What Is HarryPotterObamaInu (INU)?
Like other meme coins, HarryPotterObamaInu is solely focused on entertainment and is not meant to be a serious investment vehicle.
Launched in August 2023, the project is an interesting blend of the hugely successful Harry Potter movie series and the popularity of the United States’ first black president, Barack Obama.
In this parody universe, both Harry Potter and Barack Obama are expected to play crucial roles where Harry Potter and Barack Obama meet in a spellbindingly absurd universe.
However, they’re not alone in this fun story. Popular Japanese canine mascots, Shiba Inus, are financial advisors in this absurdly devised world.
In this world, magic spells and political talk come together to create the INU token – a decentralized currency that holds no intrinsic value and is only meant for fun-themed exploits.
HarryPorterObamaInu’s Strong Start to Life
HarryPorterObamaInu has swiftly gained momentum and emerged as one of the fastest-rising meme coins in the crypto space.
Since its debut, its native INU token has surged to a market capitalization exceeding $1.1 million. Although this figure may seem modest compared to well-known meme coins like Dogecoin, Shiba Inu, and Pepe Coin, it represents a robust start for the project.
To put it in perspective, it took PEPE approximately three weeks from its mid-April launch to attain a market valuation of $1.6 billion.
While HarryPotterObamaInu may not experience such widespread acceptance, its impressive price trajectory provides ample optimism for a strong market presence.
Its INU token reached its peak price on September 4th, hitting an all-time high (ATH) of $0.0008948. This marks an extraordinary 551.52% increase from its all-time low (ATL) of $0.0001268, recorded 11 days prior.
In addition, the INU token has risen by over 286% since it began trading in August 2023. The project has already secured a listing on the CoinMarketCap platform, further solidifying its presence in the cryptocurrency landscape.
All the 1 billion INU tokens are in circulation at the time of writing. The token has already found its way into the portfolios of approximately 9,300 crypto investors. This points to the widespread popularity and demand the INU token is experiencing.
Key tokenomics details include:
- Contract address: 0x8423B76BE8ef6CA7400a6b4c334d29C1D5d4572c
- Total token supply: 1,000,000,000
- Circulating supply: 1,000,000,000
- Security: Caged and ownerless
- Taxes: None
Is INU a Good Investment?
HarryPotterObamaInu is a parody coin by nature. So, is it a good investment to tap into?
The answer isn’t straightforward; it is a nuanced yes and no. This mixed response stems from a principal reason – parody coins are gaining acceptance despite the absence of underlying economic factors.
For instance, the Pepe Coin project witnessed an astonishing surge in under a month. However, it later experienced a significant drop. HarryPotterObamaInu could follow a similar path if it cultivates a robust decentralized community for support.
Nevertheless, this is a highly risky venture if it is meant for the long term. Meme coins are highly volatile as their price swings sporadically due to their lack of a fundamental base.
Hence, HarryPotterObamaInu should only be tapped into for the fun of being part of a community and not for the financial gains it might yield down the line.
How to Buy HarryPotterObamaInu’s INU Token?
HarryPotterObamaInu is still in its early stages, which means that potential investors have limited options for buying and selling this digital asset.
At present, it’s available on the well-known Ethereum-based decentralized exchange (DEX) platform UniSwap version 2 (V2), as well as IndoEx.
However, this digital token can only be traded against the Wrapped Ether (wETH) token. This means investors must possess the required trading pair, wETH, to access the INU asset.
It enjoys a “high” confidence level and is highly liquid, scoring 258. Liquidity refers to the ease with which an asset can be bought and sold without significant hurdles.
The INU token is not just limited to the DEX ecosystem. Crypto investors more familiar with centralized crypto platforms can trade INU on the IndoEx exchange.
On the platform, INU enjoys a “moderate” confidence level and a low liquidity score of one. INU token is only supported with the popular USDT stablecoin on the IndoEx exchange.
Meme coins like HarryPorterObamaInu blow hot and cold several times within a year. This is due to the lack of intrinsic fundamentals backing them.
They prioritize short-term gains for eager investors to buy low and sell high. This often makes them an impractical convoy for long-term holdings.
However, some meme coins like Pepe have largely redefined the ecosystem in which they operate. This could be the case with the HarryPorterObamaInu project.
Given the popularity of the Harry Potter movie series and Barack Obama, HarryPorterObamaInu has the potential to climb the ranks within the global meme coin space.