Akita Inu

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Discover Akita Inu's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Akita Inu?

Akita Inu (AKITA) is a decentralized, community-driven meme token built on the Ethereum blockchain as an ERC-20 token. It was launched in February 2021 and later bridged to the Avalanche network to enhance its scalability and usability. The token aims to provide a fast, affordable, and eco-friendly platform for transactions, with a focus on decentralized governance and community involvement.

How is Akita Inu used?

Akita Inu (AKITA) is a decentralized, meme-based cryptocurrency token on the Ethereum blockchain. It is primarily used for value storage and investment, similar to other cryptocurrencies. The token is part of a community-driven experiment within a social media platform, where holders can participate in governance through the HACHI token.

How do I store Akita Inu?

To store Akita Inu (AKITA) tokens securely, you have several options:

  1. On-Chain Wallets: If you are familiar with operating on-chain wallets, you can store your AKITA tokens directly on the blockchain.

  2. Software Wallets: You can use software wallets like Metamask or Trust Wallet to store your AKITA tokens. These wallets are programs that store your cryptocurrency using a pair of public and private keys to encrypt and decrypt your tokens.

  3. Hardware Wallets: For maximum security, you can opt for hardware wallets, which store your tokens offline on a physical device. This is recommended for long-term storage.

  1. Exchange Wallets: You can also store your AKITA tokens on your exchanges' wallets, such as Binance Wallet, or on crypto wallets like Trust Wallet. For long-term storage, you can transfer them to a cold wallet instead of a hot wallet.

  2. MEXC Account Wallet: If you purchased your AKITA tokens on MEXC, you can store them in your MEXC Account Wallet or send them to another location.

Remember to always follow best practices for securing your wallets and private keys to protect your AKITA tokens from potential theft or loss.

How to buy Akita Inu?

To buy Akita Inu (AKITA) tokens, you can follow these steps:

Buying from a Decentralized Exchange (DEX)
  1. Choose a DEX: Select a decentralized exchange that supports the blockchain where AKITA resides.
  2. Set up a crypto wallet: Download and install a Web3 crypto wallet (e.g., Metamask) or an App wallet (e.g., Trust Wallet) supported by the DEX.
  3. Transfer mainnet cryptocurrency: Transfer the corresponding mainnet cryptocurrency (e.g., ETH, BNB) to your wallet.
  4. Connect to the DEX: Connect your wallet to the DEX by clicking "Connect Wallet" and following the instructions.
  5. Swap for AKITA: Find the "Swap" option, select the token you want to trade from, and AKITA as the token you want to buy. Enter the amount and confirm the swap.
Buying from a Centralized Exchange (CEX)
  1. Register on a CEX: Create an account on a centralized exchange that supports AKITA trading.
  2. Verify your account: Complete the verification process, which typically includes providing a government-issued ID and enabling two-step verification.
  3. Buy USDT, ETH, or BNB: Use fiat to purchase USDT, ETH, or BNB on the CEX.
  4. Transfer to AKITA trading platform: If necessary, transfer your purchased cryptocurrency to a CEX that supports AKITA trading.
  5. Buy AKITA: Use your purchased cryptocurrency to buy AKITA in the spot market.
Additional Resources
  • For detailed step-by-step guides, refer to CoinCarp's guide on buying AKITA from DEX and CEX.
  • Binance provides a guide on buying AKITA through a DEX, even though it is not listed on Binance itself.
  • You can also find community support and discussions on Reddit.

Remember to be cautious of scams and ensure you are using official contract addresses and reliable exchanges.

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History of Akita Inu

Akita Inu (AKITA) is a decentralized community-driven meme coin launched on February 1, 2021, on the Ethereum blockchain as an ERC-20 token. It was created as a social experiment, inspired by Elon Musk and Dogecoin, and named after the Akita Inu dog breed known for its loyalty and bravery.

Launch and Initial Strategy

The AKITA token was launched with a maximum supply of 100 trillion tokens. In a unique move, 50% of the token supply was sent to Vitalik Buterin's wallet, effectively locking it away, while the other half was transferred to Uniswap for liquidity. This strategy aimed to achieve fairness in wealth distribution and create a sense of community ownership.

Early Challenges and Community Response

Initially, the project faced challenges, including a "rug-pull" by the developers, who extracted significant value from the community before abandoning the project. Despite this setback, the original investors decided to collaborate and establish a viable project that could utilize or transform the AKITA token.

Community Governance and Development

The Akita DAO was formed, allowing token holders to propose improvements and vote on the direction of the project using the HACHI governance token. This decentralized governance model empowers the community to develop products and applications that benefit its members.

Bridge to Avalanche and Liquidity

To enhance the token's usability, AKITA was bridged to the Avalanche network, enabling faster and cheaper transactions. The liquidity is locked on Ethereum's Uniswap V2 contract, ensuring token stability and availability for trade.

Vitalik Buterin's Involvement and Public Goods

Vitalik Buterin transferred his AKITA tokens to the multisig treasury of the Gitcoin DAO, which administered Liquidity Bootstrapping Pools (LBPs) on the Balancer platform. These efforts raised over 4,038 ETH for public goods, demonstrating the potential for community-driven initiatives.

Current Status and Market

Today, Akita Inu has a strong community with over 100,000 holders and listings on various exchanges. Despite market volatility, the project continues to evolve, focusing on providing a safe, quick, and affordable platform for transactions without the need for intermediaries like banks.

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How Akita Inu works

Akita Inu (AKITA) is a decentralized cryptocurrency token built on the Ethereum blockchain. It was launched in February 2021 and has been gaining popularity since then. Here's how it works:

Token Structure

Akita Inu is an ERC-20 token, which means it operates on the Ethereum blockchain. The majority of the token supply is held by Ethereum's founder, Vitalik Buterin, while the remaining tokens are stored in a smart contract on Uniswap, a decentralized exchange. This setup ensures exceptional liquidity for the token.

Trading and Purchasing

To purchase Akita Inu, you need to follow these steps:

  1. Open an Account: Create an account on a cryptocurrency exchange that supports Akita Inu.
  2. Get a Wallet: Download a software wallet that can work with Uniswap, such as MetaMask. Experts recommend using a hardware wallet for added security.
  3. Buy Ethereum: Purchase Ethereum (ETH) to use for trading.
  4. Transfer to Wallet: Transfer your ETH to your wallet.
  5. Trade on Uniswap: Link your wallet to Uniswap and trade your ETH for Akita Inu.
Governance and DAO

Akita Inu has a decentralized autonomous organization (DAO) on Avalanche, which allows for community governance. The DAO is based on the gAKITA token, backed by AKITA-wAVAX LP tokens in the treasury. There are two ways to participate in the DAO: staking and minting.

  • Staking: Stake your gAKITA tokens to earn more gAKITA tokens. Stakers benefit from supply increases and autocompounding balances.
  • Minting: Mint gAKITA tokens by exchanging discounted gAKITA tokens for LP tokens or gAKITA tokens after a set vesting period. Minters benefit from price stability and a guaranteed return at a predetermined period.
Benefits and Risks

Akita Inu offers several benefits, including:

  • Decentralized Governance: The DAO allows for community involvement in decision-making.
  • Liquidity: The token's presence on Uniswap ensures liquidity.
  • Potential for Growth: As a relatively new token, Akita Inu has the potential to grow in value.

However, there are also risks involved, such as:

  • Market Volatility: Cryptocurrency markets are known for their volatility, which can lead to price fluctuations.
  • Security Risks: As with any cryptocurrency, there is a risk of hacking and security breaches.
Price Performance and Prediction

Akita Inu has experienced significant price fluctuations since its launch. According to recent predictions, the price of Akita Inu is expected to rise by 229.65% and reach $0.006114 by July 18, 2024. However, it is essential to keep in mind that cryptocurrency markets are highly unpredictable, and prices can change rapidly.

In summary, Akita Inu is a decentralized token with a strong focus on community governance and liquidity. While it offers potential for growth, it is crucial to understand the risks involved and stay informed about market trends.

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Akita Inu's strengths

Akita Inu (AKITA) has several strengths that contribute to its popularity and growth:

  1. Strong Community: Akita Inu has a very active and engaged community, which is one of the biggest strengths of any crypto project. This community has been instrumental in driving the project's growth and adoption, with over 100,000 holders from 60 countries and a strong presence on social media platforms like Reddit and Telegram.

  2. Decentralized Governance: Akita Inu operates as a decentralized autonomous organization (DAO), allowing token holders to participate in governance through the HACHI token. This decentralized governance model empowers the community to propose and vote on improvements, ensuring that the project is truly community-owned.

  3. Meme Coin Appeal: As a meme coin, Akita Inu has managed to attract a large following and create a sense of fun and camaraderie among its holders. This appeal has helped to drive adoption and attract new users to the project.

  1. Availability on Multiple Exchanges: Akita Inu is listed on several popular exchanges, including Uniswap, MXC, HotBit, Poloniex, and BKEX, making it easily accessible to a wide range of investors.

  2. Innovative Tokenomics: The project's tokenomics are designed to incentivize participation and engagement. For example, the DAO's reserve currency protocol on Avalanche is based on the gAKITA token, which is backed by AKITA-wAVAX LP tokens and has an intrinsic value that cannot fall below a certain level.

These strengths have contributed to Akita Inu's rapid growth and its ability to attract a large and dedicated community of supporters.

Akita Inu's risks

Akita Inu (AKITA) is considered a moderate-risk investment, according to InvestorsObserver research. This assessment is based on the token's price manipulation potential, recent volume and market capitalization changes, and other factors. Portfolio managers who prioritize risk assessment will find AKITA to be a medium-risk investment.

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Did Akita Inu raise funds?

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Akita Inu’s team

  • Team Members: The team behind Akita Inu (AKITA) includes the original developers who launched the token, as well as the community members who took over the project after the initial "rug-pull" incident. The community team members are currently involved in maintaining and developing the project, including bridging it to the Avalanche blockchain.

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