By- Sam bilings
Binance Coin, Bitcoin, Lite Coin, and many more powerhouses of cryptocurrencies dominate the market currently, all of them having a very profitable 2020 amid the pandemic. There is always an undercurrent of uncertainty on the unstable crypto sea but as the tide turns and the world embraces decentralised finance, the risks will slowly start to wash away. Will the newer cryptocurrencies like The Dogs of Elon, EverGrow Coin, and HUH Token be the next big waves?
Dogs of Elon (DOE) is a great example of using new innovation to capitalise on a niche. They have experienced much success from leaning into the canine memes of Non-Fungible Tokens (NFTs) and their figurehead, the Technoking of Tesla, Elon Musk.
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This cryptocurrency has taken inspiration from the likes of Cryptopunks. DOE is bringing the canine memes onto the NFT market, in an attempt, and succeeding, in milking the memetic potential of these puppies.
This week, the NFT collection has increased over eight-hundred percent, and currently, according to coinmarketcap.com, the Dogs of Elon is up 55% in the last twenty-four hours. With a trading volume of $64,000,000 which rivals that of Floki Inu and Samoyedcoin.
This coin has already started to establish and dig its roots in, there are however two brand new coins that are in play that could be as big, if not bigger, than DOE.
Binance Coin, Bitcoin, Lite Coin, and many more powerhouses of cryptocurrencies dominate the market currently.Unsplash
Six weeks ago, EverGrow Coin launched and it has been one of the quickest growing cryptocurrencies the cryptosphere has ever seen. The coin has provided rewards of over $20,000,000 to its holders already. These pay outs are automatically placed into the holders’ wallet in BUSD. EverGow has also burned fifty percent of the whole supply which permanently removes the coins from the pool. This isn’t a novel concept as many cryptocurrencies employ this strategy to lower their market cap. The difference between these cremated coins and other projects is that EverGrow’s coin leaves completely. In comparison, some other cryptocurrencies still share their reflections even though those coins have left circulation, this means that the rewards from EverGrow can be nearly twice as valuable.
Also Read: Status of Bitcoin in India
There are also plans for a launch of an NFT marketplace that contains play to earn games and a decentralised space for creators, this social platform will apparently have the potential to rival Onlyfans.
The next entry on the list has not been released as of yet but has announced its launch date as the 6th of December and their website is being released on the 10th of November. HUH token has been said to be designed for accessibility and is not only for the richest of investors. Similar to EverGrow, HUH Token has a unique way to generate passive income, potentially even more so.
HUH Token has a distinctive and simple referral scheme that uses codes which are given to investors to give 10% off of the purchases made by new wallet holders. The 10% received from the individual who uses your code is given in BNB. There are also rumours of a large portion of investors being well known social influencers with large followings.
The combination of this tokenomic strategy and the potential of an incredible following really could be an equation for the next Shiba Inu or Dogecoin.
It seems with this trend of increasing stability in the crypto world the next movement in crypto projects is focusing on utility and passive income. This article is in no way financial advice and any investments you take should be considered carefully. But, I would be concerned about missing out on the next big bullrush in the coming festive month.
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Disclaimer: (This article is sponsored and includes some commercial links)
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