Avalanche ventures into memecoins with KIMBO, COQ and more

The Avalanche Foundation, custodian of the Avalanche blockchain, unveil its investment in five handpicked Avalanche-based tokens.

On 14th March, the Avalanche Foundation, responsible for maintaining the Avalanche blockchain, announced its investment in five memecoins.

These tokens, introduced in recent months, have shown significant trading, with daily volumes in the millions. Following the disclosure by Avalanche, these memecoins surged by 60%, defying the broader market downturn.“Each community coin held by the Foundation meets the Foundation’s established eligibility guidelines for community coin projects.”, there has been a noticeable increase in trading volumes on Avalanche tokens, coinciding with a surge in the creation of new meme tokens.

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