MARVIN is a newest addition to the list of Cryptocurrency with the name Marvin Inu. It is presently valued at $0.00001449 with a 12.27% rise in the last 24 hours which has drawn the interest of the crypto community investors. This increase in price has catapulted Marvin Inu’s market cap to $6,096,690 placing it #3307 on the cryptocurrency list.
The trading volume for Marvin Inu over the last 24 hours is $ 239784 which is a very high of 63.35 %. These are early signs of increasing activity levels and the demand/liquidity for the token. Comprising the ability of a cryptocurrency to trade and move in relation to its market capitalization, the volume to market cap ratio currently stands at 3.93 %. The ratio displayed in this figure suggests that MARVIN is quite active in trading in relation to its market value.
An essential element within the framework of analyzing the state of Marvin Inu and its development is its supply parameters. They understand token distribution well with token details that include a supply cap of 420,690,000,000 MARVIN tokens. Peculiarly, this number also reflects upon the maximum circulation, which in its turn means that there would be no more tokens generated in the future. This fixed supply cap is considered as one of the protective factors against the state of inflation which make many investors in the area fond of the cryptocurrency.
Circulating supply of the tokens is 420,690,000,000 tokens, which means the market availability is at 100%. This means that all the MARVIN tokens that exist in the Market are already in existence and no other MARVIN token is planned to be mined in future. Token distribution rate such this kind of transparency can be attractive to investors who would prefer seeing clarity concerning of a project that has its token.
The fully diluted market cap, which factors in the total supply of token for Marvin Inu, come in at $6,096,690. This figure gives an insight of the potentially attainable capitalization in the event all tokens were in the market and at the current price.
Same as for many other cryptocurrencies, particularly those belonging to the low cap category, Marvin Inu has its strengths and weaknesses. That the price has recently gone up and the trading volume also has gone up could be as a result of increasing interest in the project. But on the other hand it is advisable that potential investors do their own homework in terms of fundamentals usage cases team and long term road map for the project.
The cryptomarkets is unpredictable, and thus the small cap coins such as MARVIN may extremely experience short-term movement in price. As these figures demonstrate, daily moves in the rates can provide traders with high volatility but also big risk. Of course, the same applies to such investments: investors should approach such options with certain precautions and invest only that money which can be considered as a loss.
Because the details on Marvin Inu regarding the purpose and the underlying technology behind it are not disclosed, its name hints at it being yet another meme coin. A lot of these meme tokens intend to use what most users love about memes on the Internet while at the same time focusing on serious value and practical applications in the crypto world.
To that end, the crypto community is known to support projects that seek to solve specific problems or use potential trends. However, if Marvin Inu has found a use case or a technological distinction that makes it significant enough to make people pay attention to it, it will one day get more attention and more funding. Nevertheless, competition and leaving a niche and searching for relevance in the environment of the burgeoning cryptocurrency market is not an easy task.
Looking into the future of the project as it progresses further and maybe even expanding it the future performance of Marvin Inu in price, usage, and overall market presence will be worth a further examination. The coming months can be critical to the MARVIN development as a more significant effort can be made to add it into the crypto environment firmly.
Altogether, Marvin Inu offers a unique proposition for the expanded new generation of cryptocurrencies. But since it has set its price performance recently and has specific tokenomics, it has received some attention in the market. Nonetheless, like every investment in cryptocurrencies, the potential investors should do that with their eyes wide open, and should consider the high risk environment of the cryptocurrency market before investing in any crypto projects.
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