Meme coins, according to academics, are a good indicator of the cryptocurrency sector. The spread of meme currencies heralds the start of a cryptocurrency bull market. With Dogecoin from the top 10 cryptocurrencies, the meme currency mania is anticipated to fade as the bull run continues.
Dogecoin and Shiba Inu have been dropped off the list of the top 10 cryptocurrencies. Both Dogecoin and Shiba Inu, two puppy-themed cryptocurrencies, have had their market capitalisations fall in recent weeks, pushing them out of the top 10.
Elon Musk, on the other hand, said recently that he expects to allow Dogecoin to be used to purchase Tesla items, culminating in a more than 20% increase in the cryptocurrency’s price. While DOGE and SHIB are losing popularity, newcomer HUH Token is acquiring hundreds of new users, even ranking in the top 20 of all transacted cryptocurrencies on the Pancakeswap.
HUH Token went live on Monday and has experienced a 6000% rise in less than a week. This is due to HUH’s ability to effectively blend social enthusiasm with pragmatism. The coin claims to be a ‘Utimeme’ currency rather than just a meme coin. A mixture of the crypto market’s two dynamic characteristics: utility and memetic capability.
As stated in its white paper, it does this via a one-of-a-kind recommendation engine and its plans for a networking site. The referral is novel in that it allows holders to earn extra value by encouraging others to join. To get the referral, go to the HUH Token website and get a code; this code may then be used by anyone who has never purchased HUH Tokens before. The code giver earns 10% off the purchase price of the first purchase as a result of this transaction—furthermore, the individual gains since they get a reduction on their sales fee.
HUH Token presently has tens of thousands of holders and a daily trading volume of more than $1 million. A large token burn of a million dollars worth of HUH Token is scheduled weekly. This regular occurrence will increase the value of the Token for all current holders. This potential will only expand when MetHUH, their social network, launches with the goal of being the world’s premier media space in web3.0.
Dog-themed cryptocurrencies seem to be losing social status as focus shifts to rising meme coins like HUH. Other experts, however, predict that once the Shiba Inu market price picks up pace towards the end of the year, it will continue to rise. This is due to the fact that the occurrence of a triple bottom means that the price of Dogecoin will rebound and reach $0.30. A triple bottom is commonly followed by the price of the asset breaking through its resistance.
However, Elon Musk’s ability to produce price for Dogecoin cannot be questioned. HUH Token recognises this as well and is providing him with a percentage of their whole supply for philanthropic purposes if he merely decides to accept it and recognise HUH. This is an intriguing method that has the potential to make this token become viral.
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