Dogecoin has been sitting comfortably for a while now, as its presence in the cryptocurrency world has been firmly solidified with the help of Elon Musk. The meme cryptocurrency was developed in 2013 by software engineers Billy Markus and Jackson Palmer, who decided to create Dogecoin as a joke. However, it surpassed all expectations and is now considered as a serious investment prospect. Ever since its initial success, many other crypto creators have tried to follow in their footsteps and popular examples include, Shibu Inu, Baby dodge and Safemoon. Each poses a threat in its own way, however, the latest threat to emerge is HUH Token.
HUH Token is a new cryptocurrency that is being coined as the ‘Dogecoin Destroyer’ due to its strong start and impressive potential.
A brief history of Dogecoin
On December 6th, 2013, Dogecoin officially went live, and it was an instant hit in the cryptocurrency community. After just two weeks, the price skyrocketed by 300% and the Dogecoin Reddit channel has an impressive 19,000 users. Fast forward to 2015 and the meme crypto coin is still going strong, however, the creators decided to step back from their cryptocurrency as they called the community “toxic” and “white male-dominated”. The creators felt that their parody project became a part of this toxic culture, but this did not stop the momentum of the coin. However, the pivotal moment for Dogecoin was when Elon Musk titled the cryptocurrency “The people’s crypto’. This led to a huge surge in price and since then Elon has continued to tweet about Dogecoin, heavily impacting its pricing.
A brief history of HUH token
HUH Token is anticipated to launch any day now and despite it being so new to the cryptocurrency world, it is expected to make a huge splash. So, why is there so much hype surrounding this new cryptocurrency? The first thing about HUH Token that is generating a lot of attention is its unique and easy to use referral system. The creators 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. If the person you refer goes on to refer someone else, you also get 2% of that person’s purchase. The rewards don’t stop there, as you both receive a discount sales tax from 20% to 10%.
The creators of HUH Token are doing well to maintain their anonymity, but their website suggests that they will reveal their identity in due course. The anonymous creators state that their mission is to ‘challenge the status quo and create a source of income for everyone’. So, anyone who wants to invest can do so.
Why is HUH Token a threat to Dogecoin?
There are several reasons why HUH Token is a threat to Dogecoin. Despite Dogecoins well-established reputation, the success of the coin is heavily reliant on the presence of celebrities such as Elon Musk. When you strip these influencers away, Dogecoin might struggle to keep its presence online.
Another reason why Dogecoin is in danger is that, to many people, it is regarded as ‘been and gone’. Trends come in and out all the time, and this is the same for the cryptocurrency world. People are craving new and more sophisticated options, and according to the HUH Token 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 utilize.”
The third reason why HUH Token may destroy Dogecoin is that they have managed to find a balance between stability and excitement. Dogecoin is too volatile and after the last few tumultuous years, people are seeking stability, not volatility. For the investors who are seeking excitement, they can still have this with HUH Token as their unique referral system adds an element of excitement as investors can refer an unlimited number of people and receive 10% of each referee’s first purchase.
The bottom line
There are several strengths to HUH Token and these strengths play on the weaknesses of Dogecoin. Whether HUH Token can live up to their newly found title as the ‘Dogecoin Destroyer’ will be very interesting, as many investors are likely to be watching their journey very closely.
Story by Steve Seo