In 2009, the first-ever cryptocurrency, Bitcoin was created. Now, the market is saturated with various coins, tokens and memes battling it out to be the number one cryptocurrency in the game. One of such crypto’s is Shiba Inu, which is a meme cryptocurrency that was developed in August 2020. It is an ERC-20 token created on Ethereum by a developer(s) going under the pseudonym, Ryoshi. According to Shiba Inu’s website, the crypto is a decentralized meme token that is developing into a ‘vibrant ecosystem’.
They have self-proclaimed themselves as the ‘Dogecoin Killer’ and the token can be bought across several exchanges. The popularity of Shiba Inu has been progressively increasing, however, a new cryptocurrency has entered the game. HUH Token has clearly put a lot of effort into standing out in the crowded crypto community and they are in hot pursuit of Shiba Inu’s #1 spot.
What Is HUH Token And Where Did it Come From?
Whoever has created HUH Token has done a good job of preserving their anonymity. Although, they have suggested that they will reveal their identity soon enough.
The token uses blockchain technology to allow everyone to have a chance at earning unique rewards. The anonymous creators claim that they strive to ‘challenge the status quo and create a source of income for everyone’. This is a big claim, and it has made HUH token worth keeping an eye on.
HUH Token is a cryptocurrency that has an intelligent and easy to use referral system. In theory, this referral system could change how the whole game is played, and this is a big part of the threat to Shiba Inu. The HUH Token developers 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 fun doesn’t stop there, as you both receive a discount sales tax from 20% to 10%.
What Is Shiba Inu and Where Does It Come From?
The creators of Shiba Inu are anonymous and initially, it acted as a mascot for Doge. However, now it acts as its own token on the Ethereum blockchain. Shiba Inu has a staggering 1 quadrillion coins in circulation, all of which are similarly priced to Baby Doge. Shiba Inu is predicted to outperform other cryptocurrencies, such as Baby Doge due to it being based on the well-respected cryptocurrency, Ethereum. However, it is important to remember that not all that glitters is gold, and Shiba Inu can be a risky investment due to its frequent swings in price. The price can be affected by something as simple as a tweet, and Elon Musk is known for his influence in affecting pricing for cryptocurrencies. A notable example of his influence was when Elon Musk tweeted “My Shiba Inu will be named Floki,” and this tweet alone increased the Shiba Inu price up by 25%. This cryptocurrency is quirky and amusing, but investors ought to be careful with this crypto due to its unpredictable nature.
Can HUH Token Be A Real Threat To Shiba Inu?
HUH Token has figured out a way to make its token stand out and be relevant to today’s investors. After a rocky few years, investors are looking for stability rather than volatility, which is exactly what HUH Token provides. This may sound boring to some investors, but HUH Token has found a way to inject some excitement with its innovative referral system, which allows you to suggest an unlimited number of individuals and receive 10% of each referee’s initial purchase.
The purpose and motivation behind HUH Token is that everyone can invest in it. According to their Whitepaper the crypto will:
“Revolutionise this, in favour of the social investor, through smart contracts and a fair redistribution mechanism, one that will be easier for the average investor to understand and utilise.”
HUH Token is an exciting and fresh new addition to the market and wants to encourage people from all walks of life to invest in its cryptocurrency. As cryptocurrency is generating more and more interest, first-time buyers might be more inclined to choose HUH Token over Shiba Inu due to HUH Token being more accessible and welcoming to first-time buyers.
Watch This Space
HUH Token are very new to the crypto game, but if they can stick to their ambitious roadmap and achieve what they say they are going to achieve, then HUH Token could very well see itself at the top spot further down the line.