It is no secret that Elon Musk is involved in crypto. Recently, Tesla, the company Elon Musk is the CEO of, reduced its Bitcoin (BTC) stash by 75%. However, Musk retains his support for meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). It has prompted new cryptocurrencies like HUH Token (HUH) to offer him their tokens for support.
So, how has the self-proclaimed ‘Dogefather’ influenced meme coins in the crypto market? When he publicly endorses a currency, it results in a considerable price spike. When he Tweeted that Tesla would accept Dogecoin as payment for merchandise, the price of DOGE increased by 33%. If HUH Token gets Elon Musk on board, HUH Token may become a household name like Dogecoin.
‘In Musk We Trust’ - HUH Token (HUH)
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Although the meme coin market is already saturated, there is still a lack of utility in it. Meme coins often rely on buzz and hype for success without providing their users with a variety of services to use on the platform. This is where HUH Token comes into play. The innovative platform has a myriad of features that its users can take advantage of.
HUH Token offers a Decentralised Exchange (DEX) called HUH Swap. The DEX will launch on the HUH Token blockchain which utilises a Proof-of-Stake (PoS) consensus algorithm. PoS allows for a quicker transaction speed for a lower cost while reducing the carbon footprint of the platform.
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Additionally, HUH Token will launch an NFT marketplace on the MetaHUH app which will act as a form of social media! You can connect with your friends and list your NFTs for sale on the app. Furthermore, you can mint your NFTs for a small gas fee. The cost of minting is free for presale users!
After the success of Dogecoin due to Elon Musk’s influence, HUH Token has dedicated a charity wallet holding 20% of the total amount of tokens. If Elon Musk accepts and tweets his support for HUH Token, the price spike for HUH would be astronomical. However, if he doesn’t accept the tokens, they will be given to charities!
Where Meme Coins Began - Dogecoin (DOGE)
Dogecoin was the trendsetter when it came to meme coins. Shortly after its launch, the crypto grew dramatically and now sits as the tenth largest cryptocurrency by market capitalisation. In the past seven days, Dogecoin has risen by 7.91% at the time of writing.
As mentioned above, Dogecoin has received many endorsements from Elon Musk. Each one has resulted in a growth in market capitalisation and a surge in daily trade volume. However, could Elon Musk be looking for an eco-friendly cryptocurrency?
Elon Musk talked about carbon emissions on the Joe Rogan Experience podcast. He mentioned how to reduce emissions and what he is doing himself. Dogecoin is a Proof-of-Work (PoW) platform notorious for high-energy usage.
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Will Elon Musk switch his support from Dogecoin to a platform with a smaller carbon footprint like the HUH token? All signs point to yes. If Dogecoin wants to retain the support of the ‘Dogefather’ it could consider switching to PoS like HUH token.
Final Thoughts
Elon Musk’s sphere of influence reaches far. Currently, he has over 100 million followers on Twitter. His past endorsements for Dogecoin have resulted in price spikes for the meme coin giant, but is it HUH Token’s turn?
HUH Token comes with a unique mode of operation that benefits the platform and the user, providing a token full of utility for Elon Musk to endorse. Stay tuned as 50,000 influencers will post about HUH Token in December.
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HUH Token (HUH) Links:
Swap: https://swap.huh.social/
Website: https://presale.huh.social/register
