Pitbull ($PIT) Explained: What is Pitbull Token and how to buy PIT coin (2023/2024 Edition)
BitKan explores a new coin that has a 100x potential: Introducing Pitbull Token (or $PIT)! What is PIT and How to buy PIT?
You may have heard of Dogecoin, Shiba Inu…and all other coins that have a 100x potential, but what about Pitbull Token (or $PIT)? In the crypto subspace of dog coins, Pitbull Token sits at a lovely spot.
Ever pulled up “pit coinmarketcap” or “pit coingecko”? In this series of BitKan Explore, we will explore BSC Pitbull ($PIT) and whether or not this can potentially fit into your cryptocurrency investment.
What Does Pitbull Token (PIT) do and offer?
If you like pitbull dogs, Pitbull token is the one for you. Describing itself as a “social experiment, wherein traders are consolidated into the project both from a developmental standpoint as well as the community”, the purpose of $PIT is to tokenize the Pitbull Token community, with many of the following utility features:
- PitSwap: the obvious choice to swap into Pitbull ($PIT) tokens, this is a cryptocurrency exchange that uses a decentralized network protocol in Binance Smart Chain (BSC)
- Pitbull Farm: Pitbull NFT Points farming and marketplace trading on Binance Smart Chain (BSC)
- Pit Lottery: where you can use your $PIT tokens to play lottery in the Pit Stop
- PitSafe: a comprehensive Binance Smart Chain (BSC) DeFi Asset Manager
- PitMag: one-of-a-kind information platform with the aim of informing about new milestones and news that impact the world and cryptocurrencies
As you can see, the above features are just some of the many features the Pitbull Community has graciously extended their expertise to grow the ecosystem. With such a wide range of products, it increases the utility for $PIT token and it confirms that a vibrant community will push the Pitbull Token to the next level.
Pitbull Coin ($PIT) Tokenomics and $PIT Burn Mechanism Explained
The Pitbull Token ($PIT) has a maximum and total supply of 100 quadrillion (i.e. 100,000,000,000,000,000 or 17 zeroes after the numeral 1). More than 50% of the entire supply is burned, resulting in about 40 quadrillion $PIT left as circulating supply.
Total Supply = 100 quadrillion
Circulating Supply = 40 quadrillion, because >50% of the total supply is burned
There is a 2% reflection which means that every time someone exchanges or swaps into $PIT tokens, any wallet address holder holding any amount of $PIT will get 2% of each transaction. This grants PIT investors continual rewards for holding and decreases the circulating supply exponentially as the percentage of the dead address holding grows.
Another 2% of each sell trade transaction automatically creates liquidity that is added to the liquidity pool and locked forever, forming an increasingly higher price floor for investors.
This is a fee-sharing system that $PIT token holders can stand to enjoy.
Stake PIT Pitbull Token Tokenomics
There are no current official methods of staking Pitbull Tokens due to the fee-sharing system. As long as you are holding $PIT coins whenever another individual buys or sells, you will be redistributed a small portion of the coins in the transaction.
Is Pitbull Token ($PIT) safe? Who created Pitbull Token ($PIT)?
Pitbull (PIT) is a self-staking token whose ownership was renounced and given to the community upon the token’s creation. Due to decentralization, the token is a 100% community-driven project.
Pitbull Token ($PIT) Price?
At the time of writing on 1 Nov 2022, the price of Pitbull Token is set at US$0.0000000005573. That’s 9 zeros at the front and 13 digits after the decimal point.
Its volume for the last 24 hours hovers around US$2,000,000 according to CoinMarketCap. It has a market cap of US$22 million, and its fully-diluted market cap is about US$55 million. Bear in mind that this is during a bear market: prices will change differently, especially when the market turns bull.
It is not unforeseeable that Pitbull Token ($PIT coin), with a current market cap of $55 million even when all the PIT tokens are out, could eventually catch SHIB ($5 billion) and DOGE ($7.5 billion), given how quickly things can catch on in crypto.
Flipping SHIB would see 90x returns and DOGE a whooping 136x.
Suppose you are planning on investing in Pitbull Token (PIT). In that case, you will be betting that community sentiment would drive up high enough to ensure that an economy of PIT enthusiasts can escalate the token into new highs. Looking at their roadmap, this premise seems promising.
Pitbull Token currently has increasing momentum and brand recognition in the space, which often counts for a lot, especially with meme coins. However, once that momentum is lost, it is difficult to regain, especially with large supply coins — DOGE and SHIB being prime examples.
How to buy Pitbull Token ($PIT)?
Pitbull ($PIT) exists in the Binance Smart Chain (BSC) network with the contract number 0xA57ac35CE91Ee92CaEfAA8dc04140C8e232c2E50.
Traditionally, you have to buy some Binance (BNB) coin (or any other coins that support the withdrawal via BSC!) on BitKan and withdraw them to your cold wallet via the BSC network. Once it is in your cold wallet, you can swap for PIT tokens on PancakeSwap.
But you can simply do everything with BitKan.
Pitbull ($PIT) token exists on BitKan!
You may also buy PIT tokens directly on BitKan as well. Sign up for an account via BitKan: https://bitkan.com/account/signup and put in some USDT or fiat money to get started!
You can find our guide on how to charge some money into your wallet over here, using BTC as an example of a coin you can buy from us: https://medium.com/bitkan-blog/completing-kyc-and-buying-bitcoin-guide-by-bitkan-crypto-exchange-3a532cbe5420.
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References
Pitbull Token Website — https://pitbull.community/
Pitbull Token Whitepaper — https://github.com/pitbullBSC/documents/blob/main/FINAL%20Pitbull%20Whitepaper%20English%20v.01.pdf
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