Rocketize Price Prediction: Is Rocketize any different than Shiba Inu?

Rocketize Price Prediction: Rocketize can succeed in this clustered market only when they increase their actual utility once the market conditions ease out.

About Rocketize

Inspired by meme-tokens, the Rocketize project is a community-driven cryptocurrency. The platform is aiming to maximize the usefulness of Defi space by building bridges to link different networks (such as Fantom, Polygon, BSC etc).

To increase its utility, the Rocketize platform also aims to launch its NFT collection and NFT Marketplace by the end of phase 3 of the roadmap.

Hence, the Rocketize network is providing users with a merged version of meme coin and utility token in the form of JATO (its native token).

Rocketize Price Prediction: Rocketize Tokenomics

The native token of the Rocketize platform is JATO which is built on BEP-20 standard and runs on Binance Smart Chain. The coin will have a maximum supply of 1,000,000,000,000 JATO tokens. Following will be the two primary use cases of the JATO tokens:

• JATO token will support the crypto trades within the Rocketize platform.
• JATO tokens can be used to mint NFTs on the NFT Marketplace within the network.

Note that there will be a 2% tax on each JATO coin transaction and half of which will be distributed to the Rocketize wallet holders and the remaining will be transferred to the burn wallet. However, the tax percentage will be gradually climbed to 2%.

Rocketize Pre-sale: How to buy Rocketize during pre-sale?

Out of the maximum supply of 1,000,000,000,000 JATO tokens, 30% of the tokens will be distributed during the pre-sale period.

Following are the three easy steps to purchase JATO tokens during the pre-sale period:

• The first step is to select a cryptocurrency wallet such as MetaMask or Trust Wallet.
• The second step is to buy the $JATO token using other cryptos such as BNB, USDT or ETH.
• In the third step, users need to connect their wallets to Rocketize’s website so that they can claim the tokens once the presale period is over.

Rocketize Price Prediction: Rocketize roadmap

Rocketize’s roadmap is divided into the following three phases:

Phase 1: This stage includes the launch of its website, social media space station deployment, presale lift-off, and auditing of the project.

Phase 2: Stage 2 includes the presale giveaways, charitable partnerships, community launch and influencer rocket launch.

Phase 3: This phase includes the launch of JATO, NFTs and SpaceX shuttle and increased engagement in the communities.

Rocketize Reddit community discussions

Soon after the launch of the Rocketize network and the start of its pre-sale, the crypto community started to discuss its potential.

In a recent discussion on Reddit, where one user started the discussion that Rocketize and Polkadot are the best coins for crypto winter, various Reddit users have mixed viewpoints.

One user commented that Rocketize is cannot be the best in the bear season, though it can perform better in bull season. While another user wrote that Rocketize probably won’t survive one week after the launch.

As of now, the Reddit community doesn’t have overall positive sentiments for this crypto. However, being a community-driven cryptocurrency, Rocketize might need a loyal community to help its price go higher after its listing.

Rocketize Price Prediction: COMPETITOR ANALYSIS

The Rocketize platform is primarily inspired by meme coins available in the market. As per its whitepaper, Rocketize wants to be the official currency of Elon Musk’s SpaceX. As per data, there are more than 200 meme coins already floating in the market.

Top meme coins

The two top meme coins in the market are Dogecoin and Shiba Inu.

Dogecoin- Dogecoin is a meme token that gained popularity mainly because of Elon Musk. DOGE’s total token supply is not capped and hence there is no limit on the number of tokens minted. However, until now, Dogecoin doesn’t hold much utility apart from being used as a tipping system on Twitter and Reddit for the purpose of rewarding quality content.

Shiba Inu- Shiba Inu is another meme token which was introduced as an alternative to Dogecoin. Once after its lunch as a mere meme coin, Shiba has expanded itself to increase the actual utility of the token and has added many projects to the network such as Shibaverse, Shibarium, Shibaswap etc. it is even accepted by a few online and offline outlets as a mode of payment.

Price movements of the top competitors

Let us also analyze the price movements of the above-mentioned potential competitors of the Rocketize platform i.e., Dogecoin and Shiba Inu.

	Dogecoin	Shiba Inu
Performance in the last 1 year	-48.7%	-68.2%
Performance in the last 3 months	+24.7%	-10.1%
Performance in the last 1 month	-11.5%	+1.1%
Performance in the last 7 days	+6.5%	+6.7%

As we can see that the above-mentioned cryptocurrencies have declined by a huge number for a year, meaning that 2022 wasn’t a great year for DOGE and SHIB. Furthermore, Dogecoin has shown high volatility during the entire period.

The drivers of the meme coins (factors essential for Rocketize price prediction)

Meme coins are heavily driven by their community because they do not have actual use cases. Therefore, their prices are highly influenced by social media sentiments.

As we say in the case of Dogecoin that its price is highly driven by Elon Musk’s tweets. Whenever there is some positive tweet by him, DOGE’s price goes up quickly. Therefore, three major factors that drive the prices of the meme coins are:

Community- As the meme tokens are purely based on their community, their prices are also affected by them. Note that, until now, Rocketize’s community doesn’t have an overall positive sentiment for its prices.

Social media sentiments- Social media platforms such as Twitter highly affect the prices of such community-driven meme tokens because people are active on social media these days.

Use cases- Though meme coins don’t hold much utility when they are launched, the increase in utility and use cases is definitely required to help them make a good position in the market. Rocketize’s probable use cases can certainly add to its utility in the future.

Does Rocketize has possible use cases?

Rocketize is aiming to launch its NFT collections and marketplace to increase its utility in the domain.

As per the data is concerned, the NFT market is expected to grow at a CAGR of 34.2% by the end of 2030. Therefore, Rocketize can have a scope of growth once its NFT collections and marketplace are launched.

Moreover, it is planning to build crypto bridges to link different blockchain networks.

Is Rocketize any different meme coin than Shiba Inu?

Shiba was launched as a mere joke as a “Dogecoin killer” with no actual utility. However, with time, it has launched many projects to increase its utility in the domain and now has made a good position for itself among crypto users.

On the contrary, Rocketize is launched with the aim to expand the possible use cases of decentralised finance. It aims to link different blockchain networks such as Fantom and Polygon by building bridges. Moreover, it aims to be a part of the growing NFT industry as well (which can be a distinction when compared to Shiba Inu).

Also Read: Shiba Inu Price Prediction

Rocketize Price Prediction: Market conditions for meme coins

As we discussed, the market is already flooded with meme coins, but not all can gain the attention of users to a similar extent. Moreover, in the case of Dogecoin (as it doesn’t hold much utility) its price is never stable and shows a lot of fluctuations (as we can also see from the above table).

While on the other hand, Shiba’s price is comparatively stable because it has certain use cases when compared to other meme tokens.

Therefore, it means that increasing utility is the key for a meme coin to be successful in the market.

However, other factors that govern the crypto prices are inflation, liquidity and CPI Index. Data says that inflation can remain hot this year and liquidity conditions are certainly not in the favor of the crypto market until now. While the latest CPI Index report says that it has increased slower compared to the previous month (which can be a positive indicator).

Therefore, meme coins (such as Rocketize) can succeed in this clustered market only when they increase their actual utility once the market conditions ease out.

~Charu Taneja

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.