Shiba Inu has lost 25% of its value over the past two days, while Floki Inu has been steadily climbing, and the much anticipated HUH Token says it will launch on the 6th of December.
Shiba Inu’s price surged over 1000% at the end of last month but some investors were put off the meme crypto this week after it was discovered that ‘whale’ wallets control the majority of its existing tokens. According to CoinMarketCap, approximately 870,000 wallets hold Shiba Inu with the top ten owning almost 72% of the dog-themed coin.
The biggest wallet holds a massive 41% – worth over US$20bn at its peak and the owner purchased the SHIB on Uniswap about a year ago when the price was just a few cents.
Initially, Ethereum and Bitcoin were significantly influenced by whales, but their ownership concentration has since dissolved as more retail investors and institutions are entering the crypto market.
Shiba Inu’s market capitalisation plunged from US$51bn last week to US$28bn on Friday, according to CoinMarketCap.
Shiba Inu’s canine counterpart Floki Inu still seems to be gaining momentum after climbing over 200% this week.
But the worry of concentrated ownership may quell the Floki Inu excitement as one whale was spotted buying $3.5 million of the token, according to Binance Smart Chain (BSC). At the time of writing this, that one wallet contained over 12 billion FLOKI in total.
Looking at Floki Inu’s chart, it’s anyone’s guess where the crypto will go next as it hit a resistance level at $0.00034 but seems to be building support levels at $0.00028, according to CoinMarketCap:
Meanwhile, a new meme cryptocurrency called HUH Token is looking to grab hold of the crypto market with the same flair and community-driven inspiration as Shiba Inu and Floki Inu. HUH Token will be available from the 6th of December on PancakeSwap and Uniswap.
As of now HUH token has been put on the pre-sale stage. Coining the term “Utimeme” (combining the words utility and meme) for it, HUH Token’s creators say the crypto will be more than just a meme token. It will aim to provide real-world value by linking the distribution system to Binance.
Using a unique referral code, holders can refer friends and receive 10% of their initial investment as BNB.
News of the HUH Token launch is already creating waves, with the creators saying its pre-launch sales were so overwhelming that it caused a brief crash in its payment systems. The company has since partnered up with NOWPayments to ensure future transactions run securely and quickly.
HUH Token states its unique system will allow its users to earn through two streams of income. BNB and Token.
It is alleged that HUH Token has a legion of followers, a number in the thousands, all of whom are eagerly awaiting the release of the token onto the open market. At this present time, HUH Token is putting itself through numerous circuit audits to be sure to achieve no hiccups and a high level of service for its investors.
They say that community care is a big part of what they are about and ensure that the citizens of their HUH Nation always stand to benefit and receive a great service. A belief that runs strong with the unique system they offer.