Dogecoin prices have been stagnant since reaching a high of more than $0.70 in early May when the cryptocurrency market appeared to be recovering from China’s broad crackdown on Bitcoin mining operations in the country. Meanwhile, the pre-sale allocation for HUH Token has almost sold out. But which meme token is a better bet?
While Dogecoin is still popular among crypto experts such as Tesla founder Elon Musk, its popularity among crypto traders has dwindled since its meteoric rise at the start of the year.
Dogecoin’s appeal as the first meme cryptocurrency to achieve mainstream adoption has been overshadowed by new altcoins flooding the crypto scene, with Shiba Inu coin, dubbed the “Dogecoin killer,” proving an instant hit with traders.
Dogecoin, like Bitcoin, is an open-source cryptocurrency that can be traded and exchanged between users via decentralised peer-to-peer networks, with value tokens rewarded for users who act in the place of banks or governments to ensure the legitimacy of its transactions.
Dogecoin was created in 2013 as a satirical response to the burgeoning popularity of more traditional coins such as Bitcoin. Following its global popularity in recent years, the coin has come full circle, and it is now taken as seriously as its crypto competitors.
The difference between this coin and Bitcoin, XRP, or Ethereum is that it has spread as a result of its meme origins and Elon Musk’s endorsement.
When he announced earlier this year that Tesla would suspend Bitcoin payments for its vehicles due to the currency’s significant environmental impact, the tech billionaire sent the crypto market into a tailspin. He has frequently disregarded Bitcoin online while praising Dogecoin and inflating the price of the meme coin.
Furthermore, last year, the founder of US aerospace company SpaceX announced that he would launch the world’s first cryptocurrency-funded moon mission, dubbed DOGE-1, using a Dogecoin-funded CubeSat.
DOGE-1 is a Dogecoin-funded satellite payload that SpaceX is developing in collaboration with energy and space research development company Geometric Energy Corporation, Unizen, and decentralisation incubator ZenX.
According to Coinbase, the price of Dogecoin has remained low since October, when it peaked at $0.34.
This is a far cry from Dogecoin’s all-time high in early May, when the coin reached a high of $.0722320 on May 8 due to its rapid rise.
New altcoin and meme coin rivals have repeatedly emerged to challenge Dogecoin’s success, with HUH Token tipped as the new favourite due to its design to increase scarcity through avid holding and locked in liquidity.
HUH Token has announced that it will lock in $1 million in liquidity when it launches on popular exchanges PancakeSwap and Uniswap on December 6, with $500,000 locked in on each exchange for two years.
The HUH Token will also have a limited supply, which means that the number of tokens in circulation will never increase. According to the creators, the 1% of HUH Tokens allocated for pre-sale have almost completely sold out, with thousands of holders already investing.
To boost investor confidence even further, HUH Token is launching a referral programme. Holders who refer others using a special code will receive 10% of the new investor’s initial investment in Binance (BNB).
Furthermore, because this code can be used indefinitely, holders can continue to generate BNB with each new referral.
Dogecoin has already shown how investing early can reap huge rewards, and HUH Token appears poised to try to replicate those astounding gains.
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