El Hippo, the meme coin project, is set to burn $150,000 worth of HIPP tokens on December 19. This token burn represents 2% of the total supply and comes after the coin’s listing on Bitget and a surge in prices to an all-time high. Although the price of HIPP has retraced from its peak, it has stabilized around $0.0000000076.
The success of El Hippo can be attributed to its listings on MEXC and Bitget, as well as a $54,000 airdrop that helped raise its public profile. The project now has over 100,000 followers online and 10,000 HIPP holders, indicating growth in its community.
Token burns like this one can potentially increase demand for a coin by reducing its overall supply. While there is no guarantee that the HIPP burn will support prices, it may have a positive impact. Additionally, the growing interest in El Hippo suggests that it could follow the path of popular meme coins like Shiba Inu and Dogecoin.
Analysts will be watching HIPP prices closely to see how they are affected by the token burn. It remains to be seen what impact this event will have on the coin’s future performance.
By
By
By
By