Which Low Market Cap Crypto Might Have Upside Potential: Why Big Eyes Coin, RenQ Finance Failed
One issue facing many new cryptocurrency projects in 2023 is that they set a large hard cap target for their presale fundraising stage, then launched with a high market capitalization by the time of their IEO or IDO.
Crypto presales that have several price stages of incentivizing early buyers with a discount also add to that problem – inflating the market cap and FDV further and causing the common ‘ICO dump’ chart pattern in which early investors dump their coins on the market to take profit.
Analysts predict one upcoming low market cap crypto with huge potential upside is Thug Life Token (THUG), based on it having just one price stage throughout its presale – $0.0007 – and a low hard cap of $2,058,000.
Big Eyes Price Prediction
The Big Eyes crypto presale was one of the largest public token presales of 2023, initially setting a hard cap of 51.2 million USDT, and taking almost a year from its August 2022 launch to raise close to that, with various delays and other red flags.
The Big Eyes presale also set fifteen price stages, with a 600% increase built in, from $0.0001 to $0.0006, which incentivized early-stage investors to want to secure that profit. Its Uniswap listing in fact took place at a considerably lower price than the final presale stage price, also angering some investors.
However, even if it had been listed at $0.0006, with its 200 billion total supply that would mean a fully diluted market cap valuation (FDV) of $0.0006 x 200 billion = $120 million.
According to CoinMarketCap, Big Eyes token would have then ranked as the 7th largest meme coin on the market instantly, with only Dogecoin, Shiba Inu, Pepe, FLOKI, Baby Doge Coin, and Bone ShibaSwap having a higher market capitalization – all of which launched much lower in their early development, before building up to a higher valuation.
Even if it had then held that market cap without a sell-off from early buyers looking to take profit, it would have limited upside potential – a less than 10x move would break the $1 billion mark, which very few meme coins are capable of, Pepe being one recent exception – and even Pepe has now retraced to a $600 million market cap.
Big Eyes coin currently has a market of $2 million and may struggle to recover to the upside and regain investor confidence after the issues surrounding its launch.
RenQ Finance Price Prediction
The RenQ Finance price chart is similar to that of the Big Eyes token – a post-ICO sell-off with few bounces. The RENQ market cap is currently $15 million, lower than its presale hard cap of $19.3 million.
The RenQ Finance presale had eight price stages, with the RENQ token price varying from $0.02 – $0.055, a 275% difference.
Having faced similar issues to Big Eyes coin over its launch and roadmap, the RenQ price forecast in the short term doesn’t appear bullish.
Upside Potential of Low Market Cap Crypto Projects
Many new meme coins that pump tend to have their blow-off top around the $100 million market cap level, even if they do have a successful launch and initial rally without investors immediately selling their tokens.
For that reason, it’s optimal to find low market cap cryptocurrencies – one launching at a $1 million market cap for example, will return a 100x ROI if reaching the psychological resistance level of $100 million.
A new coin launching at $2 million will return a 50x ROI, one launching at $20 million return only a 5x ROI, and so on. If early investors are also already in profit based on different presale stages, they make take profit earlier than expected.
Thug Life Token Presale
The Thug Life presale has a set a level playing field with just one presale price stage, and has a low hard cap of $2.058 million.
70% of the total token supply of 4.2 billion $THUG is also available to buy during the presale, with the liquidity pool locked for three months after launch.
15% of the supply is allocated to marketing, and 15% to community rewards.
The thuglifetoken.com website describes the meme coin project as a ‘second chance for those who have been played, influenced and used as a cash-out, leaving held tokens valueless in a blink of an eye.’
The project aims to build a movement fuelled by the ‘shared struggle of hustling this web3 world, turning the bitter landscape of dumped presales into a prosperous place’ – its community focus centers around addressing the issues faced by the crypto ICOs of this year.
Its liquidity pool is set to be locked by Team Finance, and its community rewards program will take the form of airdrops once $THUG is listed on its first DEX, Uniswap.
$THUG can be invested in prior to its listing at one single price – $0.0007 – using a MetaMask wallet and swapping ETH or USDT for $THUG.
At the time of writing, $150,000 has been raised in the 48 hours since the Thug Life presale’s launch, showing the high level of interest in its concept and tokenomics that aim to offer investors a higher potential ROI than other 2023 crypto presales.
Disclaimer: The above article is sponsored content, and it’s written by a third-party, and is intended for promotional purposes only. It does not represent the opinions or the views of CryptoPotato, and nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post Which Low Market Cap Crypto Might Have Upside Potential: Why Big Eyes Coin, RenQ Finance Failed appeared first on CryptoPotato.
