The AVAX meme coins are making noise in the industry at present, with their ongoing price rallies after the Solana meme coins. With the recent news, that is surfacing regarding the Avalanche Foundation’s eligibility criteria to acquire meme coins for “culture and fun”, several Avalanche-based meme coins are trending in the market today.
Kimbo (KIMBO), Coq Inu (COQ), and Husky AVAX (HUSKY), meme coins stand out from others with their outstanding market performance. Let us look at the market performance of these tokens closely and also understand what exactly is happening with the Avalanche-based meme coins.
1. Kimbo (KIMBO)
Kimbo claims itself the number one dog-based meme coin on the Avalanche blockchain. With an adorable dog in a red jacket, displayed on its website, the meme coin is currently ruling the crypto market with significant price rise.
The KIMBO price is up 60% in the last 24 hours and its 24-hour trading volume has also witnessed a massive rise by 109%. From being as low as $0.00006774, the KIMBO token price went to as high as $0.00012 within a few hours after Avalanche made an announcement regarding meme coins.
Kimbo is known as a community dog-token of Avalanche and it was launched in December 2023, with a starting price of $0.00005719. The meme coin witnessed a massive price surge by the end of 2023 and reached a peak value of $0.0003265.
This massive price surge started when the Avalanche Foundation announced that it was going to recognize and encourage meme coins. A similar kind of price surge is happening today as the Avalanche Foundation released some new updates regarding the eligibility criteria for selecting meme coins.
2. Coq Inu (COQ)
Coq Inu came as a breath of fresh air into the meme coin industry, being a hen-based meme coin, among innumerable dog-based meme coins. Its price is also skyrocketing, following the Avalanche Foundation’s announcement about selecting meme coins based on a particular eligibility criteria.
The price of COQ token rose significantly by 35% in the last 24 hours and its 24-hour trading volume is up by 50%. From around $0.0000008521, the COQ price rose to as high as $0.000001225 and is currently trading at $0.000001171.
The COQ token was launched in the second week of December last year, with a starting price of $0.0000004363. Within the first week itself, it went on a price rally and reached an all-time high close to $0.00000387.
Following that, the COQ price plunged severely by the end of 2023 and got back up on January 1, 2024. Since the beginning of 2024, the COQ token is witnessing considerable price surge today.
3. Husky AVAX (HUSKY)
Husky AVAX is another charming dig-based meme coin on the Avalanche blockchain. Instead of being limited to a mere meme coin, HUSKY tokens have real-world applications for purchasing online merchandise, Music NFTs, and other NFT collections.
Inline with the other Avalanche-based meme coins, HUSKY meme coin price is also going up continuously. The HUSKY token is currently trading at $0.00000005406 and is up by over 30% in the last 24 hours. Its trading volume also rose by 55% since the price rise started. From trading at as low as $0.0000000401, it went to as high as $0.0000000529.
While the previous two meme coins were launched in 2023, Husky AVAX has been in existence since 2021. Its price witnessed several ups and downs for the last few years and reached a peak value of $0.0000002655 on December 9, 2023. The recent announcements from Avalanche Foundation are having considerable impact on the price of HUSKY tokens, including the ongoing price surge.
What’s Happening with AVAX Meme Coins?
The primary reason behind the price rallies of AVAX meme coins is the recent announcement from Avalanche Foundation. Recently, it released a blog post highlighting the eligibility criteria for selecting the AVAX meme coins. The conditions included several points such as high liquidity, trading volume, fair launch, snipe bot resistance, holder count, market cap, among others.
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 made headlines for releasing a statement from its official X account in December last year. It mentioned that the foundation was considering recognizing and encouraging meme coins by purchasing selected Avalanche-based meme coins. It even intended to use the $100 million worth Culture Catalyst fund to acquire meme coins.
The already existing meme coin popularity combined with the upcoming acquisition by Avalanche Foundation, several AVAX meme coins started trending the market, recording huge gains.
Source: https://coingape.com/blog/trending-avax-meme-coins/