Bitcoin (BTC) has been battling in the market, dropping over 2.6% in the past week. While BTC and the altcoin market continue to struggle, Solana memecoin Husky Inu (HINU) generated over $680,000 in its presale.
Bitcoin Loses Steam
Bitcoin Dominance (BTC.D) recently reached a high of 60.1% but has declined to around 50%. While a decline in BTC’s dominance was expected, a surge in altcoins was also expected. The past time has, however, revealed that the crypto market at large is losing steam, but top altcoins are stepping up to claim their share of the total market capitalization of cryptocurrencies.
Bitcoin Dominance measures BTC’s relative share or dominance in the overall crypto sector. This measure represents the percentage of Bitcoin’s total market cap compared to the total market cap of all cryptocurrencies combined.
Bitcoin currently trades for $94,916 – representing a weekly loss of over 2.6%.
Dogecoin (DOGE): The OG Memecoin
Dogecoin (DOGE), the top memecoin by market cap, exploded after Donald Trump’s victory over Kamala Harris in the US presidential election. DOGE ranks as the 7th largest crypto with a market cap exceeding $47.4 billion, and further gains are expected in the coming months. DOGE quickly rose through the ranks to become a household name in the crypto industry, owing its success to a strong community spurred by the involvement and endorsement of Elon Musk. The tech mogul is the world’s richest man, CEO of Tesla, and owner of social media platform X (formerly Twitter). Musk joined the Trump campaign, playing an integral role in the president-elect’s victory, and his involvement with the party could see DOGE run to new heights as the Trump administration comes into power.
DOGE’s value stepped into overdrive after Donald Trump released a statement naming Elon Musk and Vivek Ramaswamy as the leads of the Department of Government Efficiency, or DOGE. According to Trump, DOGE will pave the way for his administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditure, and restructure Federal Agencies – Essential to the “Save America” Movement.”
Shiba Inu (SHIB)
Shiba Inu (SHIB) is one of the top-selling memecoins with a market cap exceeding $13 billion. The decentralized community-led token and its reputation as the “Dogecoin Killer” has yielded impressive rewards in the past year, gaining over 108%. SHIB is also a proud member of the Solana network and is Husky Inu’s best friend. The memecoin quickly rose to fame in the crypto industry and has since become a household name. SHIB, launched in 2020, is currently the 14th largest crypto by market cap and the second biggest memecoin after Dogecoin (DOGE). This decentralized, community-led project and its native token, SHIB, quickly gained the attention of its dedicated community of investors thanks to its charm and support from industry giants such as Ethereum co-founder Vitalik Buterin and Tesla CEO Elon Musk.
Husky Inu (HINU) Likely to Benefit on Timing
Market onlookers and crypto enthusiasts reacted positively to the end of Gary Gensler’s brutal and belligerent regime. Under Gensler, several large crypto firms and prominent industry figures faced regulatory scrutiny and enforcement action, which drove many to seek refuge off US shores. Donald Trump won the hearts of a large part of the industry with a promise to make the US the world’s crypto capital, and the relief brought by this promise is reflected in current market behaviour.
The renewed optimism toward digital assets will likely benefit new projects as investors regain trust and confidence in the industry.
Husky Inu (HINU), the latest memecoin sensation from the Solana network, will surely reap the rewards of industry news. Husky Inu recently launched the presale of its native token, HINU, with tremendous success, and the two are on a mission to conquer the memecoin industry through a robust and supportive community with innovative features and enhanced rewards.
Since going live, the presale has generated over $686,000, with numbers expected to rise rapidly as the crypto market explodes. Husky Inu is working on some exciting things, including an Earn App and a Decentralized Exchange. The Earn App will reward users with HINU tokens for engaging with the project, and the Decentralized Exchange will facilitate decentralized trading to improve utility and value for HINU holders. Husky Inu boasts several unique features that set it apart from traditional investment opportunities, including a capped token supply, a deflationary mechanism, speedy transactions, and charity voting.
Join the HINU presale now to enjoy the immense potential of the burgeoning crypto sector.
Visit the following links for more information on Husky Inu:
Website: Husky Inu Official Website
Twitter: Husky Inu Twitter
Telegram: Husky Inu Telegram
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
