If this is the first time you are hearing about the Kitty Inu project, you probably haven’t been around the crypto block long enough. But do not worry – we’ll take a closer look at this project to ensure you understand it properly. After explaining what the project is all about, we’ll also have a closer look at the KITTY token and how the smart contract might have affected its tokenomics. Of course, we will also look at the KITTY token’s price action on both smart contracts. This is where you’ll see that $KITTY is quite far from its all-time high (ATH) levels.
However, the most important part of today’s article will come in the form of real-time, on-chain data. First, we’ll show you the Moralis Money Kitty Inu page. The latter contains all the on-chain insights you need to determine whether or not the token is a good buy at any time. The most valuable way of using Moralis Money comes in the form of spotting the best altcoin opportunities. And, you’ll have a chance to learn how to do that in this article as well!
What is Kitty Inu?
Kitty Inu is a memetic crypto project that went live back in October 2021. However, this project is a lot more than just a meme coin. It is a decentralized autonomous organization (DAO) and also a play-to-earn (P2E) decentralized adventure (Kittykart). Furthermore, the project is all about its unique and strong community, which now (via DAO) runs the show.
A closer look at the “About” page on the project’s official website ensures everyone picks up the memetic vibes. But to throw the KITTY token in the same bag as other “useless/caseless” meme coins wouldn’t be at all appropriate. In case you don’t agree, just take a closer look at the project’s roadmap and how much it has delivered since 2021. Below, you can find some of the mention-worthy milestones.
The KITTY Token Milestones
- 2021:
- Fair launch of the $KITTY v1 token. No presale, no early launch, no team tokens, just an Uniswap pool, and sniper bots protection.
- Kitty Inu v1 website.
- Listing on CoinMarketCap, CoinGecko, Etherscan.
- Strategic partnership with Culture DAO.
- Advertising campaigns on Twitter, Facebook, Instagram, and Btok.
- New York City billboards advertising campaign.
- CNN and Yahoo (non-paid for) articles mentioning Kitty Inu.
- The Culture DAO Demo Day 2022 2nd place winner – Kitty Personality AI won second place in the AI Demo Day presented by Culture.
- 2022:
- Shopping.io partnership.
- Gokhsthein Media partnership.
- Advertising campaign using public transportation vehicles in Miami.
- Kitty Inu’s game nights.
- The project’s v2 website.
- The Kitty Letter – A bi-weekly newsletter about the Kitty Inu ecosystem.
- Roc Sol collaboration.
- New York City 3D billboard advertising campaign.
- 2023:
- Kitty Inu DAO formed.
- The DAO’s first committee election.
- Relaunch of Kitty Inu’s Twitter and Telegram accounts – the project’s Twitter and Telegram accounts are now owned and operated by the Kitty Inu DAO.
- $KITTY v2 token airdrop – a new v2 contract for the $KITTY token to improve performance and security. V2 tokens were airdropped in the 1:1 ratio to v1 holders, and v1 liquidities were moved to a new Uniswap pool for the v2 token.
- The DAO voted a 138B $KITTY builder grant for 9VRSE Inc. to create an ecosystem fund.
- First Katurday community event.
The above milestones are just for the KITTY token; however, the project has been active in other areas as well. For instance, the Kittykart game went from beta testing to being one of the NFT.NYC 2022 Best Play to Earn Mechanics finalists, and successfully completing many tournaments. To view all successfully completed stages and future plans for the Kitty Inu token, Kittykart, and 9VRSE, visit the DAO’s “Roadmap” page.
Tokenomics of the KITTY Token
The KITTY token transitioned to a new smart contract on May 20th, 2023. While the old token (v1) has been replaced with a new one in the one-to-one ratio, the total supply of $KITTY is now lower. It went from $1 trillion to $731,738,978,480 $KITTY, which you can see for yourself by visiting Etherscan:
As far as the allocation of the new KITTY token goes, 38% went into the DAO treasury. The remaining 62% went into public sale, where everyone had a chance to get some $KITTY.
V1 $KITTY Price Action
Before you open the $KITTY price chart, remember that the new contract went live on May 20th, 2023. As such, the chart will not show the price of the token before that point in time. However, you can use tools like DEXTools to view the chart for the old (v1) token address. So, let’s look at that chart together.
The above chart includes weekly candlesticks and covers the entire lifespan of the v1 KITTY token. The token started trading on October 25th, 2021, at $0.00000003133. The first five-day rally took $KITTY up to $0.00008865. The price increased by more than 2000x in such a short span. Then, the token cooled down a bit and was trading sideways for the next six days. But then it took off again and charted its ATH at $0.0002054 in less than three days.
Since that top coincided with the previous bull run’s top, the token hasn’t managed to reach quite the same heights again, at least not yet. The following bear market was hard on the KITTY token and did manage to bring the price to the $0.0000026-ish level. That’s more than a 98% pullback from its ATH!
However, you can also see that the token went on quite a run at the beginning of May 2023. This was most likely due to the anticipation of the migration to the new smart contract. The initial two-day 100% pump pushed the token through the resistance at the $0.000005-ish region. Then, it took a five-day breather just to pump further, reaching as high as $0.00002816.
The final red candlestick indicated the migration to the new contract, which is also our cue to look at the v2 KITTY token.
V2 $KITTY Price Action
There is much less data regarding the $KITTY price action for the new smart contract. As such, we can capture the entire chart within the four-hour timeframe. You can see that the hype by the migration pushed the price up in the initial four hours. However, it then ran out of fuel and topped at $0.00003075.
Next came a one-month, 66% pullback, which found the bottom at $0.00001111. Though on June 20th, 2023, $KITTY started climbing again. It managed to spike up to $0.00002519. At the time of writing, the token is trading at $0.00001940.
Here’s also a chart that combines the old and new smart contract price action to help you get an even clearer picture:
Kitty Inu Price Speculation
Given all the development of the Kitty Inu project, it’s highly likely that $KITTY will be able to surpass its ATH from the previous cycle. So, we can speculate that the token’s price could surpass the $0.0002054 level in the upcoming bull run.
However, since the project is still a low-cap gem (at the time of writing, the market cap sits at $14.44 million), it has the potential to go much further. Given that the token is also involved with the P2E Kittykart game, we could compare it with Axie Infinity (AXS).
So, if we divide AXS’ ATH market cap by KITTY’s total supply, we get a speculative price of $0.01336. That’s another 688x-plus from the current price level of $KITTY.
Now, before you decide to get your bag of this meme/P2E/DAO token, make sure to consider its real-time, on-chain metrics.
Kitty Inu’s On-Chain Data
So far, we’ve covered Kitty Inu’s fundamentals and technical analysis (TA). Both FA and TA can be pretty useful, especially if you dive into FA and TA deeper. However, no matter how much time you spend on fundamentals and technicals, they cannot provide you with the same insights as real-time, on-chain data.
On-chain activity always precedes price action, and thanks to Moralis Money, you can now view these types of valuable info in a user-friendly and actionable manner. This powerful yet easy-to-use on-chain tool offers special pages for all tokens on all leading blockchains.
All you need is a token’s smart contract address. Now, to assist you even further, you can use the interactive widget below to access the KITTY token’s on-chain metrics directly from within this article.
Make sure to use that widget to explore the most vital on-chain metrics on various timeframes. This approach will enable you to determine if the token is gaining or losing on chain momentum. If the momentum is increasing, that is a good indication that the price is likely to increase.
Plus, the Moralis Money token pages also include other useful links and tools to help you explore the token in question further. These pages are a great tool to do your own research on individual alts.
However, no matter how amazing the token pages are, they are, in fact, Moralis Money’s secondary feature. The primary one is all about finding altcoins before the pump!
But before we show you how to start using Moralis Money’s primary feature, let us remind you of how big of an opportunity altcoins actually present.
Beyond the KITTY Token – Incredible Altcoin Opportunities
If you’ve been around the crypto space in the past two cycles, you probably don’t need this reminder. However, if you are new to the realm of alts, it’s worth pointing out that the average altcoin tends to increase by 50-70x in value during the bull run.
A solid and tested tactic is to find altcoins with good potential and positive on-chain metrics early (before the bull market takes off). This is the method we used to get our bags of EGLD, MATIC, and many other alts in the last cycle. By doing so, we were able to pocket 90x-plus returns.
But back then, we didn’t have an incredible tool like Moralis Money at our disposal. We had to do our on-chain analysis manually, and it was extremely time-consuming. However, now you can get the same insights in a matter of seconds. As such, you can also easily focus on shorter timeframes and ride multiple waves from the button to the top.
That said, you don’t have to wait for the bull run to start pocketing serious altcoin profits. After all, individual alts or an entire type of altcoins tend to go on massive runs through the cycle. For instance, just look at the 2023 memecoin season. The latter propelled many tokens on 10x, 100x, or even 1000x rallies in a matter of days. Some latest examples include MEMEVENGERS, BAD, PLANET, DAOMATIAN, 4CHAN, and many others.
Now, if you really want to be blown away by what’s possible in the altcoin sphere, just look at the PEPE’s rally. This meme coin increased by more than 100,000x in just 21 days!
How to Start Spotting the Best Altcoin Opportunities with Moralis Money Today?
Some of the above examples are obviously quite rare (e.g., PEPE); however, those 50x-plus gains are on the table more often than most folks realize. That said, it all comes down to getting your timing right. Fortunately, you’ve already learned how to cover that part by using the on-chain data for individual tokens.
But how do I spot those opportunities in the first place?
Moralis Money’s Token Explorer feature is the answer! You can start using that powerful tool to your advantage today. Just apply the following tips and animations.
- The simplest and fastest way to get going with Token Explorer is to select one of Moralis Money’s preset filters. They await you on the tool’s homepage as well as in the top menu:
- The dynamic lists of tokens generated by the preset filter are a great start; however, they are available to all users. As such, you want to start running unique queries. So, simply apply your unique combinations of Token Explorer metrics, their values, and timeframes:
- Explore and experiment with all available metrics. The following guidelines will help you get going:
- Apply the Coin Age metric if you want to target newly minted altcoins.
- If your goal is to identify the best opportunities among the alts that have been around for a while, apply the Market Cap filter.
- One or different combos of metrics like Buyers, Experienced Buyers, Experienced Net Buyers, and similar will help you filter out tokens that are gaining/losing the on-chain moment.
- To reduce your risk of entering scammy tokens, add the Security Score filter.
- Remember to save your winning filter combos and start running them on autopilot:
- Don’t forget to use Moralis Money token pages to DYOR on alts before entering any trade:
What is Kitty Inu? On-Chain Analytics for the KITTY Token – Summary
In today’s article, you had an opportunity to find out what Kitty Inu is and what role the KITTY token plays. You now know that despite its memetic nature, this crypto has proper utility – the project includes a functioning P2E game and an active DAO.
We also looked at the token’s price action, determining that $KITTY had already bounced off its low and that it’s still about 10x below its ATH. We even speculated that the token could potentially increase by 600x-plus in the upcoming bull run.
However, the core value of today’s article came in the form of Moralis Money. Along the way, you learned how to use this tool’s individual token pages to explore the token’s real-time, on-chain metrics. That is the way to get your trading timing right. Plus, you found out how to use Moralis Money’s primary function and start spotting the best altcoin opportunities.
So, make sure to visit Moralis Money’s homepage or use the interactive widget below and start applying the above-provided tips. You can explore Ethereum and many other blockchain networks, including BNB Chain, Polygon, Arbitrum, Fantom, Optimism, and even PulseChain.
Nonetheless, do not forget to collect your Moralis Money Beans!
