What is catwifhat (CWIF)? Cat Theme Meme Coin on Solana

Bittime - Catwifhat (CWIF) is a meme coin (memecoin) based on the Solana blockchain. Interestingly, this Solana memecoin also applies a burn token concept similar to Shiba Inu.

So, what is catwifhat (CWIF)? How to use these meme coins and how to get them? Check out the complete review in this article, come on!

What is catwifhat (CWIF)?

catwifhat (CWIF) is a cat-themed meme coin based on the Solana blockchain. What makes CWIF special is its unique deflationary properties. In every transaction involving CWIF tokens, 4% of the amount will be “burned” or permanently removed from circulation.

This burning mechanism aims to gradually reduce the total supply of CWIF, increasing its scarcity, and hopefully boosting its value.

Source: catwifhat

CWIF launched with an initial supply of 77.78 trillion tokens. However, thanks to an aggressive deflationary mechanism, in less than five months, the total circulation has been reduced to around 33.91 trillion (as of September 14, 2024). This means that more than half (56.41%) of the initial supply has been “burned”.

Every month, nearly half a trillion CWIF tokens are destroyed. This makes CWIF one of the crypto assets with the most aggressively deflationary characteristics in the industry.

Also read: Get to Know Verasity (VRA): Blockchain Solution for Video, Esports and NFT Monetization

How to Use catwifhat (CWIF)?

Even though it seems like a joke, CWIF has several interesting functions and uses:

1. Deflationary Model: Every CWIF transaction is subject to a 4% fee which is immediately "burned". This mechanism has removed 54% of the total token supply in the first six months of its operation.

2. Marketing and User Acquisition: The CWIF team is actively conducting airdrops to attract new users. One of the largest airdrops on the Solana blockchain involved more than 1.3 million token holders.

3. Listing on the Stock Exchange: CWIF is listed on various crypto exchanges, including Bitmart, Bitrue, and Coinstore. The development team plans to list this token on top exchanges such as Gate.io, HTX, and Bybit.

3. Popularity Among Cat Memes: CWIF has secured its position in the top 10 cat memes by market capitalization.

Balso: Flux Token (FLUX): What It Is, Functions, and Its Important Role in the Web 3.0 Ecosystem

In addition to the main cryptocurrency CWIF, the development team also released the Pixel Catwifhat NFT collection. The collection consists of 1,000 pixelated cat items with 13 different cat hats as the main feature. 

Some of the most valuable items have bid prices of up to $100,000. Currently, Cat #189 is the Pixel Catwifhat NFT with the highest bid price of 1,035 SOL ($150,417) on the popular Solana marketplace, Tensor.

How to Buy catwifhat (CWIF)

Interested in buying this meme coin? How to buy CWIF tokens is quite easy, here are the steps:

1. Select Exchange: Look for a trusted exchange that lists CWIF. You can use CoinScan to compare prices.

2. Create an Account: If you don't already have an account on your preferred exchange, create one. Some exchanges may require KYC verification.

3. Dana Sector: Deposit funds into your account or wallet. Make sure to choose the correct network and token.

4. Buy CWIF: Once funds are available, purchase CWIF tokens.

5. Save Tokens: Decide how to store your CWIF tokens safely. Options include storing on an exchange, using a self-custodial wallet like Metamask or Trustwallet, or a cold storage wallet like Trezor or Ledger.

Don't forget to always do in-depth research about the project, including checking its smart contracts, social media, and liquidity before investing in CWIF.

Conclusion

catwifhat (CWIF) is emerging as an interesting phenomenon in the crypto world, combining the appeal of cat memes with a unique economic mechanism. Despite its attractive potential, catwifhat remains a high-risk investment.

Such is the commentary on what catwifhat (CWIF) is from Bittime. Keep following the articles on Bittime to know the latest meme coins, to the latest market movements!

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