Key Takeaways:
- Coq Inu (COQ), launched on the Avalanche blockchain in December 2023, is a meme coin with a rooster theme.
- Its tokenomics include a total supply of 69.420 trillion tokens, with no presale or fixed allocations.
- The token boasts features like a fixed supply, zero transaction fees, and transparent token holdings.
- Like many meme coins, COQ has no utility and is a purely speculative token rooted in community engagement.
What Is Coq Inu (COQ)?
Coq Inu, a newer meme coin featuring a rooster (‘coq’ in French), launched on the Avalanche blockchain on 7 December 2023. COQ’s journey to an over US$276 million market cap within less than two weeks of launch quickly captured the attention of the cryptocurrency space.
At its all-time high (ATH) on 13 March 2024, COQ soared to well over 5,000% of its launch price. Its listing on centralised exchanges, including Crypto.com, has further led to increased interest from the wider crypto community. With the achievement of these milestones, Coq Inu seems to have established itself as one of the leading meme coins of 2024.
See Coq Inu’s current price and recent price charts.
Read on for more details on Coq Inu’s tokenomics, community, and how to buy this meme coin on Crypto.com.
How Does Coq Inu Work? Does It Have Any Utility?
Coq Inu runs on the Avalanche blockchain and can be swapped for AVAX or purchased with fiat currency via centralised exchanges (e.g., in the Crypto.com App). The COQ meme coin does not have any utility beyond its status as a meme, primarily serving traders who hold it in their wallets with hopes of token price appreciation.
The Coq Inu website further states: “$COQ is a community coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap.”
Coq Inu Tokenomics
Like most meme coins, Coq Inu’s tokenomics are plain and simple: The token has a total supply of 69.420 trillion tokens and a circulating supply of 999.98 million. The team leverages a 0% transaction tax on the token, so users can engage in transactions without incurring additional fees from the project.
In addition, the team emphasises that there are no token allocations to any specific party and no presale before the token launched. This is an important part of the community-based meme coin project. Many meme coins offer exclusive token presale or pre-allocation only accessible to a few individuals.
These individuals were presented with the opportunity to ‘get in early’ on a token before it became available to the general public, allowing them to potentially buy at the lowest possible price. Typically, when a meme coin gets listed on exchanges, its price tends to rise due to increased demand. Nevertheless, the team behind Coq Inu wanted to give everyone an equal chance at acquiring their token during the 7 December launch.
Coq Inu Community
While COQ might offer no blockchain utility, it does come with an ambitious setup for a community ecosystem.
The token has been listed on a large number of decentralised exchanges (DEXs) and CEXs early on and is also part of several decentralised finance (DeFi) projects, including SteakHut Finance and CapyVault. Coq Inu holders were airdropped PePe Portraits NFTs, and several other NFT projects mentioned on its site, as aligned with the meme coin. Coq Inu merchandise is also available from vendors listed on the website, and more than half a dozen Coq-themed games have been launched so far.
Coq Inu also runs active community spaces on X (Twitter), Reddit, Telegram, TikTok, Instagram, and other platforms.
Why Is Coq Inu So Successful?
The success of meme coins like COQ can be attributed to the viral and engaging nature of meme-based cryptocurrencies. These coins are designed to capture the attention of enthusiastic online communities, often drawing inspiration from characters, individuals, animals, or artwork that can be mimicked — in this case, a French rooster, combined with the Japanese word ‘Inu’, which means dog — likely an homage to the highly successful array of dog meme coins like Shiba Inu.
Additionally, the low cost of entry and potential for substantial gains make meme coins attractive to many, despite their high volatility and speculative nature. In COQ’s case, opportune timing might have also been at play. The token launched in late 2023, just in time before the crypto market appeared to be turning bullish again.
How Much Will COQ Be in 2024?
Coq Inu had experienced a spectacular price appreciation in 2024 so far, with an all-time high (ATH) of $0.000006447 on 9 March 2024.
At the time of writing, COQ trades for $0.000004063, up over 5,600% from its launch price. The token is listed on several tier-1 crypto exchanges, including Crypto.com, which makes Coq Inu very accessible for retail traders. However, no one can say for sure what COQ’s price will be in the future.
How to Buy COQ With Crypto.com
Buying COQ with Crypto.com is easy. Many other meme coins, like Dogecoin (DOGE), dogwifhat (WIF), and BOOK OF MEME (BOME), are also listed in the Crypto.com App.
You can buy Coq Inu with USD, EUR, GBP, and 20-plus other fiat currencies or trade it for other cryptocurrencies, including BTH, ETH, SOL, USDC, and 250-plus more.
To start buying COQ today, download the Crypto.com App for free from the Apple App Store or Google Play Store. From there, you will be guided to the sign-up process, which takes only a few minutes to complete.
Once registered, you can charge your account via bank transfer, Apple Pay, or credit/debit card payment. While bank transfers might take 1-3 business days to process, Apple Pay and credit card payments are processed within seconds and ready to use for your first COQ purchase.
Conclusion — Should You Buy COQ?
In less than a year, Coq Inu has become one of the most successful meme coins in the Avalanche ecosystem. Within months, it registered price increases of over 6,000% and quickly attained popularity in the crypto space.
However, keep in mind that this meme coin primarily serves as a speculative asset with little utility. Its price volatility hinges solely on its popularity. While the price volatility of meme coins may entice many due to its potential for substantial gains, it also entails the risk of abrupt price declines.
Due Diligence and Do Your Own Research
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