Shiba Inu (SHIB) has dropped even more this week after jumping more than 70,000 percent this year to a record high of $0.00008854 at the end of October 2021, making some people millionaires in a matter of months. However, the price of SHIB has dropped by more than 60% since then, indicating that traders are actively locking in their Shiba Inu profits. SHIB’s benchmark instrument, SHIB/USDT, has also seen a huge drop in volumes on Binance, indicating a lack of retail interest.
Since its crypto millionaire-making apex, Dogecoin has maintained its downward trend, plummeting over 50%. The market is struggling to find any fundamental or intrinsic value given by these coins, indicating that the canine coins’ great heights are now far behind them.
Luckily, a new meme currency is about to get into the ring, with superior fundamentals and practical features that could send it to being one of the world’s top ten cryptocurrencies. It’s called HUH Token, and it’ll be released on December 6th.
The Canine Cryptos’ Demise
SHIB’s estimated market value decreased from around $28.31 billion to $21.30 billion in just five days, beginning on Friday.
Google’s keyword search data also suggested waning interest in the “Shiba Inu” markets, with a one-year score of 20 declining from 100 to 20, nearly matching SHIB’s 60% price correction.
The most recent round of selling in the SHIB market pushed prices below a strong upward sloping support (the velvet trendline), implying that the market could lose additional ground.
Meanwhile, the price of Dogecoin (DOGE) continues to drop, probably due to global headwinds of investors flocking to safe havens like the yen and the greenback, leading to the price of Dogecoin (DOGE) falling. The DOGE price has been stuck in a downward spiral for much of November, which has accelerated in recent days.
Enter the HUH Token code
Although it appears like the moment to make millions on Shiba Inu and Dogecoin has passed, there is a new intriguing digital currency called HUH Token that has the potential to replicate their success.
The HUH Token will be available on the cryptocurrency exchanges PancakeSwap and Uniswap, while the token is currently available for purchase on their website during its presale.
Shellbox and Solidity Finance have audited HUH Token, with a Certik audit anticipated to be completed by the end of this week. Because these are well-known auditing agencies, holders can be confident that the HUH Token is legitimate.
The founders of HUH Token claim that when the token launches on December 6, $1 million in liquidity will be locked in for two years, helping to stabilize the token’s value over time and avoid the massive losses experienced by Dogecoin and Shiba Inu following their peaks, making this token even more appealing.
A referral scheme is also being launched by HUH Token, in which holders will receive a 10% commission on the initial investment of those they refer. You can refer as many people as you want, and the commission is paid out in Binance Coin (BNB) or Ethereum, depending on the exchange you pick (ETH).