Avalanche Foundation Bets on Meme Coins, Sparking Price Spikes and Renewed Interest

Avalanche Foundation invests in 5 meme tokens - KIMBO, COQ, GEC, TECH, and NOCHILL - as part of an effort to support "community coins"
These meme coins saw significant trading volume and price jumps after the Foundation's investment
Avalanche refers to meme coins as representing the interests and uniqueness of crypto communities
Meme coins like COQ have seen huge returns for some traders, fueling further interest
Prominent blockchain teams investing in meme coins may be starting to change the stigma around them