Avalanche Foundation to Buy Meme Coins to Support Innovation and Community Spirit
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The Avalanche Foundation will purchase a collection of Avalanche-based meme coins as part of its "Culture Catalyst" program to support creativity and innovation.
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Meme coin selection will be based on holders, liquidity, maturity, fair launch principles, and social sentiment.
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Avalanche Foundation says meme coins represent collective spirit and interests of crypto communities, beyond just utility.
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Prices of some Avalanche meme coins like Husky Avax and Coq Inu rose 10-60% following the announcement.
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The Foundation's Culture Catalyst aims to empower creators, spark innovation, and drive blockchain adoption more broadly.