The Rise of AVAX Meme Coins
The AVAX meme coins are creating a buzz in the industry, following the footsteps of Solana meme coins. Avalanche Foundation’s announcement about acquiring meme coins for “culture and fun” has led to the trending of several Avalanche-based meme coins in the market.
Kimbo (KIMBO)
Kimbo, known as the number one dog-based meme coin on the Avalanche blockchain, is currently dominating the crypto market with its significant price surge. In the last 24 hours, KIMBO’s price has increased by 60%, accompanied by a massive rise in trading volume.
Coq Inu (COQ)
Coq Inu stands out among other meme coins as a hen-based meme coin. Following Avalanche Foundation’s announcement, COQ’s price has skyrocketed by 35% in the past 24 hours, along with an increase in trading volume.
Husky AVAX (HUSKY)
Husky AVAX is a dog-based meme coin on the Avalanche blockchain that offers real-world applications for online merchandise and Music NFTs. Similar to other Avalanche-based meme coins, HUSKY’s price has been continuously rising, currently up by over 30% in the last 24 hours.
What’s Happening with AVAX Meme Coins?
The recent surge in AVAX meme coin prices can be attributed to Avalanche Foundation’s announcement regarding their eligibility criteria for selecting these coins. The foundation emphasized factors such as liquidity, trading volume, fair launch, snipe bot resistance, holder count, and market cap. This news has prompted significant interest and investment in AVAX meme coins.
Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and propelling the adoption of blockchains. This initiative seeks to better position Avalanche to cultivate and support the many new forms of creativity,…
— Avalanche
(@avax) December 29, 2023
The Avalanche Foundation’s Culture Catalyst program aims to support creativity and innovation in the blockchain space. In December last year, they expressed their intention to purchase selected Avalanche-based meme coins using the $100 million Culture Catalyst fund. This news, combined with the existing popularity of meme coins, has contributed to the recent surge in AVAX meme coin prices.
Hot Take: The Growing Influence of AVAX Meme Coins
The rise of AVAX meme coins reflects the increasing recognition and acceptance of meme coins in the crypto market. With Avalanche Foundation’s involvement and support through their Culture Catalyst program, these meme coins are gaining traction and attracting significant investment. The eligibility criteria set by the foundation have become key factors influencing the price rallies of AVAX meme coins. As investors continue to seek out opportunities in this emerging market, it will be interesting to see how AVAX meme coins evolve and impact the broader cryptocurrency landscape.
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