What is XI JINPOOH? Will This Asian Meme Coin Explode?
XI JINPOOH ($JINPOOH) is a new meme token surging among the Chinese community. The symbol of the coin is a hybrid of the famous cartoon character Winnie the Pooh and Chinese President Xi Jinping.
Now let’s have a closer look at what XI JINPOOH exactly is .
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XI JINPOOH Breaks Out – Can China Kick Start the Next Crypto Bull Run?
Despite the fluctuating prices in the crypto market, alternative tokens are cropping up that are generating enormous gains for investors. XI JINPOOH ($JINPOOH), a new meme coin from China, is gaining momentum.
Experts believe that the strong performance of Asian meme tokens may reflect an upcoming shift in China’s policy towards crypto.
Let’s take a look at what’s behind the rise of Asian meme coins.
Chinese meme tokens are surging, clearly highlighting the high demand for crypto and Web3 in China. The XI JINPOOH ($JINPOOH) token is receiving enormous interest from the global crypto community. The token has already surpassed the $2 million total market capitalization and is currently trading at $0.0002995.
The XI JINPOOH token is creating a strong buzz in the crypto market. The ERC-20 token has been created as a satire on the Chinese President Xi Jinping. It also serves to lobby against China’s decision to ban cryptocurrencies in 2021. Therefore, despite being a Chinese meme token, XI JINPOOH cannot be traded in China.
Dissidents of China’s president often make fun of his likeness to the fictional cartoon character Winnie the Pooh. Experts believe that Xi Jinping is extremely sensitive to this comparison and has banned several films and other artwork related to the beloved character. This did not stop the developers of the $JINPOOH token.
It is believed that XI JINPOOH represents more than just a simple token – the project is a symbol of resistance to censorship in the cryptocurrency world, embodying the power of freedom and expression.
The developers are marketing aggressively, especially in China, to make the coin more popular there.
Furthermore, the token has earned a perfect reliability and confidence score from Dextools and is among one of its top trending tokens. It is also one of the hottest trending coins on CoinMarketCap.
China has had a tricky relationship with the crypto ecosystem. After banning crypto trading in 2021, it has often flirted with the idea of incorporating Web 3.0 technology in its infrastructure. Nevertheless, crypto investing remains sidelined.
However, experts are pointing out that there may be a shift in China’s attitude towards the market. Recently, Hong Kong legalised crypto trading on a set number of crypto exchanges.
Binance founder Changpeng “CZ” Zhou also believes that the cultural stance towards the industry is shifting. He reveals that China could very well kickstart the next crypto bull run.
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The Chinese are Enthusiastic about Cryptocurrency – Even If the Government Doesn’t Like It
As you may know, many Chinese are still trading cryptocurrencies even with the ban. For years, China has been one of the most popular markets for cryptocurrencies.
However, the Supreme Court did not overturn the ban on crypto, but rather ruled that cryptocurrency cannot be used as real money and can only be used as a virtual asset.
According to some researches, every month about $17 billion worth of cryptocurrency is traded in China.
This is evidenced, for example, by the FTX debtors list and other investigations into different crypto companies.
XI JINPOOH wants to follow this trend and recapture the crypto market in Chinese.
Backed by the JINPOOH community, anticipated milestones, and a vision for a brighter future in China, XI JINPOOH is expected to play an important role in the crypto world. Investors may benefit from this.
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