Solana, a layer one protocol and highly functional open source project from Geneva, Switzerland. A blockchain of permissionless nature providing decentralized finance solutions since 2020, although it has been in the making since 2017. Through it’s proof-of-history (POH) and proof-of-stake (POS) consensus combined it can realise a very efficient blockchain with low fees. The blockchain has had a lot of hype throughout 2021. You might wonder what was still missing in this ecosystem? Ofcourse, a dog themed memecoin! Because Solana is a bit different, it’s not a Shiba Inu but a Samoyed coin.
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What Is Samoyed Coin (SAMO)?
A “samoyed” is a dog species originally from north eastern Europe, same as Solana’s beloved co-founder Anatoly Yakovlenko. The animal made for cold weather. It’s very furry and snowy white which makes it really cute. This might be the reason that the creators of Samoyed Coin chose this dog breed to be the ambassador of the Solana blockchain.
The literal meaning of a “Samoyed” is considered derogatory, as it means “self-eater” in Russian. This term might have been used to call these people cannibals. Although some reject this etymology and instead trace the term’s origin to the expression saam-edne, meaning the Land of the Saami people. The dog breed takes it’s name after these Saami people. Humans have used this dog breed for hunting, herding reindeer and hauling sledges. It has existed for a long time and predates modern dog breeds. Legend goes that the dog is more than 2,000 years old. Saying goes that the current dog breed is related to an ancient arctic lineage. These dogs are fluffy and cute, but they seem to have been around for a long time. Are they as wise as they are cute?
The cuteness combined with the utility this dog breed has shown humans must have inspired the creators of the coin to choose this breed. On the one hand the community is attracted to the cuteness of this dog. On the other hand the cheap transactions and utility this token is set out to bring. Alltogether this is a very attractive deal to investors which see the potential of SAMO. The Solana blockchain has very low fees, so there are alot of use cases to be made for this fluffy animal token. Will the coin have as much utility as the dog breed has had in human history?
History of Samoyed Coin
Walking in Dogecoin’s pawsteps is a hard thing to do, and SAMO is the first to do it on the Solana Blockchain. The goal of the token is to be community-owned and fun. Inspired by Dogecoin and having some reference to Sam Banker-Fried (CEO of Alameda Research and FTX exchange) and Antatoly Yakovenko (CEO of Solana).
SAMO was born in april 2021 with a max supply of 14 billion SAMO coins. The token is now in the top five largest meme tokens on Coinmarketcap. It still has a long way to go to get to Shiba Inu and Dogecoin, but it’s holding up pretty well.
The team airdropped some SAMO tokens to early SOL holders. Captain Inu approves of this charitable gesture from the Samoyed team. The dog coin profited from the enormous growth of the Solana blockchain. The blockchain grew around 800% in a couple of months time to reach it’s all time high after a run of 1400% gain before that. While at the same time SAMO did a run with more than a 6000% gain to it’s all time high of around $0.2.
What Makes SAMO Unique?
One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus. This concept allows for greater scalability of the protocol, which in turn boosts usability. Samoyed Coin uses this at it’s advantage and bring’s crypto to the masses by being cute and memeable. It gives SAMO the power to be one of the fastest, greenest and cheapest memecoin in the scene.
Pushing the limits of whats possible for Web 3.0 community and filling the role of a friendly community guide dog for the Solana and broader crypto asset ecosystem. The sign of approval is evident in this case, as Captain Inu has similar goals. We both want to bring crypto technology to the masses by involving the community and education.
How to buy Samoyed Coin (SAMO)
Where can you buy SAMO? You can buy SAMO on both centralized (CEX) and decentralized exchanges (DEX). The token started out with the dexes on Solana, like Raydium, Serum and Orca. It also listed on some smaller centralised exchanges, for example; Gate.io, LBANK and BKEX. SAMO has not yet been listen on the biggest exchanges. A listing on Binance, Coinbase, KuCoin or Kraken could have a very positive impact on it’s price. Apparently the coin is set to list on FTX exchange any time soon. Let’s see what this does to the project.
Warning: Many shady figures operate in the Inuverse. When buying through a decentralized exchange make sure that your funds are SAFU by always verifying the following:
- Check if you are using the correct URL for the dex you are using. Some scammers place google ads on these search terms and inconspicuously change one or two characters in the URL. Connecting your wallet to the wrong URL is risky and may result in you losing the funds in your wallet.
- When buying coins through a decentralized exchange always make sure you check the contract address of the coin you are buying. Do this through a verified source such as CoinGecko or Coinmarketcap. There are many fake coins going around that use the same or a similar ticker name as SAMO. Buying these would mean you invest in the wrong coin and you could potentially lose your money.
Captain Inu’s crew is always serving the Inu Metaverse community and does it’s best to protect new community members.
Samoyed Coin Price
Currently the price of SAMO sits at a mere $ 0,02 , which is a 90% correction from the all time high. Might this be a good buying opportunity for this doggo? This is still a 10x from the bottom of where the pump started, so the project is still very alive.
SAMO hit all all-time-high of $0.246 on October 29th of 2021. On november 6th it had a record $103 million in 24-hour volume. The project has 50,000 holders and more than 60,000 Twitter followers and 15,000 Discord members. The market capitalization at the time of writing is around 100 million dollars. Already have FOMO for SAMO?
Samoyed Coin Price predictions
The most important question is, where can SAMO go in the near and more distand future. You may be wondering if buying the SAMO token is a good investment. Currently the market cap of SAMO is sitting at $50m which is quite a big drop from it’s peak of about $500m in October 2021. The fully diluted marketcap is sitting at 157m at this time of writing. However memecoins are struggling in the current market conditions, but they may still have a revival at a later point in this bull market. After reaching 50,000 holders, the next milestone for Samoyed Coin is to get to 100,000 holders and list on more exchanges.
The price of Samoyed has had a drastic correction and may have capitulated at this point. Solana also had a big correction, if the native token of the blockchain is able to bounce back, Samoyed may have significantly larger gains. However the team and community need to really look at their strategy and with a couple of catalysts the price may stabilize and grow from here.
Always do your own research this is not financial advice.
Conclusion
In conclusion looking at this project, Captain Inu is a very happy dog. Woof! Although the price has had a huge correction, let’s see if this fluffy dog coin is able to bounce back. Therefore Captain Inu gives the project the stamp of approval as far as it goes for cuteness. Let’s see what the team and community of this project can do in the next phase of the crypto market cycle.
Want to learn more about other Inu projects Captain Inu is watching for potential partnerSHIBs? Take a look at our news section.
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