On the 15th, the Avalanche Foundation, which supports the cryptocurrency AVAX ecosystem, revealed five types of meme coins held by the organization.
This was announced in January as part of an initiative called “Culture Catalyst,” which aims to revitalize and promote the Avalanche community. This initiative aims to strengthen community cohesion and promote activity through the purchase of meme coins, also known as “community coins.”
The five coins released are Coq Inu, Gecko, Kimbo, NoChill, and Tech, which are said to “reflect the diversity, fun, uniqueness, and interests of the crypto community.” The total market capitalization is approximately $541 million.
Among these, Coq Inu accounts for over 74% of the total market capitalization. Coq Inu has a total supply of 69.42 trillion tokens, and its popularity stems from its chicken mascot and the humorous name Coq, which means “rooster” in French.
Gecko, whose mascot is a cartoon lizard, originated from the Vietnamese community. Kimbo is featured as a community Web3 dog exploring the Avalanche ecosystem. NoChill is a meme coin that takes inspiration from slang words that describe various social situations such as reckless behavior, restlessness, etc.
Tech is named after a saying popular within the crypto community: “We are in it for the tech” (we are fascinated by technology without worrying about price). A tweet from Emin Gün Sirer, CEO of Ava Labs, attracted attention.