Everyone knows meme tokens ride on their popularity, celebrity influence, press endorsement, and FOMO. So naturally, you will expect them to suffer the effects of inflation.
However, some meme tokens seem to have great promise based on current inflation crypto market analysis.
First, we need to understand inflation’s meaning. We are not going into technical details like the consumer price index. We will keep it simple so you can understand the unique reasons behind inflation in 2022 and if inflation is good or bad for crypto, and the best anti-inflation crypto projects to consider
Inflation refers to the fall in the value of a currency, typically due to the massive minting of new currency units. The opposite is deflation.
Nowadays, many meme tokens have hyperinflation built into them. For instance, Dogecoin (DOGE)’s supply keeps increasing by the day. Yet, DOGE has managed to be one of the best-performing cryptos.
Is inflation good or bad for crypto?
Well, it depends on the crypto and thetype of inflation we are talking about. If you are talking about the increase in the amount of currency in circulation, then the inflation effect on crypto differs from that of fiat currencies. Fiat currencies typically lose value when there is too much currency in circulation. Currencies like DOGE can still maintain their value if demand can match supply.
As such, analysts recommend that investors focus less on a token’s inflationary nature, and more on how much value the token can add to their portfolio in the long term.
We have mentioned DOGE as an example of a meme token. Another great example is new crypto Mehracki Token (MKI) which is currently in its presale. The MKI token holds so much promise that many call it the best anti-inflation crypto.
Let’s examine the two tokens in detail.
Mehracki Token (MKI)
Mehracki Token (MKI) is a feel-good meme token centered around building positive value for the tourism and hotel community. It is built on the Solana (SOL) network, so users can enjoy quick transactions at a very low cost. The main targets of the Mehracki (MKI) project are tourists, hospitality providers, and other businesses involved in the tourism, travel, and hotel industry.
With the MKI tokens, travellers and tourists can make cheap borderless transactions without having to change currencies multiple times. Businesses will enjoy quick, seamless payment transactions without relying on centralized parties which will take a cut out of their profits.
The Mehracki (MKI) project also rewards users who make transactions with the MKI tokens. These rewards will be in the form of MKI tokens and reward NFTs, which can be redeemed for cash back or discount or traded on the Mehracki (MKI) NFT Marketplace.
The Mehracki (MKI) ecosystem operates as a decentralized autonomous organization (DAO). This means every holder of the MKI toker has a right to participate in the community’s decision-making process. They can also submit their proposals and vote on other proposals on the platform.
All of these features make the MKI a good anti-inflation crypto. Those who want to hedge their fund against the effects of inflation should consider buying the MKI token, which is currently on presale.
Dogecoin (DOGE) holds the title of the first meme token. It is a peer-to-peer (P2P) digital payment portal, designed to meme Bitcoin (BTC). It has grown in popularity and has attracted the support of renowned personalities such as Elon Musk the CEO of Tesla and SpaceX Elon Musk.
Mehracki Token (MKI) is currently available for a discounted price as it is still in its presale stage. If you have invested in the MKI token presale and have some funds to spare, you can consider buying some DOGE tokens. However, unlike the MKI tokens, DOGE mostly thrives on popularity, celebrity support, and endorsements.
For further information on Mehracki Token (MKI):
Join Presale: presale.mehracki.io/register
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