With a plethora of cryptocurrencies now saturating the market, it’s hard to know where the next big crypto trend will come from. One crypto that is trying to cut through the noise and create “real-world value” – it’s called HUH Token.
Currently, in its pre-sale stage, HUH Token is set to announce its launch date today.
HUH Token’s creators say the crypto will be more than just a meme token and aims to provide real-world value by linking the distribution system to Binance. Using a unique referral code, holders can refer friends and receive 10% of their initial investment as BNB.
This “real-world connection” has certainly been enticing investors already with the company saying its pre-launch sales were so overwhelming that it caused a brief crash in its payment systems. The company has since partnered up with “Now Payments” to ensure future transactions run smoothly.
Doge and Shiba Inu have seen a dramatic increase in value since their launch. Small investments of $1000 would have grown into millions of dollars.
After starting as a joke relating to the world’s richest man, Elon Musk, the two coins have made it into the list of the most valuable digital assets.
As of Thursday, Dogecoin now has a market cap of over $33 billion after launching at the end of 2013 and its prodogy Shiba Inu now has a market cap of $29 billion since its launch in August 2020, according to CoinMarketCap.
The three reasons leading to Shiba Inu’s recent success are that more cryptocurrency exchanges are allowing SHIB to trade on their platforms. More accessibility means improved liquidity, increased brand recognition, and a growing community.
The second reason was the launch of decentralized exchange ShibaSwap in July 2021 which would have encouraged some investors.
Finally, the third reason is that Elon Musk tweeted a picture of his Shiba Inu dog immediately causing an increase in the meme coins.
Yet, despite these life-altering gains, Shiba Inu doesn’t do anything particularly different to most cryptos.
Good cryptocurrencies should offer financial and nonfinancial transactions faster and cheaper than existing infrastructure and should democratize the process so everyone can participate. While Shiba Inu may have the latter, it’s not a standout payment coin as only around 100 merchants accept it globally. In the long term, Shiba Inu has nothing separating it from any other crypto.
Contrast these facts with the unique offering of HUH Token’s Binance offering, and we may be looking at a serious contender.
