The cherished cat of Vitalik Buterin has become a beloved member of the Buterin household and the blockchain community. It was recently revealed on an Instagram post, what the name of this feline companion is: Hemule. It didn’t take long before a coin was named after the cat. It shows how fast the crypto community caught on to it and made a crypto token that launched not long after.
Hemule Token and Price
Hemule is an Ethereum on-chain meme token. Trading is possible by using their Contract Address 0xeaa63125dd63f10874f99cdbbb18410e7fc79dd3 on Uniswap. One thing that stands out immediately is a 0 tax system, whether buying or selling. The volume has reached an incredible $25M in less than a day. The market cap is currently $6.36M. In just one day, the team behind the project has already shown what it is capable of.
Utility
The project aims to open a Medium that tells the tales of the cat, introducing the world to the new cat on the blockchain. Embracing a community-driven project, the project aims to be fully decentralized, with no ownership of the contract, 0 tax, LP burned, and no team tokens. With security at the forefront, liquidity is burned for longevity, ensuring sustainability and prosperity for all investors.
Team
Hemule’s team is certainly putting things to work. With CEX listings confirmed, it could maintain a positive flow. The team has made Vitalik the top holder of the token, allowing new members to see that Vitalik is part of the holders. This enables an even stronger positive reaction from potential investors.
All of that is very positive, but now we must come to our research that raises some questions. Our bot has confirmed that there are similar contracts present. Here are 10 projects that had a similar contract. Most of them rugged the project, whether it was a slow rug or by modifying the tax. Now, the ownership has been renounced, so we believe that the team has better intentions than the other projects.
Keep in mind that the team has set the tax to 0%, so no marketing money is coming in unless they have a marketing wallet at their disposal. This raises the question that whenever the project is at a very high market cap, the team will dump their tokens and let the project die out. That remains to be seen, but we believe that this team wants to create the best possible project. Certainly, with this hype, they could potentially grow to one of the best meme tokens on the Ethereum chain in 2024
Community
In terms of community, it is certainly the best one so far. With an active Telegram group, consisting of more than a thousand members, a lot of different users are active on the chat—the same thing with their X account. If one thing is sure, it is that this coin can reach skyscraping heights if the community stays active, emphasizing the community-driven factor. No market capitalization is aimed too high if, in the coming weeks the community can grow larger.
Conclusion
On the Ethereum chain, it was about time that the meme token scene changed. Hemule is doing the right thing in terms of marketing and engaging the community as much as they can. With the right play, it could become one of the best meme tokens in 2024. We believe that the short-term profits are high and long-term profits are high as well, depending on the market and popularity of the cat, this can change anytime. We recommend to DYOR before investing and only invest money you are willing to lose.
