Samoyed Coin was started as a meme coin and now works as the mascot and ambassador of Solana. It helps to bring more attention to the Solana blockchain. It is worth noting that this blockchain brings innovative solutions to the world of cryptocurrencies. The coin is named after the samoyed dog breed of Eastern Europe, and it also bears the name of the CEO of FTX.
A Bit About Samoyed Coin
Samoyed was founded by Solana and uses a dog for its icon. It works as a memecoin and can be purchased on various crypto exchanges. These include Binance, Coinbase, FTX, and Kraken. For swapping, you can use Orca, Raydium, or Jupiter, among other platforms. While the altcoin was started by Solana, it was developed to be community-owned. You can be a part of the community by purchasing the cryptocurrency.
Samoyed Coin is becoming one of Solana eco-systems mascots.CryptoLists.com
Solana was inspired by Dogecoin to create a similar memecoin, and this was Samoyed. The coin is mainly meant to attract the attention of people who would normally be disinterested in crypto. It is worth noting that Solana is a scalable blockchain, and this makes it quite useful in the world of crypto. The currency has become quite big and is traded on many notable crypto exchanges.
Utility of Samoyed Coin?
You can use the cryptocurrency to buy and sell items online, and you can also hold it to speculate on its price. It is worth noting that the Samoyed coins are burned regularly, so you shouldn’t expect the supply to increase drastically. This way, the price of the cryptocurrency will keep going up over time. Various NFTs have been launched under the
Samoyed Coin Price detailsSOL Contract address: 7xKXtg2CW87d97TXJSDpbD5jBkheTqA83TZRuJosgAsU
›› Details & Tokenomics
Advantages of Samoyed Coin+ Samoyed Coin is backed by a major brand.
+ SAMO has historically performed well in the markets.
+ It uses a scalable blockchain, Solana.
+ Transaction speeds are rapid & supply is controlled through burning.
Disadvantages- Like other meme coins, its future is uncertain.
- It is highly volatile and may not suit inexperienced investors.
- Newbies may be vulnerable to security risks with Samoyed.
- The token doesn’t solve any real issues in crypto.
Costs▪ Rated at 10/10
Since Solana and the other blockchains that allow SAMO transfer have very low transfer fees, you can expect that it costs about 0.03 USD to buy a Samoyed Coin. Samoyed has a market capitalization of about 75 million USD in the middle of February, 2022. The cost of transferring a $Samo coin is the same as that of Solana. Once you buy it, you can store it in any SOL compliant wallet.
On the Samoyed website, users are advised to always leave a small amount of the cryptocurrency when swapping as this will be required for the transfer fees.
Reputation and Buzz▪ Reputation rated at 7/10
▪ Buzz rated at 8/10
As noted earlier, this altcoin was created by Solana, which is one of the biggest names in the world of crypto. Because of its association with Solana, the cryptocurrency has been able to gain popularity in such a short period. It is also worth noting that the coin has been discussed in many major events, and this has boosted its appeal. Like Dogecoin, the altcoin uses a dog icon. This design has made it appealing to people who don’t focus much on cryptocurrencies.
What is a memecoin?
A memecoin is a cryptocurrency that is based on an internet meme. Like other memecoins, Samoyed has humorous characteristics, and this is reflected in the available Samoyed NFTs.
Is this altcoin legitimate?
Yes, this is a legitimate cryptocurrency that uses the Solana blockchain. Since it is backed by one of the biggest brands in crypto, you shouldn’t be worried that it will go down. But as always in crypto, you can never be sure so never invest more than you can afford losing. Also, its supply is controlled by burning alt coins, in an attempt to prevents deflation of the currency.
Will the Samoyed price go up?
While quite a few industry experts predict that the price of Samoyed will go up, there are also many that's negative. As a crypto investor, you should preferable focus on long-term price estimate. When the token was launched, it was trading at a price of 0.0191 USD, and it has now gone up to 0.0231 USD. There is always huge risks with volatility for meme coins, so be careful and do your due diligence before investing.