How HUH Token can compete with the dastardly Dogecoin – Nairametrics
When dealing with cryptocurrency, it is important to remember its volatility and instability. Any coin or token that can offer extra measures in regards to these qualities deserves recognition and potential purchase. A new token that is releasing on the 6th of December this year is just that. HUH Token has a unique formula of social influence and tokenomic solidity, which could see it rival that of Dogecoin.
Dogecoin has recently been chastised by one of the biggest names in the digital finance world.
Elon Musk, the Techno King himself, has embraced the meme-based bitcoin competitor dogecoin as a vanity project this year. Mr Musk has confronted the Binance CEO Changpeng Zhao over shifty exchanges that are recurring in Dogecoin and the transaction concerns associated with them.
Dogecoin, which surged into the top ten cryptocurrencies by value early this year, due in part to social media backing from the likes of Elon Musk, has increased in value by a staggering 6,000 per cent since this time last year.
Binance, the world’s largest cryptocurrency exchange by volume, restricted dogecoin withdrawals earlier this month after an update that consumers said resulted in Dogecoin being erroneously credited to their accounts.
Elon Musk asked Chanpeng Zhao what was happening with his doge holders, accusing the actions of being “shady”. This was in response to a Coindesk report. Mr Musk stated that Dogecoin holders should be protected from Binance’s mistakes. This was a couple of posts on Twitter today, the 23rd of November. This issue stemmed from an upgrade error in which Dogecoin was randomly allocated to some holder’s wallets, Binance said that customers must return any dogecoin that was transferred in error, or those customers would not be able to withdraw or utilise currency on their Binance accounts.
There has been a lot of social media posts from users complaining that they do not have the excess Dogecoin in question on their Binance accounts and are yet still locked out of trading and withdrawing.
Chanpeng Zhao responded, saying that they believe it to be an issue with the current version of the doge wallet and that they have made efforts to be in contact with the developers of this wallet. Chanpeng Zhao is also apologetic about the troubles it is causing.
Following Musk’s tweet, Binance created a thread to clarify the situation and the problem that is happening with dogecoin withdrawals. The actual problem is a technical issue that occurred during a recent upgrade procedure. This caused out of date transactions to be resent to over 1,500 people.
They have had to completely rebuild the doge wallet in question, and this is creating a delay that Binance estimate to last at least another week.
The exchange originally reported the problem about two weeks ago and stated that the doge network withdrawals would be halted for 10 to 14 days from the 15th of November.
Despite the fact that his electric vehicle firm Tesla owns billions of dollars in bitcoin, Musk has frequently promoted Dogecoin as a viable alternative to bitcoin this year. Musk believes that Dogecoin, in collaboration with Ethereum, has the potential to apparently defeat Bitcoin.
HUH Token aims to follow this momentum. It combines a strong social component with a clever chain-based referral mechanism. This enables the person who acquires the HUH Token to refer an endless number of people who do not own the HUH Token through a code provided at the time of purchase. This recommendation entitles the referrer to 10% of the purchase price from the new HUH Token holder. Depending on the exchange used for the transaction, this 10% is allocated as Binance Coin or Ethereum. This is essential because it enables coin holders to not only generate passive income but also build stability in their wallets by spreading their holdings across numerous digital currencies. HUH Token also grows in the wallet over time, meaning that the longer you hold, the more tokens you get.
In terms of cryptocurrency stability and security, the HUH Token has allocated an astonishing $1,000,000 of liquidity that has been locked in for at least two years. This liquidity is distributed equally between the two first marketplaces where the token will be available, Uniswap and PancakeSwap. This coin has also been audited by Shellbox and Solidity Finance, with the Certik audit expected to be completed by the end of this week. The white paper for HUH Token is due to be released this week, which will assist in solidifying its aims and usefulness.
The next big announcement from this cryptocurrency in the next week will be the release of HUH Token’s whitepaper. This will help cement their ethos and demonstrate the direction they are heading in. HUH Token is leaving its presale in a few days and has experienced an overwhelming amount of deposits that are close to being fully allocated.
Follow HUH Token on their socials before they launch:
Contact Huh Token Project at [email protected]