ArbInu, the most popular memecoin on Arbitrum, has seen a massive drop in price in recent days, losing around 90% of its value since setting record highs in March. Meanwhile, Love Hate Inu (LHINU), a utility-infused memecoin, has been generating a lot of excitement in the crypto space. LHINU is a dog-meme-inspired social media polling platform that features revolutionary stake-to-vote, vote-to-earn blockchain technology. Given its combination of virality and utility, many observers believe that LHINU will catch fire in 2023.
Love Hate Inu’s Revolutionary Platform
LHINU owners will be able to stake their tokens to get a share of the vote on each poll. Every time an LHINU owner participates in a vote, they will be financially rewarded. These rewards will be provided by the creator of each poll. The more tokens users stake, and the longer the vesting period, the more voting power they will wield over each poll. According to LHINU’s development team, the voting system is built on blockchain technology, ensuring that the process is fair, transparent, and secure. Investors can rest assured that bots won’t be a problem on the platform, as LHINU will need to be staked for a minimum of 30 days before a user can vote, making it prohibitively expensive/difficult for vote manipulation and spam bots to take over.
Impressive Growth Prospects
Love Hate Inu’s plan to launch the token on exchanges at a price of $0.000145 means that it will have a market capitalization of $14.5 million at launch. However, Love Hate Inu aims to become “the only online polling platform that truly matters.” If the project enjoys decent growth later in 2023 and achieves milestones in its roadmap, such as handing poll creation to the community, the monetization of Love Hate Inu data via brand deals, and integration into major metaverse experiences, the market cap of its LHINU token could go a lot higher.
If LHINU can reach even 5% of Shiba Inu’s $6.7 billion market cap, that would imply a market cap of over $335 million and an LHINU token price of $0.00335. That’s around 30x versus the current price. Some think the meme coin could go even higher, with Shiba Inu and other major meme coin prices expected to go significantly higher in the coming years as the crypto bull market returns.
Early Love Hate Inu investors could do extremely well. As with any meme coin, early investors have the opportunity to ride the wave of momentum and see significant gains in the short term. However, meme coins can also be highly volatile, so investors should carefully consider their risk tolerance and investment strategy before jumping in.