Avalanche fights Dogecoin and Shiba Inu for top spot – Can HUH Token recreate its success?
This month, Avalanche’s Avax token has performed exceptionally well, fueled by development deals and general optimism about the network’s decentralised financial potential. It is now vying with Dogecoin for a place among the top ten most valuable cryptocurrencies.
HUH Token is hoping to replicate Avax’s success when it launches on the 6th of December. With the pre-sale ending in a few days, could this be the ideal time for them to invest in the next crypto millionaire-making machine?
According to Coinmarketcap, Avax has gained over 100% so far in November, bringing its total market capitalisation to around $29.8 billion, whereas Dogecoin has lost over 11% this month, bringing its total market capitalisation to around $29.5 billion.
Avax was released last year as part of Avalanche’s goal to expand the blockchain’s DeFi capabilities, including smart contracts and other applications to compete with the larger Ethereum network. Avax, like the rest of the crypto complex, has risen this year, but what gave it a boost was its partnership with “Big Four” accounting firm Deloitte.
Avalanche has increased by 37% in the last seven days, while the other top ten cryptocurrencies have decreased. Collaboration with Deloitte, one of the “Big Four” accounting firms and the world’s largest professional services network, was critical in AVAX’s rise to the top ten.
Last Tuesday, Ava Labs, the company behind Avalanche, announced the collaboration with Deloitte to help streamline reimbursement applications for victims of natural disasters.
According to Ava Labs, the new platform provides state and local governments with a decentralised, low-cost, and fully immutable system that empowers grant funders and aid recipients while leveraging blockchain’s transparency to reduce fraud, waste, and abuse.
Most major digital coins have been targeted this month as a result of factors such as the strengthening dollar, new evidence of China’s crackdown on the sector, and the possibility of increased taxes on cryptocurrencies as a result of the new US infrastructure bill.
However, one of the most important takeaways from Avax’s recent success is the importance of getting in on these opportunities early. If a holder had put $100 into Avax when it first launched, they would have made a whopping $26,000. With its pre-sale ending in just a few days, HUH Token could provide holders with an excellent opportunity to get in early.
HUH Token will be available on PancakeSwap and Uniswap. Additionally, in order to make the token more stable and appealing to holders, its creators have announced that $1 million in liquidity will be locked in for two years from its launch.
HUH Token is also launching a referral programme. Holders can refer other people using a unique code and get a 10% commission on that new holder’s initial investment, as Binance (BNB). Holders can earn BNB with each new referral.
HUH Token is also rumoured to have thousands of top social media influencers signed on to promote it, recognising the importance of how communities have driven the majority of the meme cryptocurrencies that have surged to the top of the crypto charts.
The founders of HUH Token appear adamant about replicating the phenomenal success of Dogecoin and Avalanche, with now being the best time to get in on this crypto from the ground up.
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