Shiba Inu’s price has continued to decrease from its all-time high at the end of October, partly owing to Robinhood’s rejection of the meme coin, despite a massive appeal from the Shibe Inu tribe. However, the slowdown in enthusiasm for Shiba Inu could also be partly due to a new meme cryptocurrency, HUH Token, grabbing the show this week with its announcement that it will lock in a $1 million liquidation for two years when it starts on 6 December.
Without a doubt, the most recent setback for Shiba Inu has been the apparent lack of enthusiasm on the part of renowned cryptocurrency exchange Robinhood. Its canine counterpart Floki Inu’s community, dubbed the “Floki Vikings,” has amassed a massive petition calling for the token to be listed on Robinhood and another popular exchange, Coinbase.
Floki Inu’s liquidity would increase dramatically if one or both Coinbase and Robinhood listed it. These more established and larger platforms would significantly simplify trading.
Similarly, inclusion on these platforms communicates to the markets a good message regarding Floki Inu’s inherent value. However, this does not appear to be a likely occurrence.
In brief, Robinhood respectfully declined to list Shiba Inu following user petitions. COO Christine Brown stated emphatically that her organisation does not believe the risk-reward trade-off is worthwhile.
Brown stated in a YouTube interview, “We think that the short-term gain to us is not worth the long-term trade-off for our users. We want to make sure that we are working and assessing everything from a regulatory perspective”.
If Shiba Inu, with its notoriety and much more signatures, was unable to pull it off, Floki Inu’s chances appear slim, and the outlook for dog-themed coins appears to be deteriorating.
Robinhood and Coinbase are being scrutinized more closely by regulators as more traditional assets are being supplanted by cryptocurrencies. Management has little reason to support doubtful enterprises like Floki Inu and Shiba Inu.
This casts a negative light on their organisations and platforms in general. The implication is that Floki Inu and Shiba Inu cannot be willed into significance.
Platforms will gladly extend invitations to Floki Inu if it proves useful. That is not how the world works, despite “Floki Vikings’” strenuous efforts to will it onto larger platforms.
Another reason for the current lull in canine cryptos could be that a new meme cryptocurrency called HUH Token has stolen the show by announcing that it would launch with $1 million in liquidity on 6 December. HUH Token will be listed on PancakeSwap and Uniswap, with each exchange adding $500,000 in locked-in liquidity.
HUH Token, on the other hand, intends to be more than just another meme token, assertively addressing the faults of the majority of meme tokens. Due to its unique characteristics and emphasis on long-term growth through ardent holding and locked-in liquidity, HUH Token has been nicknamed a “Utimeme” by its designers, combining the words utility and meme.
Additionally, HUH Token will have a limited supply, which means that the total number of tokens in circulation will never increase. According to the founders, the 1% of HUH Tokens reserved for pre-sale have nearly sold out, with thousands of holders already investing.
Additionally, HUH Token is creating a referral programme to boost investor confidence. Holders who bring others onboard using a unique referral code will receive 10% of the new investor’s initial investment in Binance (BNB). Additionally, this code is perpetual, which means that holders can continue generating BNB with each new referral.
With HUH Token addressing the majority of Shiba Inu and Floki Inu’s shortcomings, only time will tell if this new crypto will be able to compete for the top spot on more significant exchanges. Nonetheless, this newcomer has a lot going for it.
Follow HUH Token on their Socials before they Launch:
Presale: https://huh.social/presale/
Telegram: https://t.me/HUHTOKEN
Website: https://huh.social
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
