Since its all-time high at the end of October, Shiba Inu’s price has continued to decline, in part due to Robinhood’s refusal to accept the meme coin, even after a major appeal from the Shibe Inu clan. Meanwhile, its competitor HUH Token has announced this week that it plans to lock in a $1 million liquidation for two years when it goes live on 6 December.
Shiba Inu’s price has certainly been impacted by the lack of enthusiasm on the side of Robinhood, a popular cryptocurrency exchange.
If either Coinbase or Robinhood listed Shiba Inu, its liquidity would skyrocket. Trading on these more established and larger platforms would be substantially easier.
Shiba Inu’s inclusion on these platforms would send a positive message to the market about the product’s intrinsic value. But it doesn’t appear this is a likely scenario.
In a nutshell, in response to user demands, Robinhood politely denied to list Shiba Inu. Christine Brown, the company’s COO, indicated unequivocally that the risk/reward trade-off is not worth it.
Brown stated in a YouTube interview, “We think that the short-term gain to us is not worth the long-term trade-off for our users. We want to make sure that we are working and assessing everything from a regulatory perspective”.
Because of the rise of cryptocurrencies, regulators are scrutinizing Robinhood and Coinbase more thoroughly. This reflects poorly on Shiba Inu and implies it cannot be propelled into prominence by brute force alone.
A new cryptocurrency is undoubtedly looking to achieve what Shiba Inu could not is HUH Token. The new meme token is launching on 6 December with $1 million in liquidity locked in for two years. HUH Token will be available on popular exchanges PancakeSwap and Uniswap.
Huh Token aspires to be more than just a meme token, assertively addressing the flaws of most meme cryptos. HUH Token has been dubbed a “Utimeme” by its makers because of its unique traits and emphasis on long-term growth through fervent holding and locked-in liquidity.
HUH Token will also have a finite supply, which means that the total number of tokens in circulation will never grow. With thousands of holders already investing in the pre-sale, the 1% of HUH Tokens earmarked for pre-sale has almost sold out.
Additionally, HUH Token is building a unique referral scheme, with holders earning 10% of the initial investment of people they refer. This commission will be paid out to holders in Binance (BNB). As a bonus, there is no limit to the number of people that can be referred.
HUH Token has addressed most of Shiba Inu’s flaws, but only time will tell if this new coin can compete for the top spot on more reputable platforms like Coinbase. That being said, this newcomer has a lot to offer.
Story by Frekly Mark
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