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All You Need To Know About Akita Inu

BitForex Editor
Apr 28, 2021

Multiple crypto tokens are released into the crypto market every day in hopes of getting investors to prove their market cap. And the relatively new Akita Inu coin is one of the numerous tokens slowly becoming popular in the industry. However, many people are unsure whether investing in this new token is profitable.

With many uncertainties surrounding the likely increase in value of the Akita coin, there's a lot of unanswered questions. Fortunately, we can provide the best answers to any information you might need about the Akita Inu coin.

What is The Akita Inu Coin?

Akita Inu is an ERC20 token originally founded on Uniswap about three months ago. Inspired by Elon Musk and Dogecoin, this token is very similar to SHIBA INU but differs in token metrics. Although it has been available all this while, it was only recently featured in multiple exchanges such as Bitforex. Currently, the Akita Inu coin is available on a total of seven different crypto exchange platforms.

These seven exchange platforms added Akita Inu for purchasing and trading in only under a week even though it has been available for three months now. This is because, in the past week, the trading volume of the Akita Inu coin grossed over $200,000,000. Hence, causing a notification to multiple investors and a trending status on major platforms such as CEX and CoinMarketCap.

This has further piqued the interest of numerous investors and has led to over 35,000 new investors.

The Akita Inu Community

The Akita token is still relatively brand new and as such far from being completed. This token is experimental and thus, has no features set in some yet. Currently, there are thousands of investors on the token's telegram working together to construct this token into a unique one. There are so many suggestions that are being approved by the project.

Some of the ideas by the team include;

1.Staking. This will allow different holders to make passive income from idle currencies.

2.Token burn

3.Decentralized social media platform

4.Akita website (Already in the works)

The social media platform will be similar to Twitter, however, investors will be able to support others by tipping Akita tokens. This token is also meme-based, which has proven to be very effective for driving adoption. Also, it is great for signaling how bearish or bullish an asset is.  Currently, over 50% of Akita Inu has been locked away and the keys burned.

How Does Akita Inu Compare To Dogecoin?

It's always expected for new tokens to be compared to other competitive coins, especially if the similarities are undeniable. The first similarity between Akita Inu and Dogecoin is that they both have a dog logo. However, the most important similarity is that they both have a community.

When the creation of Dogecoin was announced in 2013, it wasn't taken seriously when compared to other great coins such as BTC and Ethereum. It was considered a comical coin and back then, a lot of people were skeptical due to the unregulated marketplace. Plus, there were a lot of scam coins, however, the community was what kept the coin alive.

The Dogecoin community kept it alive because they believed a statement needed to be made. If you were conversant with the Reddit forums, you could tell it wasn't about the profit, but because they believed in the coin. Although the dogecoin stayed at a very low price point for a while, it boomed in the winter of 2017 and 2018. The support of a community slowly gave the dogecoin purpose and as such made it the competitive coin it is today.

The Akita Community Can Do The Same

Based on how effective the Dogecoin community was back when the world was still being introduced to peer-to-peer transactions, the Akita Inu community can do more. Unlike 2013, more financial institutions have accessed the crypto space and more people are looking to invest in many crypto projects. Hence, this is the perfect time for "sentimental" investors to put their money in possibly the next dogecoin.

Currently, there are at least 17,000 members on the Akita network on Telegram. And 11,000 investors who had the coin already and the number of investors seems to be increasing. If you are interested in learning how this coin evolves, then join the group and follow the messages within it.

Where Can I Buy Akita Inu?

As mentioned earlier, Akita Inu tokens are meme-based coins, which are small and obscure. You will most likely not find these types of coins on just any centralized crypto exchanges. For example, Binance, which is considered one of the top crypto exchanges globally doesn't list Akita Inu on its platform.

Instead of searching general crypto exchanges, other centralized exchanges such as BitForex are the best platforms to find Akita Inu tokens. It's also important to note that the Akita Inu token is Ethereum-based. Hence, you need an ERC-20 compatible digital wallet to store your tokens.

Investing In Akita Inu

If you are considering investing in Akita Inu then it is important to consider the value and predictions just like every other token. For instance, as of the 17th of April, Akita Inu rose by 772.17% with a 24-hour trading volume of $56,558,826 and a current ranking of #2421 on the CoinMarketCap ranking.

Although this looks promising, it's also essential to remember that the Akita Inu is still very new, and can experience a lot of fluctuations in pricing. Hence, if the price crashes very low then your money goes along with it. Ultimately, it's wiser to seek advice from a crypto expert before making your decision.

Akita Inu is a 100% decentralized experimental token that is being developed by a community of investors. Although many people seem to believe that Akita Inu is the new Dogecoin, it is difficult to predict the outcome so soon. However, with a powerful community behind this new token, it may slowly become a strong contender in the crypto market.

About BitForex:

BitForex is an exchange service platform that can be classified as one of the Top 20 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.

BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts,  derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.

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