Akita Inu is another one of the canine-themed cryptocurrencies that seem to be all the rage at the moment. Similar to Shiba Inu and Floki Inu, these meme cryptocurrencies entered the market after being influenced by the original meme crypto Dogecoin. Akita Inu launched in February 2021, and according to CoinMarketCap, it is currently one of the top-performing cryptocurrencies. Akita Inu is riding on the success of other canine cryptos, but how long can Akita keep this up?
HUH Token is turning up the heat, and they have self-proclaimed itself as the first-ever ‘Utimeme’. You may not be familiar with this term, but essentially what it means is that HUH Token is a meme token with real-life utility purpose.
How is HUH token putting other cryptocurrencies under pressure?
The token uses blockchain technology to allow everyone to have a chance at earning unique rewards. The creators claim that they strive to ‘challenge the status quo and create a source of income for everyone’.
HUH Token is a cryptocurrency that has an intelligent and easy to use referral system. In theory, this referral system could change how the whole game is played, and this is a big part of the threat to Shiba Inu. The HUH Token developers state on their website that they have created a way for investors to earn extra income passively through a one-of-a-kind referral system. The idea is that if you refer someone, you then get 10% BNB from their first purchase. The fun doesn’t stop there, as you both receive a discount sales tax from 20% to 10%.
The goal for HUH Token is that anyone who wants to invest in its token can do so. According to their Whitepaper the cryptocurrency will:
“Revolutionize this, in favor of the social investor, through smart contracts and a fair redistribution mechanism, one that will be easier for the average investor to understand and utilise.”
The creators of HUH Token have figured out a way to make its token stand out and be relevant to today’s investors. After a rocky couple of years, investors are looking for stability rather than volatility, and this is what HUH Token believes they can provide to their investors. This may sound dull to some investors, but HUH Token has found a way to inject some excitement with its innovative referral system, which lets you refer an unlimited number of individuals and receive 10% of each referee’s initial purchase.
Is ‘Utimeme’ a new phenomenon?
‘Utimeme’ is indeed a new phenomenon! The word has been coined by the anonymous creators of HUH Token and they claim that no other cryptocurrency has been able to successfully combine both elements of meme and utility.
What is Akita Inu?
Akita Inu is a meme cryptocurrency that runs on Ethereum. Its Tokenomics are not that far off the Tokenomics that of Shiba Inu and states that it is a decentralized community. Interestingly, the Akita Network sent half of its tokens to Vitalik Buterin (founder of Ethereum) and the other half is with Uniswap. While Akita Inu is currently enjoying some steady success, the problem with meme tokens is that they have a high level of risk and not all investors can afford to take a chance with the volatile nature of meme tokens. If you are okay with elevated risk then Akita Inu is a perfectly viable option, however, not many people are comfortable with that level of risk.
Watch this space
As cryptocurrency continues to grow in popularity HUH Token is presenting itself as an attractive option. The crypto is a new and interesting addition to the market that aims to attract investors from all walks of life to engage in its cryptocurrency. Since HUH Token is arguably more accessible and friendly to first-time purchasers than Akita Inu, first-time buyers may be more motivated to choose HUH Token over Akita Inu.
Story by Steve Carty
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