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Traders are quickly rushing to the $CHMPZ token because they believe the incoming NFT Passports sale—combined with the ongoing staking ecosystem—will likely cause a supply shock for the wholesome memecoin.
The team recently announced that its NFT Passport sale will go live in the coming days. This will allow $CHMPZ holders to use their tokens to purchase the NFT. As a result, $CHMPZ will be burnt during the sale, driving down the total supply available for newcomers.
With a supply shock imminent, let’s examine whether $CHMPZ is a viable charity meme coin project worth the investment.
Chimpzee ($CHMPZ) Momentum Builds as Supply Shock Imminently Expected.
Chimpzee is quickly building momentum as its community grows excited about its incoming NFT Passport sale, allowing all holders to earn the maximum passive income through this charity-focused, wholesome token.
Chimpzee is a Web3 project that aims to demonstrate how Web3 technology can combine passive income with charitable contributions.
The project offers three routes to earning a passive income while raising funds for charitable organizations helping to save animals and protect the environment.
Through its fundraising period, the team has made a string of financial contributions to charities, helping to save animals, plant trees, and generally make a positive contribution to the world.
All $CHMPZ holders can be proud of the fact that their entrance into the ecosystem helped the following list of donations to occur;
- $15,000 to WILD Foundation to help rangers protect the last herd of desert-adapted elephants.
- $20,000 to WILD Foundation to help protect the final few black jaguars in the Brazilian Rainforest.
- Over 21,000 trees were planted through One Tree Planted in the South American Rainforest.
- A donation to Forgotten Animals to neuter 240 cats and 180 dogs in war-torn Ukraine.
- A donation to Rainforest Rescue to protect 1,000 meters of the Australian Rainforest.
- A donation to WeForest to plant 5,000 trees in Tanzania.
All these donations are fully verifiable through the project’s website, where they post social media verification of the contributions.
Chimpzee NFT Passport Sale and Staking Set to Create Supply Squeeze
Are you ready for the NFT Passports that are coming very soon!
APRIL 15TH – Whitelist event for people that participated in the presale only.
APRIL 16TH – Open to the public to mint and buy.Use our whitelist checker to make sure your wallet address is in the whitelist if you… pic.twitter.com/usZJjJDZh4
— Official Chimpzee Project (@RealChimpzee) April 2, 2024
Traders have been growing increasingly excited in recent weeks. They believe the incoming NFT Passport sale, combined with the ongoing staking system, will help create a supply squeeze on the open market, potentially driving prices much higher.
The NFT Passports provide the maximum income for holders. They provide some benefits on the following list:
- Higher $CHMPZ rewards and an exclusive discount in the Chimp Shop.
- An increased cut of the trading fees generated on the NFT Marketplace.
- A discount on the NFT Marketplace fees.
- Discounted advertising on the platform.
- Higher rewards in the Zero Tolerance play-to-earn game
- A staking reward for those staking the NFT Passport
- VIP access to events, airdrops, and special promotions in the ecosystem.
The NFT Passport sale will allow users to spend their $CHMPZ tokens to purchase NFTs across various tiers.
All $CHMPZ tokens used in the NFT sale will be permanently burnt, removing $CHMPZ from circulation and reducing the entire supply.
The team has stated that an enormous 5 billion $CHMPZ tokens—more than 50% of the circulating supply—could be burned during the NFT sale.
As a result, the team has stated that the total circulating supply could drop from 8 billion $CHMPZ tokens to as low as 3 billion $CHMPZ, provided that all the NFTs sell.
In addition to this NFT sale, traders realize that the ongoing staking ecosystem will contribute to the supply squeeze.
Currently, a total of 5.6 billion $CHMPZ tokens are being staked. With the supply set to drop and the staking figures expected to continue providing a 40% APY, traders believe the supply squeeze could result in a sudden 10x surge for $CHMPZ.
