Vita Inu is up sharply right now, up nearly 24% in 24 hours at the time of writing, as VINU found key support and climbed after a strong sell off on Saturday and Sunday.
In fact, the coin has gained more than 170% in the past month, after the project reached some milestones.
What is Vita Inu (VINU) and why is it going up?
Vita Inu is a recently released project that claims to be the fastest, greenest and most efficient meme coin on the market, with the website claiming that 4 million transactions can be completed for each Dogecoin (DOGE) transaction.
It claims that transactions take less than a second - compared to about 5 minutes for DOGE or Shiba Inu (SHIB) - and that transactions involve no fees and use a minimal amount of power.
Unlike DOGE, Vita Inu (VINU) also offers a wide range of utilities and use cases to attract investors to the project. While DOGE was created to be a currency, even though adoption has been extremely limited, VINU's ecosystem has numerous parts.
It's building a VR-compatible metaverse - with community members able to personalize and generate content, like mini-games, within it - and it's building its own dApp that will offer bets and rewards, as well as offer NFTs.
The recent pumping of VINU appears to have occurred after the coin went public on Gate.io and the project also announced its current stake rates - with holders able to get 150% APY for 14 days of locked betting.
A potential downside to the project is that it has a maximum token supply of 1 quadrillion (1.000.000.000.000.000) - with 980 trillion already in circulation - although there are plans in place to burn 100 trillion tokens per month.
Alternative to Vita Inu - Tamadoge (TAMA)
Tamadoge is a project that offers the same growth potential as meme coins, as well as long-term utility and value. The TAMA token is currently in the presale phase and has already raised nearly $ 11,5 million in seed funding, with less than 30% of the presale allocation remaining - and is expected to be sold out before the beginning of October. Find how buy Tamadoge on the official website.
TAMA holders will be able to coin NFT pets at the end of 2022, and pets will form the center of the ecosystem. Modeled on the style of the Tamagotchi, the children's craze of the 90s, pet owners will be able to feed and care for them, buying food and other items in the pet shop and watching them grow into adults.
Pets can then compete against others in a prize game, with prizes up for grabs in a monthly leaderboard. Later in the project, the animals will transform from 3D to augmented reality and owners will be able to take them to the real world to explore them.
Unlike VINU, Tamadoge is characterized by a much more stringent tokenomics, with a maximum offer of only 2 billion and a deflationary mechanism that provides for a 5% reduction in purchases in the pet shop.
