The crypto market has witnessed a bloodbath this week, as Bitcoin (BTC) and other cryptocurrencies have plunged to lows not seen in over a year. As a result of this most recent selloff, the crypto market cap plunged over 6% to slip below $3 trillion and settle at $2.68 trillion.
Husky Inu (INU) is in the middle of its presale, and the newest meme coin on the block has already raised over $710,000, with community members eager to drive this figure to over $1 million. However, what impact, if any, can this market downturn have on Husky Inu and its presale?
The Crypto Market Is In The Doldrums
The crypto market has plummeted over 8% as cryptocurrencies, including BTC and ETH, registered significant declines. The crypto market cap is down over 6% at $2.68 trillion, as bearish market sentiment threatens to drag it lower. BTC has declined nearly 18% over the past week, while ETH is down almost 25%. Other cryptocurrencies have registered similar numbers, with Ripple (XRP) down over 23% and Solana (SOL) down 22%. If we look at other meme coins, Dogecoin (DOGE) is down nearly 26%, while Shiba Inu (SHIB) is down just over 15%.
Husky Inu (HINU) Presale Surges Past $710,000 Despite Bearish Market
Husky Inu (HINU) is the latest meme coin in the market and is setting itself up to compete against established industry giants like DOGE, SHIB, and BONK. The project aims to bring greater utility and value to the meme coin ecosystem by leveraging the power of the Solana ecosystem. Husky Inu aims to build a robust and supportive ecosystem boasting innovative features and enhanced rewards.
Despite the ongoing bearishness in the crypto market, the meme coin community has thrown its weight behind the project, with the presale having crossed the $710,000 mark at the time of writing. The first stage of the presale sold out within days, with subsequent stages attracting significant interest.
The success of the presale should come as no surprise given what the project is planning. Husky Inu plans to launch an Earn App and a decentralized exchange. The Earn App will reward users with HINU tokens for interacting with the project and completing a variety of simple tasks. On the other hand, the decentralized exchange will facilitate trading and enhance utility for token holders.
What Makes Husky Inu An Excellent Buy?
Husky Inu focuses on creating a reliable token ecosystem using a well-thought-out distribution model and a cap on the HINU token’s maximum supply. The project has capped the token supply at 100 billion and uses a unique deflationary supply element that sets it apart from other meme coins in the ecosystem. The deflationary aspect means the platform will use 50% of all platform fees collected from the Husky Inu exchange and DEX and use them to buy and burn HINU tokens, reducing the token supply. The platform also plans to use 5% of the token supply towards community rewards and charities to help support goodwill causes and other user-supported charities.
In Closing
Despite the turmoil in the markets, the Husky Inu` presale is still going strong. With the unwavering support of the community, the presale could hit $1 million. However, the project must ensure it sticks to its roadmap and ensure the launch of its Earn App and decentralized exchange is on schedule.
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.
