While the crypto market is struggling to recover after China's FUD, some cryptocurrencies just don't care anymore. This is the case of ForeverFOMO, the new Binance Smart Chain token (BSC) "meant to reinvent the space."
ForeverFOMO token surged from its all-time low of $0.0000021 to its all-time high of $0.000043 in just less than 24 hours after being created. According to CoinMarketCap, the ForeverFOMO token is trading at $0.000043 with a 24-hour trading volume of $2,215,982, at press time. This means the token is up 416.55% in the last 24 hours.
In addition, ForeverFOMO describes itself as a price-elastic token with a balancing supply, moving towards the price of Bitcoin. According to the team, the project is different than just a normal pegged token or stable coin.
Furthermore, the project got few exciting things as the team says that every 4 hours there is a change in supply called a 'rebase'. Based on the website, the team mentioned that the rebase is automatically triggered by an online dashboard.
However, negative rebases are amplified to make ForeverFOMO return to the positive rebase area quicker. Beyond this, rebases are triggered 6 at least times a day, but for 360 Epochs, every 8 hours or 1 epoch.
Expanding further, the team said that its rebases make price-elastic tokens into synthetic assets with fluctuating values and supplies that stabilize. Even more, ForeverFOMO said that rebases are designed to be tradable and profitable.
ForeverFOMO aims to do a price rebase that will increase the price by 8%. Also, the project aims to get into the NFT marketplace within 30 days as well.