Before 2011, Bitcoin was the only cryptocurrency that existed and had only achieved parity with the US dollar in February of that year. Since then, Bitcoin attained its highest value at $70,000 last year and as of November 2021, over 14,000 altcoins have been created to bank in on Bitcoin’s potential to turn people like you into millionaires overnight.
To overthrow the King of Crypto, altcoins began offering unique features to give them a competitive advantage over Bitcoin as well as ensuring their survival in the cut-throat crypto world. The most popular types of crypto among investors are meme coins – which start off as Internet memes but can soar to high market capitalisations – and utility coins – which begin by issuing tokens to fund the start-up but can later be used to purchase the issuer’s products or services.
Related article: How to Choose the Best Meme Coin Project to Invest In
Choosing which crypto to invest in is an art that not many go on to master. Decisions that aren’t influenced by careful consideration can result in vast financial losses while other investors enjoy fruitful gains. Most investors are stuck between the question of whether to invest in either meme coins like Dogecoin or utility tokens such as Cardano, as these have witnessed drastic profitability over past years.
The power of the Internet, particularly during the global digital transformation thanks to COVID, makes meme coins a valid form of cryptocurrency and therefore, deserving of investor attention. If meme coins come to be mentioned by celebrities or influencers, usually via social media, they can experience a spike in volatility and consequently, explosive growth. The case of Dogecoin is one of the most notable examples, in which the world’s richest man, Elon Musk, developed a soft spot for the meme coin. Musk’s tweets about Dogecoin have broken the Internet and sent its value flying by 10%, 11%, 20% and 40%, on several different occasions.
However, meme coins’ extreme volatility means that investors can only profit from the likes of Dogecoin and Shiba Inu if they withdraw during a narrow timeframe. If an investor experiences any hurdle meaning they can’t go online at the right time, they risk losing their investments. Furthermore, certain platforms such as Coinbase have previously locked users out of their accounts due to technical issues, which are liable to occur during these busy periods, and even in these cases investors don’t always get their funds back.
Also, read Final Chance For Shiba Inu and HUH Token
By contrast, utility tokens are developed with the intention to become recognised as a legitimate form of currency. Popular examples include Ethereum and Cardano. Additionally, they aim to make finance decentralised by taking control away from banks and governments, and dream of revolutionising finance by becoming a widely accepted form of payment. Square, Tesla and MicroStrategy’s involvement suggest that this isn’t unrealistic. With anyone able to buy tokens, liquidity can be increased by allocating rewards and fee discounts. But at the end of the day, utility tokens don’t secure investors a stake in the company.
HUH Token reap the benefits of both crypto while eliminating their weaknesses. As a ‘uti-meme’, HUH blends the meme coins’ market popularity with utility tokens’ functionality. Allegedly partnering with popular social media influencers, they’ve already gone viral since their December launch and boast over 15,000 holders and a 6000% price jump within a month. Amidst the top 20 of PancakeSwap, HUH are locking in $1 million worth of liquidity over 2 years to incentive long-term investing. Likewise, HUH’s unique referral system means that users can refer others and earn 10% commission on the new holder’s investment, paid in BNB. This function should grow their wallet over time, therefore the longer and more HUH tokens a holder retains, the more HUH they will receive. HUH promotes longer-term holding, in contrast to meme coins’ volatility, as evidenced by this novel method and the ‘Hold Until Gold’ credo. Finally, we might have the first crypto that dodges volatility while maintaining Internet fame.
Learn more about HUH Token here:
HUH Official Swap- https://swap.huh.social/