Dogecoin and Shiba Inu drop out of top 10 cryptocurrencies

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Published: Thu 16 Dec 2021, 4:55 PM

Analysts see meme coins as indications of the crypto market. A meme coin’s rise foreshadows an oncoming cryptocurrency bull run. With Dogecoin sliding out of the top ten cryptocurrencies, the meme coin fever is expected to wane, amid the continuing bull run.

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Dogecoin and Shiba Inu are no longer among the top ten cryptocurrencies. Dog-themed cryptocurrencies Dogecoin and Shiba Inu had their market valuation decline, dropping them out of the top ten cryptocurrencies. While the popularity of DOGE and SHIB is declining, HUH Token is achieving triple-digit growth, ranking in the top 20 of all traded cryptocurrencies on pancake swap.

HUH Token went live on Monday and had a 1,000 per cent growth in less than 48 hours. This is because HUH is a combination of social excitement and straightforward practicality. The token purports to be a 'Utimeme' coin, rather than a meme coin.

A combination of the two dynamic features of the bitcoin market, it claims in its white paper that it does this via a unique referral system and ambitions for a social network. The referral is unusual in that it permits holders to create additional money from a different coin.

To get the referral, you must first visit the HUH Token website and obtain a code; this code is then utilised by anybody who has never bought HUH Tokens before. This purchase then pays the code bearer with 10 per cent of the purchase price. Here is a comparison of two charts: the first from coingeko shows the first 48 hours of Shiba Inu, while the second from poocoin shows little over the first 48 hours of HUH Token.

There was a massive sale at 4pm on the 8th, but the drop was absorbed in less than 48 hours, with an over 90 per cent surge, nearly hitting a new all-time high. There are also plans for a big token burn of over a million dollars' worth of HUH Token in the near future. This raises the value of the token for everyone who presently owns it.

The 24-hour volume for HUH is $1.19 million. It has a market cap rank of 2748. HUH Token is traded on only one exchange at the moment, PancakeSwap V2, while the white paper states that there are plans for more exchanges in the near future.

It seems that the dog-themed cryptocurrencies are losing their social supremacy, as the attention moves to new meme coins like HUH. Some experts have assessed the Shiba Inu price movement, and forecast that the meme coin will restart its climb, as it gathers positive momentum towards the end of this year. This is because as it starts to create a triple bottom, it shows that the Dogecoin price is projected to recover and rise above $0.30. In most cases, a triple bottom is usually followed by the asset's price breaking through resistance.

Buy on PancakeSwap.

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