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Dogecoin (DOGE) Rises After Musk Tweet and HUH Token (HUH) Goes Up Despite Presale Issues


Dogecoin (DOGE), alongside maybe Shiba Inu (SHIB), is perhaps the most famous of the meme coins. DOGE started as a joke currency all the way back in 2013 as a satirical mockery of Bitcoin and other cryptocurrencies. It came to prominence in 2021, reaching an all-time high of $0.7376 in May of 2021. 

Dogecoin spurred a whole host of meme coins, including the aforementioned SHIB, as well as other canine cryptocurrencies such as Floki Inu (FLOKI), Dogelon Mars (ELON), and Baby Dogecoin (BABYDOGE). The HUH token (HUH), which launched on the 6th of December 2021, could be labelled a meme coin by cynics. However, HUH is the first “utimeme” coin; combining the mainstream popularity of meme coins with the real-world application of utility coins. 

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Elon Musk Tweets about DOGE (Again)

On the 14th of December 2021, Elon Musk, founder and CEO of Tesla, tweeted “Tesla will make some merch buyable with Doge & see how it goes.” Musk has been entwined with the success (and failures) of DOGE in 2021. Every time he mentions it in interviews, on social media, or says his company will accept payments in Dogecoin, the price increases. December the 14th was no exception. There was a surge of up to 25% in the hours after Musk tweeted. It has settled since but is still up having been trending downwards for much of November. 

The association with Elon Musk clearly has its upsides. However, it is not all positive. The problem with having the value of a coin intrinsically linked with one person (and their Twitter account) is that it may easily be manipulated. Musk is notoriously comedic and mischievous and as such, can wipe or add serious amounts from or to the value of Dogecoin at his leisure. Many people are heavily invested in DOGE. These investors may potentially be unaware of the inherent risks involved in cryptocurrency, and meme coins in particular.  

HUH Token (HUH) is Listed Despite Presale Issues

HUH launched on the 6th December 2021. The presale offer prior to the launch was very attractive. It offered a 25% bonus of HUH tokens on top of any initial purchase, as well as airdropping bonus tokens throughout the launch. HUH’s aim was to be less volatile than meme coins, whilst using the power of meme coins to boost it and the appeal of its utility. With its unique referral system, which offers 10% of any new holder’s purchase (paid in BNB) to the investor that referred them, it seeks to stand apart from all other meme coins. 

Unsurprisingly, such an enticing presale offer was quickly jumped on, and before the end of the presale period, there were around 3000 HUH holders. Since launching though, some of the presale holders are yet to receive their tokens. The HUH Token community have shared their frustrations on Twitter, with some replying to every tweet from HUH demanding information as to the whereabouts of their bonuses which are yet to arrive. 

The first 10 days of the HUH token have seen huge growth, with an increase of over 4000% from its initial price at its current ATH. It has also been adopted by some of the major listing platforms including CoinGecko, CoinMarketCap, and DexTools. This has seen another 66% rise in under 24 hours, despite some of the issues in the background. The problem has been identified by the team at HUH and they are looking to address and resolve every holder’s justifiable complaints as soon as possible. 

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