Meme coins, according to analysts, are good indicators of the crypto market. The growth of meme coins heralds an impending cryptocurrency bull run. With Dogecoin dropping out of the top 10 cryptocurrencies, the meme coin craze is anticipated to fade as the bull run continues.
Dogecoin and Shiba Inu have dropped out of the top 10 cryptocurrencies. Dogecoin and Shiba Inu, both dog-themed cryptocurrencies, had their market worth fall, pushing them out of the top 10 in recent weeks. While the popularity of DOGE and SHIB is fading fast whilst newcomer HUH Token is seeing triple-digit growth, with HUH Token placing in the top 20 of all traded cryptocurrencies on pancake swap.
HUH Token went live on Monday and had a 2,000% growth in just over 72 hours. This is due to the combination that HUH uses to combine social enthusiasm with clear pragmatism. The token claims to be a 'Utimeme' coin, not a meme coin. A combination of the bitcoin market's two dynamic qualities; utility and memetic capability.
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It states in its white paper that it does this via a one-of-a-kind referral system and aspirations for a social network. The referral is unique in that it allows holders to generate more money from another coin. To acquire the referral, first go to the HUH Token website and obtain a code; this code is then used by anybody who has never purchased HUH Tokens before. This purchase then rewards the code holder 10% of the purchase price. The individual referred also benefits as they get a reduction in their sales fee.
HUH Token already has 6500 holders, a market capitalisation of $120,000,000, and a 24-hour trading volume of $2.72 million.
Here is a comparison of how Shiba Inu did in it's first week in comparison to HUH Tokens first three days.
Comparison of how Shiba Inu did in it's first week in comparison to HUH Tokens first three days.(Source: https://www.coingecko.com/en/coins/shiba-inu)
HUH Token already has 6500 holders, a market worth of $120,000,000, and a 24-hour trading volume of $2.72 million.
Midday on the 8th, there was a tremendous selling point, but the decrease was absorbed in less than 24 hours, setting a new all-time high soon after. In the near future, there are plans for a large token burn of over a million dollars' worth of HUH Token, this will apparently be a regular occurrence. This increases the token's worth for everyone who currently holds it.
HUH Token already has 6500 holders, a market worth of $120,000,000, and a 24-hour trading volume of $2.72 million. HUH Token is currently traded on just one exchange, PancakeSwap V2, although the white paper claims that other exchanges are planned in the near future.
It seems that dog-themed cryptocurrencies are losing social dominance as focus shifts to new meme coins like HUH. However, some analysts have said that the Shiba Inu price trend will resume its ascent as it gets good momentum towards the end of the year. This is because the formation of a triple bottom indicates that the Dogecoin price will rebound and soar over $0.30. Most of the time, a triple bottom is followed by the asset's price breaking through resistance.
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