You might like: New Member of Avax Ecosystem, What is Coq Inu (COQ)?

What is Culture Catalyst?

Culture Catalyst is a $100 million program launched in March 2022 that aims to fund promising NFT projects on the network.

Avalanche:

This initiative is a step towards our goal of supporting the forms of creativity, culture, and lifestyle that blockchain provides. By selecting Avalanche-based memecoins, the foundation aims to recognize and promote the culture and entertainment represented by memecoins.

Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and propelling the adoption of blockchains. This initiative seeks to better position Avalanche to cultivate and support the many new forms of creativity,…

— Avalanche (@avax) December 29, 2023

Avalanche argues that memecoins are more than just an asset, and have become a representation of the collective spirit and shared interests of diverse crypto communities.

A post by an X user who is an Avalanche follower shared the following:

“Avalanche Foundation will be buying memecoins. We will be offering the highest bid for all memecoins on our chain.“

Avalanche has opened the floodgates with this announcement about the foundation buying memecoins

There is no reason to sneak around anymore. There hasn’t been any real blowback, which greenlights other chains to openly back memecoins

— BowTiedNightOwl (@BowTiedNightOwl) December 29, 2023

However, the Avalanche Foundation has stated that a worthless memecoin cannot be added to the foundation’s collection, and that strict selection criteria will be applied for all additions.

What are the Criteria for the Avalanche Foundation?

The criteria are based on a variety of fundamental criteria, including:

• A priority selection process
• Number of holders within the community
• Liquidity thresholds
• Project maturity
• Fair launch principles
• General social sentiment

Avalanche will be forming its collection taking into account all of these factors.

One memecoin that has recently come to prominence on the Avalanche network is Coqinu (COQ), a rooster-themed token. The token openly states that it is inherently worthless, and on its official website, it states that the coin “has no intrinsic value” and does not have any team or roadmap.

To visit COQ website click here.

However, according to DexScreener data, the token saw a more than 1,47 million percent increase in value from its launch on December 8 to its all-time high on December 20.

Avalanche’s announcement comes amid a market-wide frenzy for memecoins on every blockchain network that supports smart contracts or scripts.

In the process, one investor managed to make a profit of $1.5 million, starting with $450.

A trader turned $454 into $2.19M in 2 weeks by trading $COQ, a gain of 4827x!

This trader spent 17.26 $AVAX($454) to buy 4.86T $COQ through 7 addresses, then sold 4.61T $COQ for 32,251 $AVAX($1.26M) and 259K $USDC.

Currently holding 250B $COQ($700K), the profit is ~$2.19M. pic.twitter.com/arsaX6Uey8

— Lookonchain (@lookonchain) December 19, 2023

According to Lookonchain data, this investor used 17.26 Avalanche tokens ($454) to purchase 4.86 trillion COQ through seven different wallets. A week later, they sold 4.61 trillion COQ for 32,251 AVAX, worth $1.26 million. The investor is currently holding 250 billion COQ, worth $318,300.

The post Avalanche ‘s Memecoin Investment appeared first on Coin Engineer.

The $COQ coin, which has appeared on the market as the meme coin of the Avalanche ecosystem, has not yet been listed on any central exchange. After 2PM today, it is expected to be available on several exchanges. What catches the eye among these exchanges is the announcement that Kucoin will list $COQ at 2PM. This announcement was the exciting development for the investors.

New Listing@CoqInuAvax $COQ Gets Listed on #KuCoin!

Pair: COQ/USDT
Deposit: now open (network: Avalanche C-Chain)
Trading: 11:00 on December 18, 2023 (UTC)

— KuCoin (@kucoincom) December 18, 2023

If you don’t have a Kucoin account, you can click here to open an account. You can buy COQ after the listing.

Coq Inu ($COQ) Market Data

its maximum supply is 69.420 trillion. Currently, all the supply is in circulation, meaning there are 69.420 trillion COQ coins. Its market value is currently 136M dollars. When we look at the volume in the last 24 hours, we see 27.69M dollars.

To visit the Coq Inu (COQ) page, you can click here.

How to Buy Coq Inu Coin?

1 – Firstly, we need a metamask wallet. If you don’t have a Metamask wallet, you should watch the video below and create a wallet.

2 – After the Metamask setup, we need to send Avax to the Avalanche network. You can use Binance Exchange for this. If you are not registered with Binance, you can use our 20% commission discount registration link.

Things to consider when sending an asset from any exchange to your Metamask wallet:

1. Does the token or coin you want to send support the network you want to send?
2. I pasted my Metamask wallet address, but did I paste it completely?
3. Is the network open in your Metamask wallet the same as the network you selected in the exchange you are sending?
4. If you comply with these items completely, any token or coin you send will be realized as you want over the network you want.

3 – After the AVAX we sent came to our Metamask wallet, we go to the TraderJoe site.

We click on the part that says Connect Wallet and confirm the notifications that come from Metamask.

4 – After we connect our wallet to TraderJoe, all that remains is to do the trade transaction. We choose AVAX in the part that says From. We click on the part that says Select Token and choose the COQ coin.

We write the amount of AVAX we want to trade and click the SWAP button. We confirm the notification that comes to our Metamask wallet.

We need to add this coin to our wallet to see the $COQ coins in our wallet. Under the SWAP button, it says AddCOQtoWallet, we click on this part. We confirm the notification that comes to our wallet and now we can see how much Coq Inu we bought from our wallet.

NOTE: The writings are just informative content, definitely not investment advice.

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