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Cryptocurrency investors who bought Beercoin (BEER) and Water (WATER) tokens have been punished in the past few weeks as their prices dropped. BEER token has plunged by almost 100%, bringing its market cap from over $400 million in May to $24 million today. 

Similarly, Water token has dropped by over 70% from its highest level this year. Now, crypto traders will be focusing on Tequila (JULIO), a new token that aims to be the biggest drink-themed meme coin in the industry.

Beercoin vs Water tokens

Meme coins have become the best performers in the crypto industry this year. While Bitcoin and Ether have risen by double-digits, leading meme coins like Pepe and Dogwifhat have all soared by triple digits.

Notably, the best-performing meme coins are the relatively new ones. Older tokens like Dogecoin, Shiba Inu, and Baby Dogecoin have all struggled and experienced low volumes and volatility. 

Tequila aims to be the next big meme coin when it launches this week. The developers have selected Solana as their blockchain of choice because of its faster speeds and low transaction costs. 

There are also signs that most crypto investors prefer Solana meme coins instead of those on Ethereum and other chains. Some of the top Solana meme coins are the likes of Book of Meme (BOME) and Dogwifhat (WIF).

Tequila is based on the popular Mexican drink that is sold globally, generating over $32 billion each year. Some of the most popular tequila brands are Jose Cuervo, Patron, 1800, and Hornitos. 

The creators hope that this popularity will help to propel the JULIO token up the highly competitive crypto ladder. 

The Tequila token aims to succeed by ensuring an open process and genius marketing strategies that will help it become popular.

For example, instead of a token sale, the developers will offer a fair sale that will see 90% of all tokens going public on the first day. The remaining 10% of the tokens will be reserved for marketing and development.

After the fair launch, the next stage will be its distillation, which will involve listings on top centralised exchanges. The aging stage will involve listings on tier-1 exchanges and hosting of tequila-themed parties. 

The bottling process will move the JULIO from just a mere meme coin to one with a utility. For example, the developers will launch the JULIO layer 3 network and the creation of Julio spirit with payments made exclusively in the JULIO token. You can learn more about the Julio token here.

The post Traders eye Tequila token as the Beercoin and Water prices fall appeared first on Invezz

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