A new meme coin, Smurfs coin, sneaks into the crypto market following the recent explosion of PEPE and Floki Inu. According to data, it has a total supply of 404 billion tokens out of which 60 percent has been transferred to a liquidity pool. In this case, the resulting Liquidity Provider (LP) tokens would be locked in a two-year time-lock contract with the remaining 40 percent set to be listed on major crypto exchanges. Based on its deion, the token allows frictionless transfer, buying, and selling with no extra cost involved. Smurfs coin exists as a multi-chain token available on Ethereum (ETH) and Binance Smart Chain (BSC)
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Its tokenomics is also said to provide a well-balanced distribution. For now, investors are advised to only buy Smurfs (ETH) on Uniswap as scammers have reportedly copied them on PancakeSwap. They also caution investors not to buy on CoinMarketCap. It is important to note that CoinMarketCap has two separate coins with similar names – Smurfs Coin ($SMURFS) and SmurfsINU ($SMURF). Mistaking one for the other has resulted in financial losses
To purchase Smurfs coin, users are required to set up a wallet, download it or create their account on the official website. After this, they can purchase ETH, then connect their wallets to Uniswap to finalize the transaction
For now, it has three important stages. Its initial plan is to announce its presence in the crypto market, lock its liquidity then establish trust and stability. In stage two, it would be listed on centralized exchanges, establish strategic partnerships and push its market cap to $100 million. In the third phase, it would introduce a blockchain game, NFTs, and push to reach 100k holders. This would push it beyond the normal meme abilities to a more technical-oriented project
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Smurfs Coin is “Completely Useless”
Its official website has this to say about the token:
Smurfs is a meme coin with no intrinsic value or expectation of financial return. The coin is completely useless and for entertainment purposes only. Smurfs coin has no association with Studio Peyo – The Smurfs.
Recently, the PEPE coin caused a massive wave in the crypto market, surging by 7,000 percent in just 17 days after launch. This caused a renewed interest in meme coins with the overall trading volume hitting $2.6 billion in the first week of May from $408,000 in the week before
Todd Groth, head of index research at CoinDesk Indices said this about the meme eco.
Martin Leinweber, product strategist at MarketVector Indexes is not a fan of meme coins as he believes they are gambling in its purest form. Meme coins entered the mainstream during the 2021’s “Wall Street Bets”. They are largely distinguished from other cryptos like Bitcoin and Ethereum as meme coins are known to have no practical use beyond speculation. Interestingly, Shiba Inu is changing the narratives as it is working on several technological projects to provide real-world use cases
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