Akita Inu : is it the Next Dogecoin?
Akita Inu is a little ERC 20 token that has achieved impressive success so far, despite its recent release only three months ago. Originally discovered on Uniswap, it has now been added to a number of exchanges, including MXC, HotBit, Poloniex, and others, for a total of seven platforms, with a new one being added with BKEX at the time of writing this press release.
This rapid acceptance was made possible by numerous days of trading volume in excess of $200,000,000, which resulted in CoinMarketCap and CEX displaying a trending status.
The Akita Inu is being constructed entirely with the assistance of community input. This is a project that has been completely democratised.
Over the course of the previous week, over 15,000 new investors have acquired this token, and another 22,000 have joined the project’s Telegram channel, where they will have the opportunity to begin developing this project into something truly unique.
The project is incorporating new ideas from the community, such as a token burn, staking to generate passive income from a holder’s idle currency, and the development of its own decentralised social media network, similar to Twitter, except that instead of liking tweets, users will be able to tip Akita to show their appreciation. All of this will be made possible through a collaboration with Polarfox.
In addition, the team is just a few days away from releasing a new version of the Akita website, which will serve as a stunning representation of the roadmap to come. So keep an eye out for that.
“Can the Akita Inu be the next Dogecoin?” says one.
Early on in the development of a new project, it is always tempting to assert that something innovative will be comparable to something else that has already been demonstrated to be comparable. That type of stark contrast will not be made in this news release at this time, unfortunately. Instead, the underlying belief of the token is a much more exciting comparison that needs be made in order to understand why Akita Inu might very well be the next Dogecoin, as previously said. The importance of belonging to a group.
First and foremost, let’s talk about how Dogecoin rose to become the sixth most valuable cryptocurrency on CoinMarketCap. It was first introduced in 2013 as a peer-to-peer digital money, and even in its early stages, it was regarded as a satirical form of payment. After all, a cartoon dog serves as the company’s logo. This sense of humour, on the other hand, was able to penetrate deep into the internet and quickly establish itself as something of a force and true competitor, even when compared to Bitcoin. The concept that, despite its hilarious nature, our furry little companion would be able to serve as the go-to cryptocurrency in the marketplace, undermining the traditional financial institutions, sparked a thriving community of cryptocurrency enthusiasts.
As a result of the scrutiny surrounding cryptocurrencies that require a purpose, Dogecoin’s capacity to compete has become increasingly harder to maintain over time. Dogecoin’s price remained at a very low level due to the fear of scam coins and, more importantly, an unregulated marketplace. That is, until the flurry of activity over the winter of 2017 and 2018. Doge’s stock price dropped below a cent. The market subsequently fell back down in 2018, with many analysts predicting that the entire sector – including Bitcoin – will be forced to choose between survival and failure.
The strength of the Doge community, on the other hand, remained with Dogecoin. When it comes to the Reddit forums at the time, it’s worth noting that the sentiment wasn’t particularly supportive of Doge. People did not do it because they expected to make a profit, but rather because they wanted to show the financial world that they were not afraid of them. It was this widely held assumption that kept people interested in and willing to continue to support something that served no practical function in the first place. It was the collective will of the community that allowed it to spontaneously find its own purpose.
What is the purpose of establishing an Akita community?
Take a look ahead to 2020 and 2021. In the current state of affairs, financial institutions are investing in cryptocurrencies, and Bitcoin is trading at record highs. Financial institutions are becoming involved, and more people than ever are wanting to invest in cryptocurrencies, especially as projects like Akita Inu become increasingly popular. Dogecoin has gone a long way in the eyes of both old and new crypto investors, and many of the same investors who share the playful-anti-establishment vibe will be on the lookout for the next Dogecoin.
The traditional financial institutions will be the target of the next round of attacks.
For example, we witnessed over the winter how users on Reddit came close to bankrupting one of the world’s largest hedge funds by shorting Gamestop shares. In the last century, a group of ordinary people pulled off one of the most ground-breaking financial manoeuvres the world has ever witnessed.
They came to one realisation…
They came to understand the importance of belonging to a group.
Akita Inu is an intriguing project that recognises the importance of community as well…and it should be noted that their emblem is also a dog. To be more exact, an Akita Inu, which is a Japanese bear hunting dog breed. A appropriate moniker for a cryptocurrency that is seeking to combat future bear markets through the collective power of the cryptocurrency community.
As of April 18, 2021, there are 17,000 members in the AKITA Network on the social media platform Telegram, and 2,000 to 5,000 active users are online at any given moment, according to the network’s website.
On the cryptocurrency exchange Etherscan, there are now 11,000 holders of the coin, and the number appears to be growing at a quick pace as more people learn about Akita Inu’s low pricing. Investors interested in purchasing Kishu Inu should be enthusiastic about this because the breed is still in its early stages and the foundations of a strong and vibrant community are already being established.
So, how is it possible that the Akita Inu will become the next Dogecoin?
Consequently, while comparing the Akita Inu and the Dogecoin, there is one characteristic that is very comparable, a factor that is truly the make it or break it factor in this comparison; community.
Akita Inu has established solid foundations, and the level of participation within its own community suggests that this momentum will continue and may even become a strong bull even during a weak market due to the long-term affordability of the breed in question.
While the mindset of the community is vital, it is also something that needs to be watched closely in the future. Is the community merely looking for a quick influx of cash? Alternatively, does the community recognise that they are playing the long game and that they have an opportunity that will last years rather than months or weeks?
Will they be able to attract Dogecoin fans who have a rebellious attitude toward financial institutions while also maintaining a sense of balance and promoting a joyful and lively environment?
Only time will tell how this initiative will develop, but for the time being, Akita Inu appears to be well-positioned to establish itself in the market for many years to come. Check out the messages that have been pinned to the top of the Telegram group if you’re interested. There, you will find the roadmap as well as the most up-to-date information about where our community is headed in the future.