ZKSync to BNB Chain, a Review of Cheems' Cultural Resilience and Price Expectations
远山洞见2024/11/26 09:02
By:远山洞见
I. Project introduction
Cheems is a Meme project built around the classic internet meme "Cheems". This small and cute Shiba Inu, known as the "King of Memes", carries the humor and emotions of global internet culture. Now it has successfully penetrated from Web2.0 to the encrypted world and become a model of community-driven projects. The Cheems project not only attracts a large number of fans with its strong IP endorsement, but also strives to create a truly community-centered and completely decentralized cultural symbol in the Meme ecosystem.
The development process of Cheems is full of drama and counterattack colors. Since its first publication on ZKSync in 2023, it has become one of the hottest Meme projects in the ecosystem due to its high popularity. Despite experiencing setbacks such as contract FUD and almost zero, Cheems did not sink. Instead, with the team's resilience and community support, it replaced contracts, completed migration, and even reached an exclusive cooperation with ZKSync's mainstream Dapp Syncswap. In 2024, Cheems successfully migrated to BNB Chain and quickly attracted more users, and the community's active level continued to rise.
Whether it's the penetration of humorous culture or the true implementation of decentralization, Cheems is redefining the value of Meme tokens in its unique way.
Narrative Description
Cheems is the little Shiba Inu that makes people "unforgettable at first sight". It is not only a symbol of Meme culture full of jokes, but also a spiritual symbol of countless crypto market investors. From internet culture to the crypto world, Cheems' journey has always been full of drama.
Initially, it emerged from ZKSync and almost became a breath of fresh air in the dead chain ecosystem. Even when contract issues were questioned and prices once hit zero, it still stubbornly moved forward with the power of the community. From the glory of ZKSync to the rebirth of migrating to BSC, Cheems token carries not only the hope of investors, but also the stunning reshaping of Meme culture.
Nowadays, Cheems, which has migrated to BNB Chain, is once again revitalized. With its unique community governance model, huge IP endorsement, and growing global community, it is attracting more and more attention. Through the continuous construction and dissemination of the community, Cheems has gradually become a classic symbol of the cryptocurrency market, symbolizing a spirit of regaining faith from falling.
Whether it's its exclusive partnership with Syncswap or its continuous breakthrough in market value, Cheems has been proving its potential to the market with practical actions. It is not just a simple "joke coin", but a profound carrier of cryptocurrency culture and a legendary story that is still being written.
Believe that Cheems is not just a Meme, but also a symbol of community strength and unity. In the future, this little Shiba Inu will continue to lead its supporters to explore the unknown and welcome more shining moments!
III. Market value expectations
Based on the initial circulation of Cheems, which is 187,495,034,775,398 tokens, the current token unit price is 0.0000007177 US dollars, and the circulation market value is about 134,863,412 US dollars. Referring to the circulation market value of the benchmark project below, the potential token prices of Cheems at different market value levels are calculated.
Benchmark project market value reference:
1. Simon's Cat IP authorization memecoin: Simon's Cat ($CAT)
Token unit price: 0.000047 dollars
Market capitalization: $319,082,559
Assuming Cheems reach a similar market value, the token price can reach about:
0.000001701 dollars, an increase of about 2.37 times.
2. Veteran Meme token: Pepe ($PEPE)
Token unit price: 0.000019 dollars
Market capitalization: $8,030,678,592
Assuming Cheems reach a similar market value, the token price can reach about:
0.00004283 dollars, an increase of about 59.69 times.
3. Meme coin that inherits the concept of Doge: Neiro ($Neiro)
Token unit price: 0.001821 dollars
Market capitalization: $766,160,818
Assuming Cheems reach a similar market value, the token price can reach about:
0.000004084 dollars, an increase of about 5.69 times.
IV. Economic models and on-chain chip analysis
Cheems is based on 100% fair publishing, without team reservations or hidden taxes. All tokens are allocated to early users of the ZkSync network through airdrops, attracting a total of 65,090 addresses to receive tokens. The initial total number of published tokens was 690,690,690,690, and the current circulation has decreased to 219,776,051,832,670 tokens, with a total reduction of about 470,914,638,858,020 tokens due to two destroyments. In addition, the usage scenarios of $Cheems are clear. Some tokens are repurchased by the team from the market as liquidity reserves and to support the listing of CEX, further consolidating the liquidity guarantee of tokens in the market. The tokens that have not been migrated to BSC will be voted on by the community to decide whether to migrate to the chain or destroy, thereby enhancing the decentralized nature of project governance.
The current market value of $Cheems is maintained at around $140 million, with a trading volume of $50M in the past 24 hours.
In terms of on-chain distribution, the number of holding addresses of $Cheems has exceeded 47,806, among which the number of holding addresses has grown rapidly after migrating to BSC. From the perspective of holding dynamics, the main chips are concentrated in the hands of long-term holders, and the holding trend is relatively stable. On-chain data also shows that some large investors have shown significant signs of increasing their holdings in the past few days, indicating strong confidence in the future development of the project.
While the distribution of chips is stable, the active level of $Cheems' community is also a major highlight. After the official migration to BSC, not only has an active community discussion atmosphere been established on TG and Twitter, but also a large number of new customer engagements have been attracted. Currently, community discussions are mostly focused on project governance and ecological construction, and less on price fluctuations, showing a good community culture oriented towards long-term value. Nevertheless, the risk of concentrated holdings still needs attention, especially the high proportion of chips in the top 100 addresses, which may have an impact on the market in extreme cases.
V. Risk Warning
1. Meme projects are usually highly influenced by market sentiment and short-term speculative behavior. Despite Cheems' strong IP endorsement and long-term development potential, its token price may still experience significant fluctuations due to rapid changes in market sentiment, and investors should respond with caution.
2. The current on-chain data shows that the top 100 addresses have a high proportion of holdings. This centralized distribution of chips, while to some extent indicating the confidence of large investors in the project, may lead to drastic fluctuations in market prices in extreme cases. Once large investors sell off in a concentrated manner, it will have a significant impact on the token price.
VI. Official links
website:https://cheems.pet/
Twitter:https://x.com/LordCheems_bsc
Telegram:t.me/LordCheems_Bsc
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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