BSC-based Memecoin MINU Soars 1000% in 7 Days
MINU, a memecoin based on the BSC network is now up more than 1000% in the past seven days. Find out whether it is worth buying.
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MINU, a little-known memecoin on the BNB smart chain, has been on fire over the past week, gaining more than 1000% in just seven days.
Per CoinGecko data, the memecoin continued its positive performance today by adding 122% to its value. The gains now mean MINU is up more than 1,200% in seven days.
The memecoin performance highlights the general market excitement surrounding digital assets. Major cryptocurrencies such as Bitcoin and Ethereum have breached milestone prices, with BTC over $50k and ETH above $3k.
However, the flagship assets also saw dips in value today. But that general market decline did not affect MINU as it continued its rally.
MINU market cap has reached $8 million following its gains today. That is more than double its market a day earlier.
Meanwhile, trading volume has dipped by 16% from over $5 million yesterday to its current $4.2 million. But the volume remains very strong, which shows sustained interest.
Despite its current performance, this is not its best price. MINU is down 20% from its all-time high price of $0.00000163 on February 20.
All About Minu
MINU is one of the best-performing meme coins on the BNB Smart Chain. The token has been around for over a year and describes itself as the first mining dogecoin on the network.
According to its website, the token offers 8% daily returns to holders for mining BNB and promises up to 2,920% ROI.
Mining essentially requires spending BNB to hire Miners and later collecting the profits. However, there is little information on how the mining process works and why users should spend their BNB on it.
The total supply is 6.92 trillion tokens, with the currently circulating supply at slightly over 6 trillion. Based on this, its fully diluted value is around $10 million.
Should You Buy MINU
Although the website suggests the project has some utility, MINU appears to be primarily a memecoin. This means speculation is the primary factor driving its growth. Thus, buying is risky, especially now that it is pumping.
However, it has been around for more than a year, so a rugpull is highly unlikely. It currently has over 7,000 holders with liquidity above $400k.
Besides the obvious risks of being a memecoin, MINU seems like a good buy. Security-wise, Cyberscope gives a risk score of 81% and an audit score of 96% based on two audits. It has a 68% rating for security due to unresolved issues.
The major issues with the project appear to be its tax on all trades and the fact that the tax is modifiable.
For anyone looking to buy MINU, it's not listed on any major centralized exchange yet. But it is available on the leading BSC decentralized platform PancakeSwap.
