Since Bitcoin’s creation in 2009, hundreds of cryptocurrencies have been developed, with all of their creators hoping to follow in Bitcoin’s successful footsteps. Naturally, some cryptos had more fortune than others, with some doing exceedingly well with sky-high pricing. There’s a multitude of cryptocurrencies available and some with playful names such as Dogecoin! This cryptocurrency was established in 2013 by software engineers Billy Markus and Jackson Palmer, who created the coin as a joke. However, their joke quickly propelled to success after Elon Musk tweeted that “Dogecoin is the people’s cryptocurrency.”
Since then, an array of meme tokens have been created and this article seeks to compare three cryptos in particular, HUH Token, Baby Doge and Shibu Inu, and see whether or not there is one to watch.
What Is HUH Token?
HUH Token is a soon to be launched cryptocurrency that uses blockchain technology to give everyone a chance to gain unique rewards. The creators claim that their mission is to ‘challenge the status quo and create a source of income for everyone’.
Points To Consider
HUH has an intelligent and easy to use referral system that is ideal for beginners. This referral system threatens to change the whole game. The creators state on their website that they have created a way for you to earn extra income passively through a one-of-a-kind referral system. The concept 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. What’s more, the rewards don’t stop there, as you both receive a discount sales tax from 20% to 10%.
While the token is yet to launch, this referral scheme may give HUH Token an edge over competing cryptocurrencies.
What Is Baby Doge?
If you are involved in the cryptocurrency world then you will be well aware of Dogecoin. Well, Baby Doge is a cryptocurrency designed by the Dogecoin community, and they have playfully declared that this crypto is the offspring of Doge.
Points To Consider
Owners of Baby Doge are encouraged to hold onto the coin and wait for the crypto to go up in value. While it is common for other cryptos to have no cap on the amount that can be mined, Baby Doge is pre-mined. Essentially, what this means is that no more coins can be created. As the coin will hopefully become scarcer over time, this is likely to boost the value of Baby Doge in future. However, investors should be aware that this ‘limited’ number of coins sits at 420 quadrillion. Due to the vast supply, the idea is that this low-cost coin is designed for early holders to purchase large amounts of the coin in the hopes that it will pay off in future. Also, holders of the coin are rewarded with a 5% fee from any transactions that are made on the Baby Doge network.
What Is Shiba Inu?
Shiba Inu is another cryptocurrency inspired by Dogecoin and was considered to be the mascot for Doge. However, now it acts as its own token on the Ethereum blockchain. Shiba Inu currently has a whopping 1 quadrillion coins in circulation at a similarly low price to Baby Doge.
Points To Consider
Industry experts predict that Shiba Inu may outperform Baby Doge due to its workable function and the fact that it is based on the reputable cryptocurrency, Ethereum. That being said, Shiba Inu is extremely dicey as prices can go up and down at any given moment, due to something as simple as a tweet. Elon Musk is known for his association with Dogecoin, however, recently he tweeted “My Shiba Inu will be named Floki,” and this tweet alone pushed the Shiba Inu price up by 25%. This cryptocurrency is fun and whimsical, but investors ought to be careful with this crypto due to its erratic nature.
Is There One To Watch?
Each of the three cryptocurrencies has promising elements, but as with any currency, there will always be an element of risk. Whichever one you choose to invest in will depend on your priorities, for instance, if you want to ‘get rich quick’ you might opt for a more erratic altcoin such as Shiba Inu, in the hopes that something will trigger its popularity overnight. On the other hand, if you are investing for generational wealth purposes, then opting for HUH Token might be more appropriate. However, you decide to invest, make sure to do your homework and research your options thoroughly.
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