. From such an analysis, it can be deduced that Cheems is in a phase where it has more transactions than it should for its size, meaning that many traders may be showing interest, and participating in the market.
Cheems claims that it has more than 219.78 trillion circulating CHEEMS in circulation, the total supply, and the maximum supply also. This element shows an impressive correspondence between circulating supply, total supply, and maximum supply, which may to be viewed as the token issue’s clear and logical structure. The market capitalization when the total token supply is considered is $26,248,070 – very close to the current rate.
Cheems, therefore, follows the tradition of other meme coins based on the famous Shiba Inu internet meme, just like Dogecoin. However, there is a major difference in the native blockchain that Cheems uses by location with Solana, a high-speed and low-cost crypto trading platform. This could be particularly efficient when compared to some of its meme coin counterparts of blockchain charting solutions.
To realize its vision, the Cheems project has set out the following roadmap that entails development of new features around its token: Cheems Gods NFTs, CheemsCard Game, and CheemsDao. These plans indicate an attitude to move to the next level and develop working models of how the token could be used within games, non-fungible assets, and DAOs.
Some of the major objectives of the Cheems platform mostly revolve around enabling interconnectivity of global communities, shopping, and gaming on the Solana ecosystem. It was also likely to gain a diversified group of users and make the token’s environment active.
Cheems token supply is 7trillion tokens but 4.2trillion is burned for balance in the circulating supply. These burning mechanisms such as moving tokens to a wallet with no private key helps to take out tokens from the circulation more permanently. They are often applied to may possibly raise scarcity or value over time and thus the kind of deflationary measures.
In addition, this project has distributed 20% of the sale supply to the airdrop to early birds, and the remaining 60% of the total supply has been burned to improve the decentralization of this project. These tokenomic decisions represent a plan designed to incentivize people who staked their claims early on as well as bring about a less concentrated distribution of tokens.
Like every other token investment out there especially in the meme coin niche, potential investors should approach Cheems with a pinch of salt and perform their due diligence. Meme coins as a class are unpredictable and often associated with high risks and reward ratios, and Cheems, if promising a similar formulation, comes with similar equations just as it does with potential for high returns.
Summing up, Cheems is an interesting phenomenon in the context of the cryptocurrency world having combined meme pop culture, blockchain and ambitious plans for the creation of an ecosystem. That is why its latest results and the rising turnover indicate a gradually expanding interest of the market in it, but like any other digital currency, its future success depends on many factors, including but not limited to the activity of the community, the development of technologies, and the general market situation.
In the course of continuing growth of this sector, Cheems will have to overcome its future obstacles and define the further steps that will allow it to stay stable and become a key figure in the crypto sector.
