Place/Date: - March 2nd, 2022 at 10:43 am UTC · 4 min read
Source: HUH Token
A glance at any crypto market tracking platform will confirm that a new dog-themed meme coin has exploded. According to Coinmarketcap, SHIBA TRON (SHIBT) boomed by a whopping 2553% over the last couple of days, reaching its peak on February 26th around 10:45pm. The coin’s value rose from $0.0005662 to $0.01053, demonstrating its swift upsurge. SHIBT holders are now wondering whether Elon Musk will acknowledge the Dogecoin successor and send its value soaring even higher, so they can decide whether to hold or sell. However, meme coins are considered one of the most volatile investments on the crypto market, and since crypto is gaining increasing mainstream popularity, there has been preference for cryptos with more useability and long-term growth potential. First ever uti-meme HUH Token (HUH) took the market by storm following its launch, illustrated by its 6000% increase. Let’s figure out whether the new SHIBA TRON (SHIBT) is a worthwhile investment by looking at its underlying technology and roadmap, or whether you should be sticking with HUH.
SHIBT had a total quantity of ten billion coins, four billion of which had previously been burned. However, its tokenomics are intriguing, as SHIBA TRON (SHIBT) implements the newest reflection technology, in which all holders benefit from a 10% fee, which helps to counteract losses experienced with transfer fees.
It’s worth noting that the tax is transferred to investors “proportionally to their holdings,” meaning that those with the most SHIBT tokens stand to benefit the most. After the market cap reaches $500 billion, there are plans to construct a SHIBA TRON (SHIBT) religion, putting SHIBT between Ethereum (ETH) and Bitcoin (BTC) in terms of market cap. If that doesn’t happen, the team will settle for carving a SHIBA TRON (SHIBT) on a mountain with a market cap of $100 billion. It’s easy to see why investors would be apprehensive.
Aside from that, SHIBA TRON (SHIBT) boasts having an entirely community-driven coin. It points to its Renounced Contract Ownership as evidence it’s not controlled by a monopoly. Additionally, its launch system is apparently designed to avoid whales and bots. SHIBA TRON (SHIBT) wants to be as fair as possible, and therefore decided to airdrop the community with 1% of the supply. Unclaimed tokens were destroyed.
SHIBA TRON (SHIBT) employs a deflationary mechanism whereby all burned tokens were delivered to an inaccessible burn wallet that is deemed a top holder, which implies that this dead wallet receives proportional transaction rewards as well. Every transaction causes the burn, which accelerates as the wallet grows larger.
Although SHIBA TRON (SHIBT) has implemented some new features that older meme coins lack, it still doesn’t have clear objectives and goals the way utility tokens and stablecoins do. While the meme coin has made some of its early believers rich overnight, it’s difficult to predict how long it will last, and whether it could go higher in the future.
On the other hand, uti-meme HUH Token (HUH) is a hybrid between a utility token and meme coin. HUH utilises the hype, social media buzz and community feel prevalent with meme coins, and then combines it with the real-world value and useability granted by utility tokens. The ultimate goal of HUH Token (HUH) is to construct a decentralised metaverse, the MetHUH, where everybody gains from the data they generate. Hundreds of social media influencers began promoting HUH several weeks ago as the platform will open up numerous commercial opportunities and the ability to monetize their content via NFTs.
Users will also get the chance to profit from the MetHUH simply by watching influencers’ content. This will be facilitated via a process called sentiment analysis, in which sentiment tokens are issued for consuming content and reacting to it. They can then be converted into HUH. The uti-meme issues a variety of other rewards, such as earning on reflection, fee reductions for referring friends and presale benefits.