ValteThu, Oct 7, 2021 8:22 PM
Defying Gravity: ForeverFOMO Coin — A New Generation Cryptocurrency
We continue our DeFying Gravity series, talking about new, both weird and exciting projects in the crypto community that appear out of nowhere as mushrooms after the rain. This time the token with a new concept is out and we are going to take a deeper look at it to understand what the new coin is about and if it holds a chance to stay in the fast-changing crypto market and if you should really fear to miss it out.
What is the ForeverFOMO token?
ForeverFOMO crypto is a brand new blockchain project different from already common hold-and-share technology. It is a token with an elastic price and adjusting supply with the price moving towards the price of a Bitcoin. ForeverFomo token is rebased making it a synthetic commodity with a flexible value and constantly stabilizing supplies. The coin is created in a way that ensures its traceability and potentially promises a nice profit.
It works the way that ForeverFOMO supply changes every hour depending on the online dashboard. The algorithm rebases the asset 24 times a day without exceptions. The negative rebase works the way to amplify the ForeverFOMO price to get back to the positive rebase territory in the shortest time. In other words, every hour ForeverFOMO price rebases to increase the price by 10% through burning the supply. The goal for the coin price is to reach $1 500 000 per token. The token was launched in September 2021.
Simplifying the technology the process follows the next flow:
- Rebase is called;
- The total amount of tokens decrease (including the tokens in the user’s wallet);
- ForeverFOMO token price increases.
In this way the total value of your holding will not differ as the change in the ForeverFOMO price is balanced by the decrease of the token’s amount. Every investor will still have the same % of the total supply as before every rebase.
To get it as simple as possible, imagine you bought tokens for $50, and let’s say that supply was cut 5 times after the rebase. So now you have 10 tokens, but each of them costs $10 and the total value of your investments doesn't change. That was made to ensure that ForeverFOMO price will always increase which will obviously attract more investors through being listed on CoinGecko, CoinmarketCap, Dextools, etc.
The concept marks out the project from the other tokens and creates a constant organic demand and is also supposed to give a push for the new trading technologies so the investors can use the concept to earn more.
The project has been already officially audited by Techrate, but what’s more interesting it has already gained loads of support from the community reaching a record amount of followers in no time. Even after the attack on their CMClisting the project has recovered and relisted in just 12 hours. Moreover, it even got support from impactful social media influencers. The token is available for buying with a MetaMask wallet. ForeverFOMO can be bought from PooCoin and CoinMarketCap.
As mentioned before ForeverFOMO is one of the first-ever crypto projects with rebase contracts and just a 10% tax on the operations. from that 10%:
- 3% goes to the locked Liquidity Pool;
- 2% is allocated to the payback wallet;
- 4% is for the marketing campaign that supposes to push the token to new heights;
- 1% for ecosystem development.
At the time of publishing ForeverFOMO token price according to Coinmarketcap was $0.6959, showing a 4% increase in the last 24 h. The price was growing since the launch time with minor slides back. Trading Volume has risen 26% in the last 24h. The number of the holders also starts to increase steadily, at the time of publishing overreaching 10 k.
Even though it has been less than a month since the official launch the project has already achieved some milestones and its team works for more. The developers behind the project are unknown but all the time tuned and the Telegram community has over 5000 members.
ForeverFOMO coin now is going through the third part of the roadmap, successfully bypassing the support of the community stage, the listing and audit steps of the process. The next steps are planned to be more significant as the team expects to be more exposed to the promising Chinese market and to go through the additional audit.
The other level of the project is to move towards the community incentives and to start the explorer's program. It’s also planned to develop an NFT marketplace within a month since the launch.
ForeverFOMO price prediction is not provided by any analysts yet, because its metrics are still not enough for the forecasting, but the development team believes in the goal of $1 500 000 per token. It is not clear now how realistic the aim is, but it can potentially bring lots of profit to the investor.