Memcoin Gigachad (GIGA): an overview of the most "masculine" cryptocurrency
What is Gigachad?
Gigachad, or GIGA, is a meme token issued on one of the most popular blockchain platforms, Solana, and released on exchanges in March 2024. GIGA is based on the Internet meme named "Gigachad," which made bodybuilder Ernest Halimov famous.
Even though the meme token is based on the "Gigachad" meme, Ernest Khalimov himself has nothing to do with the project. Gigachad was created by a community of enthusiasts with the aim, according to them, of uniting like-minded people.
However, according to some sources, the community has received partnership support from Khalimov, a well-known figure in the fitness world, Mike O'Hearn, and UFC fighter Paulo Costa.
As part of the Gigachad project, the community has implemented Giga Motion and Giga Fitness initiatives to motivate users to lead a healthy lifestyle. Giga Motion provides fitness challenges to improve physical fitness, while Giga Fitness allows users to purchase fitness products.
Market data of the Gigachad token
Although the token itself was placed back in April 2024, the phase of rapid growth began only in June, and in just one month, the price of GIGA increased almost 10 times — from $0.0016 to $0.015.
Despite the unfavorable news background in the summer of 2024, caused by the distribution of bitcoins between the affected investors of the bankrupt Mt. Gox exchange and cryptocurrency lender Genesis Global, as well as the sale of BTC by the German government, the Gigachad meme token continued to grow, reaching an all-time high (ATH) at $0.07 in early November. However, the token's price began to correct against the upward trend in the crypto market and fell to $0.039 by the end of November.
9.3 billion GIGA tokens were issued, and the maximum issue is 10 billion. As of November 2024, the capitalization of the Gigachad token exceeds $396 million.
Pros and cons of the Gigachad meme token
As with almost any memcoin, the purpose of Gigachad is to unite the community around a specific idea. In this case, that idea is the desire for self-improvement and discipline, which is reflected in the meme on which the project is based.
At the same time, the token is not used anywhere, and its practical value is zero. In this, GIGA is practically no different from most typical meme tokens.
Apart from the hype on the crypto market, there are no other explanations for the rapid growth of the token since the Gigachad project itself is not developing.
Summary
Despite the loud words of the team of creators about self-improvement, discipline, and "an ideal to which every man should strive," judging by the quality of the project, the developers are only exploiting a popular Internet meme - nothing more. Several signs indicate this:
- A poorly functioning website. Judging by its appearance, the site was made hastily: incorrectly made layout, there are several non-working links;
- Whitepaper and roadmap are missing. There is nothing on the site except a description and instructions on how to buy the GIGA token;
- The meme token is virtually absent from significant exchanges. Other than Kraken, there are no significant exchanges where the GIGA token is traded;
- Gigachad has its sportswear store where users can supposedly buy items with GIGA tokens, but as of November 2024, it is not operational and appears abandoned;
- Also, members of the Gigachad community are supposed to use GIGA tokens to participate in events and access exclusive content, but there is no such feature.
Nevertheless, the team is active on social media, and attention to the token continues growing amidst the hype around memcoins. On the other hand, nothing is known about the team's plans, and given the absence of any application options for GIGA, we can hardly say anything about the prospects of this meme token.