Dogebonk (DOBO) has surged in value in less than a month amid the present battle of the major crypto-canine coins. Its growing popularity is being fueled by an intensive grass-roots advertising campaign in which it positions itself as a competitor to the Shiba Inu craze.
Within a few weeks of the coin’s development, the inventors had spent tens of thousands of dollars advertising their campaign against Shiba Inu on billboards in New York, London, Sydney, and Brisbane.
The Dogebonk group’s members, dubbed the BonkSquad, have their eyes set firmly on the Shib Army. Dogebonk has passed both Certik, and Solidity Finance audits, attesting to its legitimacy. The Dogebonk marketing director labelled the month-old cryptocurrency an anti-meme coin, which is amusing given that it seems to be fueling its purpose with social propagation. It does this by inflating an atmosphere of excitement or hype, which subsequently pushes prices. Other emerging cryptocurrencies, like HUH Token, take a more functional approach.
Arthur Hayes, the co-founder of BitMex, one of the world’s largest cryptocurrency exchanges and derivative trading platforms, has shown interest in Shiba Inu’s cryptocurrency rival. Meanwhile, the dogfight between Dogecoin and Shiba Inu continues unabated, with Shib plummeting to third place in terms of market value, while Dogecoin has recaptured a spot in the crypto-top ten.
The Ship Army often asserts that their Shiba Inu coin will eventually reach a value of one dollar. However, Shiba Inu’s market capitalisation would have to increase fortyfold to achieve this goal, which was not implausible six months ago, but today?
Shiba Inu would need money enough to expand its market value to a level equivalent to Ethereum’s, which is very improbable given the cryptocurrency’s lack of use. Even if sufficient funds are temporarily invested in the project to increase its market worth over its current level, it will remain an unviable platform or utility technology of any kind.
This is why many cryptocurrency analysts feel Shiba Inu’s rapid boom phase is coming to a close. It has been hypothesised that doubling the value of Shiba Inu from its present level would require holders inside the crypto sphere to shift their funds away from far more successful and widely used projects already in existence. This would be just inconceivable, regardless of how volatile cryptocurrency might be.
One may argue that it is merely a store of wealth, but there is already the king of them all, Bitcoin and, more recently OlympusDAO, which are quite well established, and nothing like a Shiba could ever come close. By and large, meme coins and meme coin conflicts are not always advantageous to the larger market since they lack true use or actual characteristics that may be leveraged to generate more international use cases for crypto, and as a consequence, they are all condemned to expire one day. A bubble that is set to explode.
The HUH Token is an “Utimeme” that intends to use the immense potential of social influence via the use of an NFT platform and a smart contract with a built-in referral system, along with an interesting social drive.
The referral mechanic built into the smart contract allows the purchaser of HUH Tokens to suggest an unlimited number of individuals. The individuals who do not yet hold the HUH Token can then use a code that then gifts the referrer a reward of 10% of the new HUH Token holder’s first purchase.
This 10% is assigned as either BNB or another cryptocurrency depending on the exchange. This is critical because it enables those who have HUH Tokens to generate another income while also increasing wallet strength by diversifying their holdings across many cryptocurrencies.
In terms of cryptocurrency security, the HUH Token has locked in $1,000,000 of liquidity for two years into its launch. This liquidity is shared between the two exchanges that the cryptocurrency going to support: Uniswap and PancakeSwap.
This week, the HUH Token white paper will be announced, which will reveal its tokenomics and future plans. The HUH Token presale is ending on coming Monday. The figures suggest that the coin has seen deposits close to being fully distributed. This could be the next meme coin to go to the moon.
Social media handles of HUH Token before they Launch: