My RatCoin price Prediction: This altcoin has an effective value of $0. The overall lack of market interest, very low trading volume, unmet project goals and lack of transparency make this altcoin an unattractive wealth building prospect.
What is RatCoin?
RatCoin (RAT) is an independent cryptocurrency coin. Launched in November of 2018 RatCoin is a true cryptocurrency with its own blockchain built on an open source script algorithm. The primary purpose of RatCoin and the community built around it (The Ratcoin Network) is two fold. First, to deploy fun and ongoing projects that differentiate RatCoin from the many other crypto coins on the market and second, to provide a platform for future utility projects.
Market Facts About RatCoin
RAT is a very thinly traded coin. As of the time of this writing, the price of one RatCoin is $0.000022. Ratcoin is listed on 3 exchanges and has 13 active markets. The volume of RatCoin traded in the last 24 hours is a very modest $115.69, and the market cap for RatCoin is currently $148,470 with average daily volume fluctuating between $47 and $114. There are a total of 9,000,000,000 coins available for circulation.
Here is RatCoin’s price movement for the last year.
Overall levels of trading volume are flat, marked by occasional spurts of activity.
Ratcoin has an amusing logo and a well constructed website (Ratcoin.network).
RatCoin has a number of substantial disadvantages. These are:
1. Ratcoin is a very thinly traded cryptocurrency.
Thinly traded means there is less buying and selling activity and more price volatility. As a result, Ratcoin carries more risk than other more established cryptocurrencies.
2. Ratcoin has little user adoption.
Their subreddit has approximately zero followers, their official Twitter account has 3,206 followers. Their Facebook page has 1,423 followers and their Instagram account has 1,176 followers. None of their social media accounts suggest mass adoption on the scale of Ripple, DogeCoin or Algorand.
3. RatCoins ultimate objective appears unmet.
Per their quarterly report their objective is “deploy fun and ongoing projects to provide solid utility purposes for this crypto“. Among these stated purposes are use of RAT to mint non-fungible tokens (NFTs) as well as provide a platform for unspecified future utility projects. However there appears to be little available evidence for any completed utility projects. A search engine query using the terms “RatCoin utility projects” yields no descriptions of completed utility projects. Ultimately, a currency is only useful if people use it as medium of exchange to conduct economic activity, right now no meaningful economic activity appears to be conducted with the coin.
4. Lack of market interest.
The RatCoin project was launched on November 10th, 2018. Over three and a half years ago. If the coin had naturally served a robust economic purpose, it would likely have seen broader market adoption by now.
5. Lack of transparency.
RatCoin demonstrates a lack of transparency in the development and social media admin teams. According to the RatCoin 2022 Q1 annual report (here), the leadership and development teams are identified only by quasi anonymous handles. In contrast, the founders and development teams of major cryptocurrencies like Algorand are fully transparent. While transparency isn’t necessarily a problem in the cryptospace, its lack does represents a trust barrier that may keep investors and interested projects from joining.
My RatCoin Price Prediction
Based on these factors, my RatCoin price prediction is: the coin is worth $0. RatCoin is effectively worthless.
Until market adoption increases substantially and RatCoin begins to be utilized for meaningful economic activity, the coin is not a serious wealth building proposition. The additional fact that RatCoin is very thinly traded means RAT is practically worthless. Like physical objects, digital objects do not have economic value if they can’t be exchanged between willing buyers and sellers for a mutually agreeable price.
Where Can I Buy RatCoin?
Have you invested in RatCoin? Are you thinking about investing in RatCoin? Leave a comment below and share your experience!