A centralized exchange listing is often a major price catalyst for any crypto project, especially an early-stage coin with few places to trade it.
Thanks to a listing on the Bitget exchange and an ongoing $23,000 airdrop, the El Hippo meme coin has reached new heights and beaten a monthly high, now testing its all-time high, which was reached in August.
With a $6.5 million market cap, the project could increase tremendously and still be worth less than Dogecoin, and because of the small-cap, many analysts have taken an interest in the project’s upward price trajectory.
El Hippo (HIPP) Explained
El Hippo is a young meme coin formed in August that hit an all-time high of $0.92 within weeks of launch. The project focuses on rewarding its users with regular airdrops and funded meme contests, creating a loyal fanbase eager to make and distribute humorous hippo-themed memes and videos online.
The strategy has worked like a charm, not only raising the brand awareness of the project but also fostering a community that seems to genuinely enjoy the onslaught of memes it creates every day. Many users have even used an El Hippo profile picture generator to show their allegiance online.
El Hippo now has 10,000 token holders and 100,000 followers across social media platforms, with more people learning about the project every day. However, as a small-cap project, El Hippo is still in the early stages, with a market cap of just $6.5 million. Users have enjoyed 265% gains since launch and 70% monthly gains since the beginning of November.
El Hippo Price Action
El Hippo is trading now at $0.0000000089, firmly testing its all-time high of $0.0000000092. If it can break past resistance around $0.000000009, the project could see a major upward breakout, as indicated by the slow and steady growth seen on the monthly chart above.
When a project builds an upward trend gradually by establishing support and consolidating for a time before moving on to higher highs, this is typically seen as more sustainable growth than a mere upward spike, and this is the kind of behavior seen on the charts today.
HIPP has established strong support at $0.0000000084, $0.000000008, and $0.0000000074, leading many analysts to speculate about whether the project is entering a bull run.
El Hippo Aidrop and Listing
Of course, if anything could trigger a bull run, that may as well be a $23,000 airdrop following a major exchange listing. HIPP is due to be listed on Bitget on November 28, and those with net deposits of $50 HIPP (i.e., $50 more deposited than withdrawn) can receive a reward as well as a free t-shirt.
The team is also distributing $1,400 to its users via Zealy. Typically, the El Hippo community receives $700 every two weeks, but the reward has been doubled to celebrate the Bitget listing.
Users can buy HIPP via Uniswap or with a direct fiat transfer of 14 currencies through the El Hippo website and trade it on Metamask, Uniswap, Trust Wallet, Bitget, and MEXC.
Finding Young Meme Coins
HIPP appeals to users looking for the next SHIB or PEPE due to its young age and small market cap. Small-cap coins are believed by many to have a high potential to explode compared to large-cap coins, but they also carry a higher risk than larger coins due to their inherent volatility, as the price can see major price swings in either direction compared to larger coins with more stable prices.
As always, users would do well to trade and invest responsibly and practice risk management every step of the way.
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