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Avalanche Foundation to Acquire Meme Coins in Cultural Initiative

10 January 16:11

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![](https://gimg2.gateimg.com/image/article/1690791857hotspot.jpeg)
## [TL; DR]
The value of COQ, Husky and SHIBX rose by up to 25% within two hours after the <a href="/price/avalanche-avax" target="_blank" class="blog_inner_link">Avalanche</a> Foundation announced its intention to invest in memecoins.

SHIBX, COQ, ROCKET, WOLF, RPG and HUSKY are the leading memecoins on the Avalanche network.

The Avalanche Foundation will use several criteria that include the number of holders, social sentiment, liquidity thresholds as well as project maturity to select the memecoins to invest in.

## Introduction
From the beginning of 2023 to its end most major cryptocurrencies performed well creating confidence in the sector.  During the same period several meme coins also fared well as they gained by large margins. SHIB, Ape coin and <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a> are some of the memecoins [that performed well during the year](https://www.gate.io/price/view/meme-token "that performed well during the year").

More significantly, several memecoins that exist on the <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> blockchain appreciated as well. That has prompted Avalanche to invest more in memecoins. Today, we discuss how Avalanche plans to invest in memecoins.

## Avalanche Ecosystem to Acquire Memecoins in Recognition of the Cryptocurrency Market Niche
The Avalanche Foundation, the organization that funds the Avalanche blockchain, stated that it will invest in memecoins. It will use its $100 million Culture Catalyst Fund to buy memecoins that will become part of its investment portfolio. Originally, the Foundation set aside the money to fund innovative and promising non-fungible tokens.

Read also: [What are memecoins, and can they make you rich?](https://www.gate.io/blog_detail/452/what-are-memecoins-and-can-they-make-you-rich "What are memecoins, and can they make you rich?")

The purpose of the Avalanche Foundation Culture Catalyst Fund was to promote and empower creators thereby supporting innovation and creativity which propels the adoption of the blockchain.

Now, by investing in the memecoins, [the Avalanche Foundation](https://twitter.com/avax/status/1740538202346381605?ref_src=twsrc%5Etfw "the Avalanche Foundation") “seeks to better position the blockchain to cultivate and support the many new forms of creativity, memecoin culture, and lifestyle.” To achieve this, it will purchase Avalanche-based memecoins as a means to promote the fun and culture which these digital assets symbolize.

The Avalanche Foundation believes that [memecoins have much more significance](https://www.gate.io/learn/articles/what-is-meme-coin/92 "memecoins have much more significance") than the market currently assigns to them. Commenting in its post, the Foundation said, “These coins, often inspired by internet culture and humor, go beyond mere utility assets; they represent the collective spirit and shared interests of diverse crypto communities,”

[As per the Foundation](https://twitter.com/avax/status/1740538202346381605?ref_src=twsrc%5Etfw "As per the Foundation"), the reason for investing in meme coins is that they have already “carved a niche” in the web3 economy alongside non-fungible tokens and real-world assets (RWAs). With this, the Avalanche Foundation has found it worthwhile to include memecoins in its portfolio.

Emin Gün Sirer, the founder and CEO of Ava Labs admitted that he now values meme coins more than before after he realized that they are an important part of the ecosystem.

Posting on X, [he said](https://x.com/el33th4xor/status/1740822013327941883?s=20 "he said"), “It took me a while to see the value of memecoins myself. I wasn’t happy when Elon was pumping Doge. It also took a while for me to see the value of high-end NFTs. But I now understand the cultural importance of coins that are just social signalling mechanisms.”

Read also: [How to Buy Avalanche (AVAX)](https://www.gate.io/how-to-buy/avalanche-avax "How to Buy Avalanche (AVAX)")

## Avalanche’s Selection Criteria for the Memecoins
The Avalanche Foundation has made it clear that it will use strict criteria when selecting the meme coins to buy. It is not going to buy memecoins of low value and demand.

According to the Foundation, “The selection process for this collection is based on several key criteria, including the number of holders, liquidity thresholds, project maturity, principles of a fair launch, and overall social sentiment, among other factors.”

## Performance of the Avalanche-based Memecoins
The values of several Avalanche-based memecoins that include husky (HUSKY) and shibx (SHIBX) rose by around 25% within 24 hours after the Foundation announced its intention to make memecoins part of its portfolio.

The strong token surge is not something new. Between November and  December 2023 the value of a Solana-based memecoin, Bonk, surged by more than 700%. During that period several tokens on the Solana blockchain gained significantly.

The Bonk rally triggered a positive performance of many memecoins on different blockchains, including Avalanche and Solana. The hen-themed Coq Inu (COQ) and Shibx were some of the Avalanche-based memecoins whose prices surged by large margin.

As an example, the value of COQ meme coins worth $450 at the time of issuance rose to $2.5 million by the end of December. That illustrates the large gains the crypto traders who purchased COQ tokens made during a short period.

In fact, the COQ memecoin performance was outstanding leading to many crypto traders raking in huge profit. Through trading COQ one [trader turned $454 into $2.19M](https://twitter.com/search?q=%24COQ&src=ctag&ref_src=twsrc%5Etfw "trader turned $454 into $2.19M") within a fortnight. Many traders favour to trade memecoins on Solana and Avalanche blockchains due to their fast and cost-effective transactions.

Read also: [AVAX Price Prediction & Forecast for 2025, 2030](https://www.gate.io/price-prediction/avalanche-avax "AVAX Price Prediction & Forecast for 2025, 2030")

## Popular Memecoins on Avalanche Blockchain 
Although Coq Inu (COQ), whose market capitalization grew by over 150% within a few hours, is the leading memecoin on Avalanche there are other tokens on that blockchain.

HUSKY AVAX ($HUSKY): $HUSKY is one of the leading Avalanche-based memecoins to buy. Its value increased by over 80% after Avalanche announced that it will include memecoins in its portfolio.

RED PONZI GUD ($RPG): Anyone who wants to buy memecoins based on the Avalanche blockchain should also consider RPG. In the short period, referred above, the value of RPG increased by 216%. making it one of the most bullish memecoins on the network.

TEAM ROCKET ($ROCKET): The value of ROCKET, a token developed as a tribute to the pseudonymous developers who designed the Avalanche blueprint, rose by 107% within the cited period.

LANDWOLF ($WOLF): This token is gaining much traction as it symbolizes the innovative and commitment of the AVAX community to embrace memecoins and other digital assets. The [Avalanche coin](https://www.gate.io/learn/articles/what-is-avax/214 "Avalanche coin") enthusiasts can also invest in memecoins [like WOLF](https://www.gate.io/how-to-buy/wolfcoin-wolf "like WOLF").

SHIBAVAX ($SHIBX): We have already talked about the SHIBX token surge that underscored the great interest in meme coins within the Avalanche community. SHIBX together with COQ, ROCKET, WOLF, RPG and HUSKY are the bedrock of the memecoin culture of the Avalanche community.

## Conclusion 
The Avalanche Foundation has announced its intention to include memecoins in its portfolio. SHIBX, COQ, ROCKET, WOLF, RPG and HUSKY are the leading memecoins on the network. The values of these tokens rose by between 25% and 215% within two weeks after Avalanche Foundation announced its intention to invest in memecoins.

##  FAQs about Avalanche Memecoins
### What are Avalanche based memecoins?
Avalanche based memecoins are the memecoins that are minted on the Avalanche blockchain. SHIBX, COQ, ROCKET, WOLF, RPG and HUSKY are some of the memecoins that exist on the Avalanche blockchain.

### What is Avalanche Foundation and Avalanche network?
The Avalanche Foundation is a non-profit making organization that funds and manages the developments that occur on the Avalanche blockchain. The Avalanche network consists of the Avalanche blockchain and the other decentralized applications that exist on it.

<div class="blog-details-info">
<div>Author:**Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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TL_ DR

Introduction

Avalanche Eco_ to Acquire Memecoins in Recognition of the Cryptocurrency Market Niche

Avalanche’s Selection Criteria for the Memecoins

Performance of the Avalanche-based Memecoins

Popular Memecoins on Avalanche Blockchain

Conclusion

FAQs about Avalanche Memecoins

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