THE MEME CURRENCY OF COSMOS $HUAHUA
$HUAHUA is the meme coin of the Cosmos ecosystem. It is the cryptocurrency of the Chihuahua chain; a Cosmos ecosystem zone built with the Cosmos SDK to interoperate using the advantage of the IBC protocol. Chihuahua blockchain is governed by users who actively stake $HUAHUA for staking rewards and other additional rights. Such rights include voting on governance proposals and accessing a Community Pool with +10B HUAHUA (more than 40M dollars).
Maybe you’re just coming across the word meme or meme coin for the first time; let’s do a quick review about meme coins.
What are meme coins?
A meme is an image, video, piece of text, etc., typically humorous, copied and spread rapidly by internet users, often with slight variations. Meme coins are cryptocurrencies inspired by memes and internet jokes. $DOGE is the first meme coin in existence. It was created to poke fun at Bitcoin, and that’s why the letter “e” was added to the word “dog” to make it more ridiculous.
Despite being a coin without any underlying utility or value, Dogecoin has earned tremendous popularity in the blockchain space with celebrity hype. An instance of this was when Musk appeared on a “Saturday Night Live” skit where he referred to himself as the “Dogefather.” the statement pushed the price of $DOGE during that time.
Since meme coins lack a purpose other than to be traded, they’re incredibly volatile. While cryptocurrencies suffer from more drastic swings in value than traditional currencies, meme coins take that volatility to an entirely different level. One of the reasons that meme coins undergo such extreme changes in value is because of the way they’re designed. Unlike fiat currencies and most cryptocurrencies, meme coins often have an uncapped supply, meaning there’s no limit to how many of them can exist.
$HUAHUA COIN
$HUAHUA is a meme coin with some of the characteristics explained above. The difference is that it has a value-driving mechanism and doesn’t rest on hype alone. $HUAHUA is the currency of the Chihuahua chain; this means other meme coins can spring up on the chain as tokens. The Chihuahua blockchain has been growing despite the absence of a clear road map.
Some of the remarkable steps taken by the Chihuahua community to add more utility and value to $HUAHUA include:
$PUPPY Coin
A new meme token called $PUPPY is launching on the Chihuahua chain. The total supply of $PUPPY is 21m and it will list on HuahuaSwap and Osmosis. Chihuahua will develop an ecosystem of meme currency. That is to say, other meme coins springing up on the Chihuahua chain, will pay transaction fees in $HUAHUA. This will add an essential utility to the coin.
HuahuaSwap
HuahuaSwap is the first Dex for meme coins in the cosmos ecosystem. It is a community-driven Dex built to add utility to $HUAHUA coin. Coins will list on the Dex based on the Chihuahua community governance. All swap fees generated from swaps on the Dex accrue in $HUAHUA and 50% of each fee will be burnt.
NFTs
A Series of NFTs has been minted as a mechanism to add more value to $HUAHUA. Some of the NFTs are non-profit, yet they got sold out quickly. One of these NFTs is the HuahuaPunks NFT which sold out in less than a second. The commissions and royalties from the NFT will all be burnt to reduce the supply of $HUAHUA. HuahuaPunks will be available for trading on Stargaze and Teritori marketplace. That is already a lot from a meme coin and an edge over other meme coins. At the time of writing this article, holders of HuahuaPunks NFTs are waiting in anticipation for the $TORI airdrop. There’s no doubt that $HUAHUA is a meme coin but it is not to be underrated.
Chihuahua Verse
There’s an upcoming interconnected Metaverse (Chihuahuaverse) under development by Passage3D. Chihuahua Verse is planned to be released in December of 2022 with more details concerning it.
Is $HUAHUA worthy of Investment?
For a meme coin like $HUAHUA, all the discussed updates are enough as fundamental analysis. As for meme coins in general, staying abreast of current and future trends, meme coins can be an incredibly valuable investment. This is especially the case since their value is so low, allowing investors to purchase a sizeable number for a minimal amount of money. Even if you choose never to invest in meme coins, they’re an important part of today’s crypto market and something to be aware of.
Reach out to Chihuahua community to learn more about $HUAHUA
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