Can Parody Coin (PARO) Follow the Footsteps of Ethereum (ETH) and Shiba Inu (SHIB)?

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After The U.S. Federal Reserve announced its decision to hike the benchmark interest rate by 75 basis points, marking the most significant increase since 1994, the bear market became a reality that we have to accept. This, in turn, led to high inflation that affected the consumer index, effectively leaving people with less money to purchase goods and services.

In the traditional economic theory, the decrease in the consumer index leaves the general population vulnerable amidst rising prices and increased unemployment rates. But does the same logic apply to the crypto world, especially the NFTs? Let's try to find it out.

Arguably, NFTs were never really connected to any external economic factors because of how their utility is envisioned. Unlike other cryptocurrencies backed by the dollar or linked to other altcoins in a broader sense, most NFTs exist and prevail because of the community around them. They say beauty is in the eyes of the beholder, and this principle is 100% applicable to NFTs.

However, recently, the industry entered a point of stagnation, failing to produce original content. Rest assured, all is not lost, and there are still projects that can make a real difference. One such is Parody Coin (PARO), which looks like the hottest project of the summer.

Forget about the copycats and poor artwork because this project provides the capacity to mint parodies of the most popular NFTs in the industry. Yes, you have heard correctly; whether it is your favourite BAYC, Pudgy Penguins or CryptoPunks, Parody Coin provides the mechanism to trade these NFT parodies and generate revenue.

The Parody Coin also plans to introduce