Simon’s Cat (CAT) is a micro-cap cryptocurrency associated with the Internet cartoon marvel and its market has been showing quite vivid changes. Competition for mobile phones has made most of them sell at relatively low prices and the current price for Nokia 1200 is $0. 00002262, The audience of Simon’s Cat increased for only 1%. 250 percent of increases in value in the last 24 hours. While it is possible to purchase a large number of coins for the single dollar, this type of cryptocurrency attracts both price chasers who love high risk, high reward projects and those that prefer meme coins.
The total assets of Simon’s Cat, thus giving it a market capitalization, is approximately $173. 06 million which would rank at number 230 out of all the available cryptocurrencies. This market cap figures bear a low, or 0, which is about 0% of total market cap for most stocks. Now, even with the 88% increase, it shows that Simon’s Cat is holding its ground in the ever-populated altcoin space. In the case of a memecoin which tends to rely heavily on the passion of its supporters, such slow and steady movement brings forward the notion of consistent though limited demand for the token.
Another big trading vehicle which has experienced a sharp increase in trading activity is Simon’s Cat which has registered a 34. 16% higher as compared to the volume traded in the last 24 hours that is $50. 57 million. It has been observed that this trading activity surges Simon’s Cat trading volume to 80 th position, such trading may be triggered by many reasons such as speculation, short term traders, or event trading by communities. The first and second financial ratios of volume to market capitalization give 29On the basis of these measures, therefore, it has been computed that the volume to market cap ratio is 29. 25% is exotic especially because such a significant part of the coin’s market capitalization is traded daily. Such level of liquidity implies that the trading instrument under consideration is highly speculative, and traders require a large number of these assets to make a single trade since their objective is to profit from short-term fluctuations of the price.
The changes in the circulating supply of Simon’s Cat is at 7. 65, 000,000,000,000 CAT or 85% of the overall CatCoin supply which is a network capacity of 9,000,000,000 CAT. Currently, the overall supply is fixed at 9 trillion CAT meaning that as the demand for this coin increases in circulation there will be scarcity. Market cap is calculate and have value at $203 and this market cap usage if all token of CAT are in circulating supply. 40 million. This metric is used by investors with the intention of assessing the maximum possible value that particular coin can achieve in the prevailing market.
Even though Simon’s Cat is cheap and targets a rather specific audience, it has found its proper place in the list of meme coins. More so, the high trading volume in comparison to the market cap implies that the coin is quite lively and can perhaps attract day trader and anyone interested in short-term speculation. However, similar to other meme coins, Simon’s Cat has no clear vision on how it might deliver value in the long term other than its current and active community.
Upon balance, Simon’s Cat example appears to be an interesting, though highly conjectural idea within the spectrum of cryptocurrencies. The low price and the high relationship between volumes of shares sold and the company’s market capitalization make it a darling for traders seeking to wager high hazards with comparably lofty rewards. Although the market cap and trading activities reveal an expanding interest, would-be investors need to be prudent when investing in Simon’s Cat since it is more of a speculative coin whose valuation is tied to the changing fortunes of the meme coins market.
