Dogecoin prices have stalled since peaking above $ 0.70 in early May after the cryptocurrency market appeared to be recovering from China’s broad crackdown on Bitcoin mining operations in the country. Meanwhile, the new meme crypto HUH Token says its pre-sale token allocation is almost sold out. But which meme token is the better investment?
While Dogecoin remains a favorite among crypto gurus like Tesla founder Elon Musk, its popularity with crypto traders has declined since its meteoric rise earlier this year.
As the first meme cryptocurrency to be adopted by the mainstream, the appeal of Dogecoin has been dwarfed by new meme and altcoins that are flooding the crypto scene – with the Shiba Inu coin being known as the “Dogecoin killer” and proved to be an instant hit with dealers.
Similar to Bitcoin, Dogecoin is an open source cryptocurrency that can be traded and exchanged between users via decentralized peer-to-peer networks.
Dogecoin was created in 2013 as a satirical take on the flourishing popularity of more traditional coins like Bitcoin and their cult following.
However, the coin has closed a circle and, having gained worldwide popularity in recent years, is now being taken just as seriously as its crypto competitors.
The difference between this coin and Bitcoin, XRP or Ethereum is that it has spread like wildfire due to its meme origins and the support of Elon Musk.
The disrespectful tech billionaire spun the crypto market earlier this year when he announced that Tesla would suspend Bitcoin payments for its vehicles due to the currency’s significant environmental impact. He has often mocked Bitcoin online while praising Dogecoin and artificially inflating the price of the meme coin.
In addition, the founder of the US aerospace company SpaceX announced last year that it would launch the world’s first cryptocurrency-funded lunar mission called DOGE-1 with a Dogecoin-funded CubeSat.
DOGE-1 is a Dogecoin-funded satellite payload that SpaceX is developing in partnership with energy and space research company Geometric Energy Corporation, Unizen, and the decentralization incubator ZenX.
Dogecoin price has remained low since October when it peaked at $ 0.34, according to Coinbase.
This is a far cry from Dogecoin’s all-time high in early May, when the coin hit a high of $ 0.0722320 on May 8th due to its rapid surge.
New altcoin and meme coin competitors have repeatedly emerged to question the success of Dogecoin, with HUH Token being the new favorite for its design to add to scarcity through eager holding and tied liquidity.
HUH Token has announced that when it is launched on December 6th on the popular PancakeSwap and Uniswap exchanges, it will tie up liquidity worth $ 1 million.
HUH Token will also have a limited number of tokens, which means that the number of tokens in circulation will never increase. The creators say that the 1% of HUH tokens allocated for pre-sale are almost entirely sold out and thousands of holders have already invested.
To further improve investor sentiment, HUH Token is also introducing a recommendation system. Owners who refer others with a unique code will receive 10% of that new investor’s initial investment in Binance (BNB). In addition, this code can be used indefinitely, which means that owners can generate BNB with each new recommendation.
Dogecoin has already shown that buying early can bring huge benefits and HUH Token will try to replicate those amazing profits.
Follow HUH Token on their social networks before they start: