In the midst of the current combat among the leading crypto-canine tokens, Dogebonk (DOBO) has increased in value 21,000 times in less than a month. Its rising popularity is fuelled by an aggressive grass-roots advertising effort in which it promotes itself as a rival to the Shiba Inu madness.
In only a few weeks after the coin’s conception, the creators have spent tens of thousands of dollars bringing their fight against Shiba Inu to billboards in places like New York, London, Sydney, and Brisbane. Members of the Dogebonk group, known as the BonkSquad, have the Shib Army squarely in their sights. Dogebonk has passed audits from both Certik, and Solidity Finance, lending to it’s authenticity.
The Dogebonk marketing head dubbed the month-old cryptocurrency an anti-meme coin, it’s hatred of memes is ironic as it seems to be using the same means of transport to fuel it’s mission. It is creating a bubble of excitement or hype, which then drives prices. Other new cryptocurrencies like HUH Token are taking a more novel approach.
Shiba Inu’s cryptocurrency competitor has now piqued the interest of Arthur Hayes, who is the co-founder of BitMex, one of the world’s top cryptocurrency exchange and derivative trading platforms.
Meanwhile, the jockeying for position between Dogecoin and Shiba Inu continues unabated, with Shib now falling to in place by market capitalisation, while Dogecoin has reclaimed a place in the crypto-top 10.
The Ship Army likes to claim that its Shiba Inu coin will reach a value of $1. However, in terms of market capitalisation, Shiba Inu would need to expand in value fortyfold in order to meet this aim, not an impossible task six months ago, but today? Shiba Inu would require a capital flow that would grow its market cap to a level comparable to Ethereum’s, which is incredibly unlikely to occur due to there being no real practicality in the cryptocurrency. Even if enough money is temporarily put into the project to make the market value even higher than it is now, it will not be a viable platform or utility technology of any sort.
This is why many cryptocurrency experts believe Shiba Inu’s days of fast growth are coming to an end. It has been speculated that Shiba Inu going ten times higher from the point it is at would require holders within the cryptosphere to move their assets from much more successful and highly utilised projects that currently exist. Regardless of how volatile cryptocurrency can be, this would be utterly unfathomable.
There is an argument that it could simply be a store for value, but there is already the king of them all that is incredibly well established, Bitcoin, and there is no way that anything like a Shiba could ever come close.
In general, meme coins and meme coin disputes are not necessarily beneficial to the broader market since they do not provide genuine value in terms of usefulness or actual features that can be used to develop better use cases for crypto internationally, and as a result, they are all doomed to perish one day. A bubble set to burst.
Instead of attempting to slay memes, there is a better strategy, assimilation. The HUH Token is a self-proclaimed “Utimeme” that is planning on utilising the incredible potential of social propagation with the functionality of NFT platforms and a robust smart contract.
In addition to having a major social component, it also has an ingenious smart chain-based recommendation system. This permits the person who gets the HUH Token to recommend an indefinite number of persons who do not possess the HUH Token using a code issued at the time of purchase. This referral pays the referrer 10 percent of their first purchase from the new HUH Token holder. Depending on the exchange used for the transaction, this 10 percent is allocated as either Binance Coin or Ethereum. This is crucial because it allows coin holders to not only create passive income but also develops stability in their wallets by diversifying their assets across several cryptocurrencies. HUH Token also increases in the wallet over time, meaning that the more you retain, the more tokens you acquire.
In terms of cryptocurrency stability and security, the HUH Token has allocated an incredible $1,000,000 of liquidity that has been sealed in for at least two years. This liquidity is allocated evenly between the two exchanges where the token will be accessible, Uniswap and PancakeSwap.
This coin has also been audited by Shellbox and Solidity Finance, with the Certik audit anticipated to be completed by the end of this week. The white paper for HUH Token is set to be presented this week, which will aid in establishing the brands’ objectives and functionality. HUH Token is exiting its presale in a few days and has witnessed an astounding volume of deposits that are close to being completely allocated.