Hachiko, another meme coin based on the famous Akita Inu, has achieved around a 55% rise in its market cap within 30 days, and various traders are considering it as a better investment option.
As the number of holders and traders is significantly low in this coin, we can assume that many investors will consider this a missed opportunity. But, is it really too late? The on-chain data shows that various people have purchased this token in previous hours.
This article will check how this coin gained this uptrend within a short period of time, and we will check whether it is a wise decision to purchase it now. Additionally, we will analyze the chart data to provide a price prediction. Let’s begin.
What is Hachiko Token?
You all will be familiar with Hachiko, the Akita Inu that waited for its owner daily in a railway station until its death. This meme coin is based on the same dog. It is a recent token and can be purchased through UniSwap DEX with WETH. Here are the basic token details:
Token Ticker | $HACHIKO |
Contract Address | 0x381491960c37b65862819cEd0e35385f04B2C78B |
Blockchain | Ethereum ERC-20 |
OnChain Market Cap | $48,941.39 |
Total Supply | 420,690,000,000 HACHIKO |
Total OnChain Token Holders | 578 holders |
Token Generation Date | 23 June 2024 |
The Reasons Behind the Recent Uptrend
First of all, Hachiko is a meme coin with a low market cap. So, even a small amount of investment will create a significant impact on the price. We can see around 50% rise in the past 30 days but the amount of money invested is compared to other popular meme coins.
When we consider the market cap, this sore is not significant, however, we should appreciate the fact that Hachiko managed to gain investors without much marketing and employing other tactics.
Factors that Influence the Price of HACHIKO
Various factors affect the chart of Hachiko. Let’s get into the details of market trends, community support, and external factors, and how these three factors influence the overall market cap of Hachiko.
- Market Trends: Regardless of the intrinsic use cases, meme coins always gain momentum when they start trending across the web3 environment. Hachiko, despite its interesting narrative, lacks proper promotions and social media campaigns to attract investors. This is an area that should be taken care of.
- Community Support: Hachiko is an emerging token, and it hasn’t yet gained a significant number of members in its community. The X (Twitter) handle and the Telegram channels have less amount of followers. This lack of community support will affect it in the long term.
- External Factors: Usually it is BTC who guides all other altcoins through the market. It is observed that when BTC reaches a certain upward position, the funds start moving to altcoins, including the meme market. So, the total behavior of the market will affect Hachiko despite its activities.
Hachiko Price Expectations: Short & Long-Term
The coin achieved its all-time high in June 2024, just after its Token Generation Event. However, even after 6 months of launch, it never managed to rise and create another all-time high. But the recent increase has created optimism.
If Hachiko gets strong support from the community and starts attracting institutional investors, we can see it beating various other meme coins. The short-term analysis shows that around November and December 2024, the token will gain traction.
The long-term expectations are complicated, as the token’s developers or the community haven’t yet released a roadmap. So, nobody knows what will happen in the coming years, however here is a prediction solely based on chart analysis. Be aware that chart data alone won’t be capable of predicting the exact movements of meme coins.
- 2025: $0.000000464
- 2026: $0.000000928
- 2027: $0.000001856
- 2028: $0.000003712
- 2029: $0.000007424
- 2030: $0.0000149
Conclusive Thoughts: Is it Too Late to Buy Hachiko?
The coin has already risen around 50% and for short-term traders, it is a missed opportunity. And there is no significant presence of this coin around the web3 media space. So, another uptrend in the coming months is doubtful.
Anyway, an opportunity is still there when the altcoin boom happens. The altcoin boom is expected to happen in the coming months, and naturally, funds will be flown into the coins except BTC.
The meme coin market is estimated to be around 60 billion dollars, and even a fraction of this investment arrives on Hachiko, it will pump. So, a better strategy is to invest an amount you can afford so that you will escape from the fear of missing out.