Memecoin, RichQuack, was the most watched crypto token in August, according to data from CoinMarketCap, with more than 229,000 CMC users adding it to their watchlist.
The crypto market analysis report from CoinMarketCapdisclosed that the number of users who added RichQuack to their watchlist in august was more than double that of the second most watched token, Senso.
By comparison, Bitcoin, the most watched token in July, was in fifth place this time, and Ethereum followed it. The tokens in third and fourth place were Cellframe and Arbitrage token.
RichQuack is a meme coin based on BSC Chain, and it also had the most social activity among tokens on BSC. Much of its success in august is due to its strong community.
With almost 270,000 followers on Twitter, over 50,000 members on telegram, and 19,400 Discord members, it has a strong community behind it. In addition, 2.17 million people now have the token on their watchlist on CMC.
The token recently reached a record of 128,000 on-chain users. RichQuack was originally launched in 2021 to rival Dogecoin, and it is designed to generate liquidity in the form of payouts and static rewards for holders.
But it’s not just a meme coin designed to farm liquidity. The RichQuack community is also a launchpad that provides funding and support for blockchain-based startups.
Due to its partnership with exchanges and other stakeholders in the crypto sector, RichQuack connects innovators and startups to business management. It also evaluates firms for investors and requires these companies to meet its checks before recommending them to investors.
The token had a rollercoaster month in august, with its price reaching one of its most recent highs. But it is already down by 19.3% in the last 30 days, and more recent price performances are also in red.
However, earlier adopters might have no reason to complain since it has been up 1,357% since last year.