With its first token sale on November 6, 2021, Wakanda Inu is the newest player in the massively competitive cryptocurrency market. Its creators, who describe it as a “charity-oriented meme token that is entirely for social good across the globe”, attempt to establish it as a mainstream asset with real-world utility, especially for global nonprofits.
Still, financial analysts speculate on the viability of the newly launched token. While it has gained decent trade-in decentralized exchange, Pancakeswap, and 11 other marketplaces across Africa and Asia, cryptocurrency investors may be hesitant to mine for the meme token due to its inherent parodical nature. One of the prominent African exchange Sabii of Amber JC Lou Integrated Limited will be listing WKD soon as confirmed by their representative.
Cryptocurrencies, including the world’s leading token, Bitcoin, began as a new way of community trading. Operating on blockchain technology, cryptocurrencies were meant to give power back to the layperson. This was because of its decentralized structure that allowed for complete transparency in every single transaction.
Because tokens were mined and traded with no single regulatory board, users were assured of a significantly reduced risk of fraud. Developers of other tokens began to emerge, including parody meme tokens that featured popular internet avatars such as the Doge or The Black Panther and his country of Wakanda.
Nevertheless, Wakanda Inu has found solid backing among high-risk investors. When it launched, it generated a diluted market capitalization of more than $300 million, with 80,000 $WKD holders in just one week and growing rapidly.
The creators of the new token believe that its initial success is not a one-off event and expect it to improve in market viability in the next few months, especially as the token has adopted a 4% smart contract that supports various charities.
According to its white paper, $WKD began as a community meme project that represents the daily struggles and aspirations of every human being. By embodying the spirit of community, or in this case, Wakanda, the token desires to bring together people of different backgrounds under a single, unified flag.
* Disclaimer; This is not investment advice, more details regarding this token can be found at https://wakandainu.com
