It has been over two months since top altcoin, Ripple (XRP) claimed the position of the third largest cryptocurrency by market capital, next only to Bitcoin and Ethereum. Interestingly, XRP coin’s dominance has grown ever since, thanks to its exceptional price performance and growing network activities over the past few months.
However, Ripple isn’t the only crypto project with a unique performance or narrative. Another highly talked-about project that has garnered enormous support in the crypto market is ChowWow ($CHOW). Based on the Solana chain, ChowWow ultimately functions as a multipurpose meme coin with play-to-earn and stake-to-earn compatibility.
ChowWow Teases Market Dominance With P2E and S2E Integration
The ChowWow (CHOW) project draws its meme coin narrative from the famous Chow Chow dog breed. Notably, the meme coin embraces Chow Chow’s distinct and unique features which include its majestic, beautiful, loyal, strong, low maintenance, independent, and extreme intelligence. The ChowWow ecosystem embodies these traits as it strives to stand the test of time.
Beyond the cultural heritage, the ChowWow project is also designed to offer real-world use cases. Among other things, the ChowWow ecosystem integrates both play-to-earn and stake-to-earn features, thereby providing lucrative opportunities for users. For instance, the ChowWow gaming kingdom features various gameplay through which participants can earn valuable items including the CHOW token and other collectibles.
Similarly, users can also explore the staking features that allow them to earn passively, up to 15% APY depending on network participation and duration of staking. Meanwhile, the native $CHOW token powers the entire operation from on-chain transactions to governance, liquidity, and reward distribution. Currently priced at $0.008 in the initial presale phase, the CHOW coin is deemed to be the next 100X memecoin.
Ripple Price Action Exhibits Potential Bullish Reversal
The increasing network activities on Ripple (XRP) contributed significantly to its current position as the third largest cryptocurrency by market capital. However, despite being in the spotlight for over two months and counting, the native XRP coin wasn’t left out of the recent market correction.
In the past week alone, XRP price has declined by more than 20%, falling from a weekly entry price above $3 to trade somewhere around $2.46 currently. While the recent price retracement is a reflection of the broader market trend, it has also cast a shadow of doubt on Ripple coin’s market dominance.
Regardless, the XRP price chart suggests a strong recovery pattern, particularly after the top altcoin swiftly surged from a weekly low of around 1.76 following a brief liquidity sweep. Also, Ripple coin’s technical analysis, including 100 and 200 day SMAs and EMAs signals a bullish trajectory, further suggesting that the current retracement is only a minor setback.
Can ChowWow Hit the $1 Price Mark in Record Time Compared to Ripple Coin?
Although Ripple coin is a well-established top altcoin, ChowWow may stand a better chance of hitting the $1 price mark faster. Notably, ChowWow’s ecosystem is designed to be both entertaining and lucrative. This unique combination sets ChowWow apart from most meme coins and allows it to thrive on active participation instead of mere hype.
The ChowWow ecosystem allocates up to 75% of its token supply to users. In comparison, most top cryptocurrencies allocate fewer portions of their token supply to the public. Ripple, for instance, only allocated 20% of its 100 billion coin supply. This not only justifies ChowWow as a truly community-driven project, but it also positions the CHOW token among the best cryptos to buy.
| Disclaimer: The text above is an advertorial article that is not part of Coincu.com editorial content. |
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