Even when crypto markets are experiencing an up-and-down recovery, one micro-coin is rising quickly on Sunday.
The Elon’s Marvin (CRYPTO: MARVIN) is up by over 4000% and is the highest gainer of cryptocurrency markets in the last 24 hours, as per information provided by CoinMarketCap.
Elon’s Marvin is an extremely new token that is powered with Binance, which is the Binance smart chain as well as Ethereum. It was launched on Oct. 11 and was an inspiration for Elon Musk’s Havanese pet dog Marvin.
The project appears to be seeking to profit from the craze of Musk. It’s likely to rival Floki Inu (CRYPTO FLOKI) that is named after Musk’s pet dog, Floki.
Around 2% of one’s Marvin sale will go into a wallet that will then distribute Marvin reward to holders as well as 4% from each sale will go to the liquidity. This should help to keep the price of the coin relatively high, and will limit the sale of large amounts as the project stated via its site.
There’s a maximum supply of 19,696,657 MARVIN coin and the cryptocurrency reached an record-setting high of $0.65 on November. 1.
As of the time of this writing the value of Elon’s Marin had risen 4,240.85 percent at $0.2256. Since the beginning of trading, the cryptocurrency is up by 240%..
How does Elon describe his Marvin (MARVIN)?
MARVIN is a token that has been designated as BEP-20 that is, in other words, it is based on Binance Smart Chain (BSC). MARVIN declares itself as a memecoin which has been “built to go to the moon.” MARVIN tax the transaction at 2% and then distributes it proportionally to remaining token owners. In addition, MARVIN claims that by using 4% of every transaction to create liquidity, it will lessen the impact of big sales, which helps to ensure that the token is whale-proof. Additionally, a percentage of transactions are devoted to marketing, however, it is capable of burning tokens to preserve its value in the event of a need.
MARVIN was first introduced in the month of October 2021 and has garnered a lot of attention due to the growth of Floki inu (FLOKI) the cryptocurrency that is based on Elon Musk’s other dog. The increase in interest in memecoins that are based on dogs comes after the huge price increases in the case of Dogecoin (DOGE) along with Shiba Inu (SHIB) that have been observed this year.
market performance of Martin
MARVIN has seen its price rocket from a low within a short time after its launch of $0.02 to reaching highs that exceed $0.50. The market capitalization of MARVIN, which is the amount of tokens in circulation multiplied by the cost for a particular token stands at approximately $8 million. In comparison to FLOKI with a market capitalization of more than $2 billion and the potential upside of MARVIN is obvious.