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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Parody Coin (PARO) is a deflationary meme coin built on BNB Chain, formerly Binance Smart Chain (BSC). As a meme coin with a growing community of enthusiasts and investors, there is a general feeling that it will be as successful as Dogecoin (DOGE) and Shiba Inu (SHIB). Parody Coin also has room to break new ground and make history as it is more than just a meme coin. It is a utility coin with lots of opportunities for investors to earn passive income while holding PARO tokens for more significant gains in the future.
There is a big difference between PARO and other meme coins. Parody Coin has all the interesting bits that define meme coins and more. It is an ecosystem with several instrumental features that make it an attractive investment for token backers. Some of the features include the Parody Swap, Parody Bridge, and the Parody Market. The Parody Swap allows users to exchange any crypto for an equivalent amount of PARO tokens. The Parody Bridge is a mechanism for allowing users to transfer PARO tokens to various blockchains. This is an important feature as Parody coins are not limited to a single or few blockchain networks.
The Parody market is an NFT marketplace dedicated to Parody NFTs. Parody NFTs will be minted from existing NFTs and this is a privilege reserved for PARO token holders. It is worth noting that when a Parody NFT is created from an existing NFT, the real owner of the NFT can lock or burn their original NFT to gain ownership of the Parody NFT.
Parody dived into NFTs because the interest in non-fungible tokens will likely grow in the future. NFT sales exceed $10 billion in the first quarter of 2022 alone.
As Parody Coin builds products that bring value to the crypto ecosystem, its future can be determined by taking a look at its predecessors – Dogecoin and Shiba Inu.
These two successful meme coins have shown the world the power of meme coins, and how they can turn into reasonable investments.
Dogecoin is the original meme coin created to poke fun at cryptocurrencies. However, it is no longer a joke but a fully-fledged cryptocurrency with a huge following and enjoys the support of Tesla CEO Elon Musk. Dogecoin is traded on major exchanges and can be used by people to tip for content on Twitter and Reddit. These two social media platforms are important within the crypto world.
The other meme coin to take note of is Shiba Inu. SHIB capitalized on the success and support of DOGE to become one of the most popular meme coins. It was launched as DOGE's competitor, but developments within the industry have shown that the projects can both be successful. The two meme coins are in the top 20 list of digital assets when ranked by market capitalization.
Parody Coin is still in its presale stage as it raises funds to deliver on its goals. This is the time for early investors to take advantage of the token's low price. This has been the case with other meme coins and projects whose value has exploded after launching or listing on both centralized and decentralized exchanges.
The project has a clear roadmap that includes a smart contract audit by Certik, a leading blockchain security company. This will be followed by notable developments such as the launch of the Parody NFT marketplace. As it has a deflationary token model, the number of PARO tokens will not increase but decrease over time. The likely outcome is that PARO's price will increase, just as BTC's price is given a boost by the fact only 21 million bitcoins will ever be mined.
For more about Parody Coin (PARO):
Website: https://parodycoin.io/
Twitter: https://twitter.com/ParodyCoin
Telegram: https://t.me/PARODYCOIN_OFFICIAL
