The overall cryptocurrency industry has been facing a constant downtrend. It was last week when the overall valuation of the cryptocurrency universe fell below the $1 trillion mark.
As the overall valuation of the crypto-verse has fallen below the trillion-dollar mark, many thought that every cryptocurrency would be facing the same situation.
Akita Inu (AKITA) Demonstrates a Strong Performance
There are some cryptocurrencies that have continued gaining momentum and are only moving into the positive territory. These cryptocurrencies are constantly moving in the ascending channel and are showing no signs of slowing down.
One such example of a cryptocurrency demonstrating high gains is Dogecoin (DOGE) which reportedly experienced a significant surge. The report suggests that on June 21, the trading price of DOGE jumped 13%.
As a result of constantly experiencing a rally, the overall valuation of DOGE has regained its place in the list of top-10 cryptocurrencies.
Akita Inu Observes a Significant Uptrend
While you are planning to look at the price and movement of Dogecoin, you must also check another meme coin known as “Akita Inu”. It is a meme coin that has been released by a project named Akita.
Akita Inu has experienced over a 10% rally in the recent events despite the overall valuation of the crypto-verse having continued to move lower.
However, you won’t see any other cryptocurrency coming near to what Mushe (XMU) has demonstrated ever since it went live. You will be shocked to see that the trading price of Mushe has surged by 1000% from the time of its launch in April until now.
The story of the meme coins started with the introduction of Dogecoin (DOGE) back in 2013. The entire purpose of Dogecoin was to be a source of entertainment within the crypto community.
Now, the perception of people has changed surrounding meme coins and they are now among some of the most attractive assets within the crypto-verse.
Now, you would see AKITA being a token belonging to the ERC-20 network that is launched through the Ethereum blockchain. Initially, the token was launched without a project or a team. Now, it is similar to SHIB and DOGE and entertains a community of more than 60,000 holders.
The meme coin is also supported by a strong community of investors as well as moderators. These moderators and investors are responsible for the governance of the Akita Inu ecosystem.
The reason behind Akita Inu’s remarkable adoption is the orientation that has been changed for the meme coin. Initially, Akita Inu was just a meme coin but later on, it was converted to act as a utility token. The coin is constantly increasing its product and service portfolio.
AKITA is available as a utility token with cross-chain operational ability. The teams behind AKITA are aiming to make the coin available for multiple use cases. If you are someone who is aiming for HODL, then AKITA would prove to be a useful asset.