In a world where the popularity of cryptocurrencies will only rise in the future, a new contender appears to be making its way into the market. The token that has gained some astronomical improvement is VIVEK which is popularly called the Head of D.O.G.E the price of this token is at $0.0004289 and it rose by 15.99% after 24 hrs. This sharp increase has prompted ripples within the crypto space, with many asking themselves about this meme-based currency.
Having a current market capitalization of $420 340, VIVEK has recently risen to the big leagues, especially in the highly volatile and competitive market of cryptocurrencies. It is also worth noting that the trading volume of this token is at an astonishing $210,970 in the last 24 hours, with a 91.15% increase. The increase in volume indicates an enthusiasm for trader entrance and investors who are more than willing to invest in the token.
Perhaps the most attractive feature of VIVEK is its availability – or lack thereof – as the program is designed to be scarce. Here, the total and maximum number of tokens stands at 979.99 million and is quite huge or relatively large, and this, in combination with rationalization, can become a critical factor in the increase in its cost. According to the circulating supply reported by the project, it aligns with this number, meaning that all tokens are in circulation today. This decentralized approach to token distribution has been appreciated by the crypto community and will ensure confidence among investors.
Following on from a fully diluted market cap, the fully diluted valuation (FDV) for VIVEK is $420,340. This significant equivalence between the market capitalization and the FDV mean that the current price of the token reflects the total value of the token supply. Such consistency is usually considered positive by investors, who, in turn, endeavor to determine the actual value of the securities they own.
As for the liquidity aspects, VIVEK entered the top list with a volume–to–market capitalization rate of 50.40%. It is valuable, especially for traders, as this means that the token should be easy to buy and sell without affecting the price significantly. The numerically expressed high ratio can be attributed to the keen interest and interaction of the market with respect to the token.
With the name of ‘Head of D.O.G.E’ one had a feeling of the Dogecoil cryptocurrency, which also has its fair share of the highs and lows. It’s possible that through linking itself to the “doge” meme, VIVEK may be trying to set itself up for similar rousing of the community as we have seen with many meme coins. It may be efficient in accumulate a loyal audience and create a hype around the token.
Nevertheless, like any other tokens, purchasers should exercise a reasonable measure of caution when planning to invest in VIVEK. For a long time, the market of meme coins has been considered to be highly volatile and somewhat unpredictable. On the positive side, the prices have recently gone up, and the volume of transactions has also gone up, albeit the fact that they went up quite drastically in a concise span of time, which leads to other questions. People should also look at their tolerance level toward risk before investing in VIVEK or any other digital coin.
Continue right from the previous point, success of VIVEK till date could be attributed to a number of factors such as; a) It’s scarce b) sound tokenomics c) Infiniti branding. The crypto community has always been supportive of tokens that have that special narrative or those that deal with something humorous, and VIVEK does this right. It might also benefit from the images it’s most often related to getting recognition on social media where so many meme assets find much of their audience.
Indeed as VIVEK gathers pace then it becomes important that the project remains as open as possible and begins to communicate with a larger community. The altcoin market is rather a saturated one, and the project tends to hyave a long and steady run if it manages to fulfill its road map and cope with the challenges that the market puts in front of it. Nevertheless, the members of the team behind VIVEK will face these issues to develop the eventual tokenization of VIVEK as viable and sustainable.
To sum up, VIVEK has indeed stirred some attention in the cryptocurrency business circles in the recent past. A significant increase in its price, growth in trading volume, and nicely developed tokenomics have placed it as one of the most attractive coins to diversify the crypto portfolio. But, as is the case with any investment in the realm of cryptocurrencies, while giving some credibility to some potential buyers, one has to exercise caution and perform research themselves. That is why only time will show whether VIVEK is capable of maintaining the growth rate and firmly entering the constantly evolving list of cryptocurrencies.
