The Avalanche Foundation, which supports the Avalanche blockchain ecosystem, said it is considering buying meme coins as part of a drive that recognizes the distinct niches of the cryptocurrency market. Avalanche-based meme coins like COQ, husky and shibx have gained as much as 25% in the last 24 hours, with most of those gains coming after the foundation’s announcement. The selection process will be based on criteria such as the number of holders, liquidity thresholds, project maturity and overall social sentiment, the foundation said in a post on X. “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,” the post read.

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Author: Jamie Crawley, Omkar Godbole

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