Numogram, a meme token on the Solana blockchain, has made its way to the limelight as the prices surge. Invading the cryptocurrency market under the symbol GNON, Numogram appears as #2721 in the world for the increasing recognition of traders and investors.
Currently the token floats at $0.09972 and this is a 37.40% increase in the last one day period. This has filled Numogram’s market capitalization to $102.25 million, which is an indication of a growing investor reception to the project.
It appears that the volume of trade with Numogram tokens has been quite impressive and stands at $73.55 million within the last one day period. This very high volume to market cap ratio of 71.87 % shows that there is a lot of liquidity in the token and it has good traffic, which is always considered to be a bullish signal for a short term price action.
The allocation of the token is demonstrated in tokenomics, where the total token supply is 1,000,000,000 GNON, and all of this is reported in circulation. The aspects of token distribution mentioned here can be attractive to investors who want to understand how a project’s compensation scheme will work when owning tokens. The fully diluted market cap (FDMC) amounts to $99,720,000, which is almost equal to the current value, so the market is taking into consideration the total amount of tokens that may be issued in the future.
Like in many meme tokens, the recent sharp rise of Numogram’s price stimulated discussions about its sustainability and further coin development. Some investors are attracted to the high and spectacular yields, but others are still tam while referring to the instability of meme-based tokens.
The former makes for good reading against the backdrop of the meme token space, which has taken root on several blockchains. The Solana ecosystem, which has boasted of faster and cheaper ABC transactions, has turned into a favorable ground for such projects.
However, as it is with a majority of meme coins today, despite the current encouragement, future investors are urged to tread carefully when investing on Numogram or any similar meme token. Cryptocurrencies are characterized by high volatility and thus, the pioneering projects that may skyrocket in a few months can nosedive in the same period.
While the world is watching how Numogram affects the crypto world, people will also be interested in the project’s further development and its relevance besides being a meme token for now. Only in the following weeks will Nemogram be able to find its niche in the constantly evolving world of digital assets.
