After a rough time for much of 2011 and 2012, Dogecoin (DOGE) has been on quite a run as of late. In the last six months, as of April 4, the leading meme coin has increased in value by 47.73%. That upward trend has continued in recent times, with a 30.02% uptick in value in the last month and 30.63% jump in the last five days. Now, Dogecoin sits with a value of $0.097.
The meme coin, which ranks as the eight-most valuable cryptocurrency in the world, has Twitter and CEO Elon Musk to thank, as the frequent backer of Dogecoin changed the logo on Twitter’s website to a Shiba Inu dog, which is the logo of DOGE.
This big spike in price thanks to the virality of social media is something that other meme coins are going to enjoy in the near future, too. One of those is Love Hate Inu (LHINU), a new Vote-to-Earn meme coin that’s going to follow suit with Dogecoin’s big price spike.
Below is a deeper dive into Dogecoin’s recent 30% pump, why Love Hate Inu is poised for a similar pump, and why you need to hurry and buy $LHINU now while it’s still in presale stages.
Dogecoin Has Musk to Thank … Again
Elon Musk has long been a proponent of Dogecoin. He has touted the meme coin on Twitter plenty of times in the past, long before he actually bought the social media giant. Late last week, attorneys representing the billionaire appeared in court to ask a judge to toss out a 2022 lawsuit against him that claims he manipulated the price of Dogecoin by more than 36,000% when he tweeted about it.
Instead of backing down from his support in the wake of the lawsuit, Musk doubled down. On Monday, April 3, he changed the Twitter logo from the famous blue bird to a picture of a shiba inu dog, which is the logo for Dogecoin. He then shared a meme about that change to the 133.5 million people who are following him on Twitter.
In the days since that happened, Dogecoin jumped substantially in price, as investors believe strongly in Musk when he tweets his support for things.
The problem with this bump in value for Dogecoin, though, is it isn’t based on anything other than Musk’s tweets. In other words, there aren’t new metrics that show Dogecoin is going to perform better over the long run, or that it has increased its utility. Instead, it’s just the thoughts of one outspoken billionaire that caused the price to spike.
That’s a tenuous position to be in for investors, and it’s why many are looking for alternatives in the meme coin market, namely the new V2E project called Love Hate Inu.
Love Hate Inu Has Similar Virality
Love Hate Inu is expected to explode in value once it comes out of its presale stages due to the viral nature of the V2E meme coin. But, its virality isn’t due to the thoughts of just one very influential person. Instead, it’s due to the nature of how the platform is designed and how people are incentivized to share how much fun it is to participate.
Love Hate Inu is a new crypto project that will provide a safe space for people to share their thoughts and opinions on the leading topics of the day in politics, social issues and entertainment, among others. Each poll that is posted on the platform will have fun characters to go along with the different answers, which makes them more noticeable when people share their responses on social media channels.
And that’s expected to happen quite often. Since people spend so much time and effort sharing their passions online already, Love Hate Inu is tapping into something that people are already doing and want to do more of. This viral nature of Love Hate Inu, as well as the incentives that people have to participate, is what’s going to lead to its huge explosion in value.
Users Are Rewarded for Participating
With Love Hate Inu based on the blockchain, it’s providing a place where polls are transparent, safe, secure and protected from being manipulated. In addition, users must stake $LHINU tokens in order to participate in the polls. This again ensures that only people who are truly committed to the platform and participating take part – which adds to the legitimacy of the results.
Users are then incentivized to stake $LHINU tokens because they’re rewarded for doing so. The more they stake and the longer they stake them for, the more they can earn back in additional $LHINU tokens.
What’s more, there are plenty of opportunities for brands to host sponsored polls on the Love Hate Inu platform. They can even incentivize participation in those polls by offering NFT discount codes, for example, or specialized and unique digital assets on the metaverse.
All of this is to say that Love Hate Inu isn’t just a fun little polling platform to play on. It’s a legitimate place for people to share their opinions and for outside entities to gain feedback, which lends to the super utility of the $LHINU token that it’s all based on.
Buy Love Hate Inu Now As It’s Poised for Similar Pump to Dogecoin
Dogecoin has been enjoying a solid pump in recent times, thanks in large part to the actions of Elon Musk – yet again. While that is all fine and dandy, the meme coin’s pump isn’t tied to any true investment metrics, which makes it a very volatile investment, at best.
Many crypto traders looking for an alternative in the meme coin market are turning to Love Hate Inu, and for good reasons, as pointed out above. Now is the best time to buy $LHINU as it’s still in presale stages. With each new stage comes a price increase, and the next one will occur in about nine days.
So, hurry up and buy Love Hate Inu now so you can get in on the ground-level of this impressive new meme coin project.
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