As cryptocurrencies continue to struggle, investors are looking for any sign of hope in the market. Fledgling tokens gaining traction quickly make headlines. In the case of Rocket Bunny, investors made waves after they invested in the token to find their wallets worth trillions of dollars.
After Rocket Bunny has made headlines, investors want to know how they can jump on board. Here’s how Rocket Bunny works, how to buy it, and whether you should.
What is Rocket Bunny?
Rocket Bunny is a deflationary token with a maximum circulating supply of 777 quadrillion. Each transaction incurs a 4 percent tax that's distributed in four equal parts—1 percent to holders, 1 percent burned to The Rabbit's Hole, 1 percent locked liquidity, and 1 percent as a bonus to liquidity providers. As the volume increases, the amount burned increases logarithmically, which eventually leads to an exponential decrease in supply.
Each transaction automatically rewards holders and increases the token's price floor through liquidity locks—all without staking.
How to buy Rocket Bunny
Rocket Bunny isn’t available on Coinbase. However, there's a simple way to purchase Rocket Bunny. If you have a Coinbase or Binance exchange account, you can buy Ethereum or Bitcoin on either exchange.
Then, you’ll need to head over to Uniswap and convert your Ethereum or Bitcoin in Rocket Bunny.
Where is Rocket Bunny heading?
Whether you should invest in Rocket Bunny or not is entirely up to you. Any cryptocurrency, regardless of the current momentum, is extremely volatile. That being said, trends and hype can be used to make a somewhat educated decision before purchasing Rocket Bunny.
Rocket Bunny’s market cap and coin supply details are hidden. However, investors can use the basic token information to narrow in on its future potential. Rocket Bunny has seen both increased and decreased price value in the last seven days, but analysts predict that the token will spike up in the upcoming week. Some are predicting a jump of over 30 percent.
Rocket Bunny’s recent performance seems to support this estimate. In April, May, and June 2021, it experienced 40.22 percent, 55.82 percent, and 40.98 percent changes, respectively. With the cool down experienced across all cryptocurrencies recently, slightly lower growth isn’t too uncommon.
Back to the trillionaire Rocket Bunny investor
Last week, a Georgia nursing school student woke to find his $20 Rocket Bunny investment ballooned to $175 trillion. Virtually unable to convert the holdings into fiat currency, the student had to contact Coinbase to sort out the chaos.
Likely a technical glitch, Coinbase has frozen the investor’s wallet until they sort out the confusion. So, while Rocket Bunny has seen growth recently that has outpaced most of the crypto market, returns like that aren't likely.
Until then, the investor is continuing to have fun with it by tweeting his plans for the astronomical account balance.