Avalanche Foundation Invests $100 Million in Meme Coins via NFT Incubator FundAvalanche

The Avalanche Foundation, overseeing Avalanche Network development, plans a substantial foray into meme coins. With a $100 million NFT incubator fund, they'll invest in select meme coins on the Avalanche blockchain.

Embracing Meme Coin Culture

In a move named "Culture Catalyst," the foundation aims to boost artistic expression and cultural identity using blockchain technology. The focus is on acknowledging unique cultures and enjoyment represented by meme coins.

Coqinu Skyrockets in Avalanche Ecosystem

Coqinu (COQ), a rooster-themed token, dominates Avalanche despite admitting its inherent valuelessness. With no development team or roadmap, COQ's value soared by 1.47 million percent, reflecting a broader trend of meme coin popularity across blockchains.

Market Frenzy and Trading Trends

The surge in Coqinu echoes a market-wide meme coin frenzy. One trader turned a $450 investment into $1.5 million in profit using COQ. This incident is part of a larger trend where traders prefer Avalanche and Solana for meme coin trading due to lower fees and faster speeds than Ethereum.

Criteria for Inclusion

To join the foundation's portfolio, meme coins must meet specific criteria like substantial holders, liquidity, project maturity, fair launch principles, and positive social sentiment.

The Avalanche Foundation's venture into meme coins reflects a broader shift in the crypto landscape, emphasizing cultural and artistic aspects facilitated by blockchain technology. The surge of Coqinu exemplifies the market's enthusiasm for meme coins, although caution is necessary due to their inherent volatility.