Meme coins started as a joke but have made many holders thousands or millions of dollars. Today, there are more meme coins than ever before. Meme coins are notable for their high volatility. Also, they are known to be community driven. One meme coin that has recently caught the eyes of investors is Akita Inu. What makes Akita Inu appealing to crypto users, and what unique features distinguish it from other memecoins?
What is Akita Inu?
Akita Inu is a decentralized meme coin created using the ERC-20 protocol. It is a community-driven project that gives users a fun way to get involved in DeFi. What else do users need to know about this unique meme coin?
It was launched in 2021. In the last two years, the cryptocurrency has grown significantly. Like many other meme coins, it is a community-backed project whose token price is highly speculative. The protocol runs on the Ethereum blockchain but is interoperable with the Avalanche chain. Interestingly, AKITA holders can utilize blockchain bridges to enable seamless interaction between both networks.
The team consists of a remarkable group of innovators who have joined forces to revolutionize the field of decentralized meme currencies. This team is led by Marcus Zwick as the Project Manager, John Hua as the Community Lead Developer, Michael McCarthy as the Marketing Lead, and Sarah Smith as the Community Manager.
The AKITA Token
The ticker symbol of the Akita Inu token is AKITA. AKITA was built on the Ethereum network, and its native currency is an ERC-20 token. The team revealed that a significant portion of its token supply was sent to Ethereum’s founder Vitalik Buterin, just like with Shiba Inu.
AKITA has a maximum supply of 100,000,000,000,000. 7.82% of the total supply has already been burned. The team implemented token burning to improve the protocol’s tokenomics.
AKITA can be staked on decentralized protocols that support ERC-20 tokens. Since the token is relatively new in the crypto ecosystem, liquidity may be unavailable in some staking protocols. The best-decentralized platform for staking Akita is Uniswap since it has the largest liquidity.
Use Cases and Distribution
AKITA can be staked to earn rewards. AKITA holders can also make decisions that govern the ecosystem. The team locked 50% of tokens in the Uniswap liquidity pool, making token swaps seamless. In addition, 25% of tokens were locked in a four-year time-release contract to deter early investors from abandoning the project. Early adopters were rewarded with 25% of the tokens airdropped to community members.
Akita Inu vs Shiba Inu
The Akita Inu vs. Shiba Inu debate is not as fierce as that of Shiba Inu vs. Dogecoin because Akita is less famous than Shiba Inu. Although both are memecoins, Shiba Inu has caught the attention of more investors. In October 2021, Shiba Inu reached an all-time high of $0.00008845. That same year, SHIB also reached the top ten ranks in the crypto market. On the other hand, AKITA is yet to reach the top hundred ranks in the crypto market.
The Road Ahead
The team is developing a quicker, more secure, and more scalable version of the Akita Inu protocol called Akita Inu 2.0. Also, the team is developing a DeFi product called Akita Inu DeFi that will let holders use AKITA tokens to borrow, lend, and receive rewards. Further, Akita Inu NFTs will be utilized to access special features in the ecosystem. Finally, the team is pursuing partnerships with other crypto projects to expand its ecosystem.
What does the Akita Inu Symbol Represent?
The Akita Inu coin is a meme coin. It represents a dog breed and draws its design inspiration from leading meme coins like Dogecoin and Shiba Inu.
Is Akita Inu Different from gAkita?
Akita Inu and gAKITA are meme coins, each with unique characteristics. Akita Inu is a community-driven project that strongly emphasizes interaction and active participation. It was built on the Ethereum blockchain in 2021. On the other hand, gAKITA, a fork of Akita Inu, launched in 2022 and was created exclusively for the Avalanche blockchain.
How do I Purchase AKITA?
Uniswap, Gate.io, MEXC, and Hotbit are just a few exchanges where you can purchase AKITA. On Uniswap, the token can be purchased with WETH, while the centralized exchanges support purchases with USDT.