- The Avalanche Foundation plans to acquire a collection of meme coins as part of its “Culture Catalyst” program.
- Criteria for selecting meme coins include factors like the number of holders, liquidity thresholds, project maturity, fair launch principles, and social sentiment.
- The foundation believes meme coins go beyond utility assets, representing the shared interests of diverse crypto communities.
The Avalanche Foundation, responsible for the development of the Avalanche network, has announced its plan to acquire a collection of meme coins as part of its “Culture Catalyst” program.
The foundation will select Avalanche-based meme coins for its collection based on various criteria. These include the number of holders, liquidity thresholds, project maturity, adherence to fair launch principles, and overall social sentiment.
The Avalanche Foundation sees meme coins as more than just utility assets. According to the foundation, they represent the collective spirit and shared interests of diverse crypto communities.
Meme coins are tokens associated with internet culture, often inspired by memes and social media trends. They can be influenced by internet phenomena, celebrity endorsements, or news events.
Read: BONK Fest 🎉
Read: Pepe 🚀 Coinbase 🆙 Crypto 🟢
Following the Avalanche Foundation’s announcement, the prices of Avalanche-based meme coins experienced significant increases. For example, Husky Avax saw a surge of over 66% in the past 24 hours, while Coq Inu rose by 11%. However, not all Avalanche-based meme coins reacted positively to the news.
Read: AI+ Crypto = $TURBO 🔋
Some experts caution that meme coins can be risky investments, as they may lack long-term value once the initial hype fades. Investors should be aware of the speculative nature of these assets and exercise caution when considering meme coin investments.