Is PooCoin a real “shitcoin”? What it is, its tokenomics and future price predictions

According to the cryptocurrency tracker website CoinMarketCap, there are almost 20,000 cryptocurrencies. Due to the high number of new coins emerging almost daily, it is getting incredibly harder to track projects that might be worth looking at, especially with all the “shitcoins.”

“Shitcoin” is a derogatory name for an altcoin, which is usually used by Bitcoin maximalists and supporters. According to many of them, all the altcoins are shitcoins. Whether you agree with that or not, one of these “shitcoins” is literally called PooCoin. And while this might sound like a proper “shitcoin,” the truth can be a bit more surprising.

What is PooCoin?

With the emergence of hundreds of DeFi tokens, the cryptocurrency world became a bit less legible and transparent. To help with that, numerous platforms developed different trackers. For instance, Ethereum has a DexTools, which is a real-time charting tool that provides buy/sell analytics. Yet, Binance Smart Chain, as one of the most dominant blockchains and platforms for creation of other tokens, did not have anything like DexTools. Until PooCoin was created.

PooCoin is a charting service that is offering a selection of different tools and features for traders of tokens featured on Binance Smart Chain (BSC). A multi-charting service is definitely the most famous and innovative feature of PooCoin. It also solves one of the problems that Binance Smart Chain had before and that was the tracking of trades between different tokens.

PooCoin thus helps with tracking of real-time buys and sells that the websites such as CoinGecko or CoinMarketCap could not provide for. Yet, PooCoin provides more than just that. PooCoin is also an intermediary that helps with the actual swaps of different cryptocurrency tokens that are done through PancakeSwap (V2). So, while it looks like PooCoin offers trading of tokens, it only serves as an intermediary.

Example of a trade of PooCoin, Source: poocoin.app

Another interesting feature is a Telegram Price Bot. It can be added to any group chat in Telegram. Through this, people in the chat can follow accurate prices, charts or other different data of the BSC-based tokens. All of this is free, which only increases the case for the usage of this service if anyone wants to track BSC-based tokens.

Example of PooCoin Telegram Bot, Source: phemex.com

PooCoin offers much more, since it also tracks newly released coins or newly added trading pairs and thus provides the participants in the markets with access to the newest investment opportunities. It also helps investors and traders with information on credibility of the project. It provides this with a carpet verification feature. This allows for verification of tokens, thus helping with building trust and credibility. Another feature, sniper watcher, allows the users to track bots used to launch sniper tokens.

Tokenomics of PooCoin

While the tokenomics of this coin are not the most difficult, there are still some parts that might need to be explained a bit. The overall supply of the token is 10 million PooCoins, with the current supply being shy above 5 million tokens. The protocol also contains a rule due to which no more than 100 000 PooCoin can be traded in one transaction. As of now this means that no more than 30 000 dollars cannot be traded in one transaction.

What is also interesting about PooCoin is the transaction fee. Each transaction has a fee of 8 %. Half of the fee is distributed to the existing holders of the coin, while the other half is burned. According to some experts, this however means that the PooCoin token is unusable, since the transaction fees are very high.

PooCoin also offers an interesting feature for its holders. The holders of at least 100 dollars’ worth of POOCOIN/BNB liquidity in the liquidity pool can disable ads and track other traders’ wallets. Holding more than 300 dollars in the LP allows the holders to display their trades as well as enables the wallet transaction tab. And for those who want to benefit the most, holding of more than 2 000 dollars in the LP of the platform is needed. The users who do this view trending websites and tokens with timeframes up to 30 minutes and can see the list of the 100 most popular tokens.

What happened with the ATH?

The current price of the token is around 0.3 dollars, with 38 dollars being the ATH according to the CoinMarketCap. Interestingly enough, this is not the same for CoinGecko, which only recorded the ATH of this token at around 12 dollars. There was supposedly a glitch at either of the websites, which causes this rather unusual anomaly.

Price chart of the PooCoin, Source: coinmarketcap.com

What is even more interesting is the fact that this type of division can also be seen with the future potential of this coin. The analysts see numerous possible scenarios for this coin, from extremely optimistic to catastrophic.

Uncertain future and price predictions

While it might seem like PooCoin has a lot to offer, which it certainly does, the predictions about the future of this token differ extremely. The best way to portray this might be from the price prediction point of view.  For instance, PricePrediction believes that the future of the PooCoin is bright and suggests that by the end of this year it can climb to over 1 dollar, with 3 dollars being the target for 2025, and almost 20 dollars mark by 2030.

A bit more realistic forecast was presented by DigitalCoinPrice who believe that this token will reach the one-dollar mark in three years, while by the beginning of the next decade the token can be valued around 3.2 dollars.

A bit less optimistic price prediction was presented by WalletInvestor, who does not believe in the future of this coin at all. On the contrary, they believe that PooCoin is a “bad” investment and that this cryptocurrency will fall down in price terribly. By the end of this year, they see the coin fall below 0.01 dollars, while they expect that it will not recover and will only fluctuate between 0.03 to 0.07 dollars for years to come.

Gov Capital provided the least optimistic prediction, if it even can be called a prediction since according to their analysis, PooCoin will go straight to zero by the end of this year. It needs to be mentioned though that they also predicted that PooCoin will trade around 0.03 dollars in April 2022, which did not happen.

Conclusion

While the name might suggest that PooCoin should be in the same category as all the other “shitcoins,” the value that this project brings might actually solve problems of the BSC platform and tracking of all the different projects it offers. Yet, analysts are very unsure of what the future of this token may look like. While some believe the token has an extreme upside potential, others are not so optimistic. Let’s thus see what the future really brings for this token.

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