Coq Inu (COQ), a meme coin introduced on the Avalanche blockchain a few weeks ago, has experienced a surge of 4,300% since its debut in early December, riding the recent bullish trend in the overall market.

With Coq Inu pushing prices up, the biggest question on everyone's minds is - when will loyal supporters of the AVAX chain get their airdrop and a piece of the action?

Launched on December 7, Coq Inu swiftly garnered attention within the crypto community, displaying a consistent upward trajectory in its trading performance.

Market Performance

Over the last 24 hours, COQ has recorded a 55% increase, as reported by CoinGecko.

Avalanche, the blockchain platform underpinning Coq Inu, is renowned for its high-performance and scalable architecture, thanks to its Avalanche consensus mechanism, which ensures fast transaction finality and supports various decentralised applications, including meme coins like Coq Inu.

Maintaining a steady growth pattern, Coq Inu faced minimal pullbacks, with a noticable intraday spike on December 10, surging by 101% to reach a peak of $0.000000495, marking its all-time high at that point.

Despite a subsequent 24% decline in value within a day, Coq Inu managed to recover, achieving a new all-time high of $0.00000398 and demonstrating resilience against bearish pressures.

Whales Profit

Investors, often referred to as "whales," have profited significantly from Coq Inu's performance.

Lookonchain, a blockchain surveillance system, reports a 60,000% rise since the coin's inception, with one investor purchasing 4.8 trillion COQ with approximately $500dollars on the first trading day.

The tokens are now valued at $2.2 million.

In its early stages, Coq Inu aspires to follow a trajectory similar to Pepecoin (PEPE), which achieved a holder count of 1,100 and a trading volume of $1 million shortly after launch.

"Shitcoin" Launch

However, it is crucial to note the creators' stance on COQ.

On their website, they openly describe COQ as a "shitcoin," emphasizing its lack of intrinsic value and highlighting its sole purpose for entertainment.

$COQ is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.

Earlier this year, PEPE made headlines with a 250% gain in a single day, followed by the Solana-based meme coin BONK's over 500% rise in just two weeks at the beginning of this month.

Neither of these meme coins currently holds a position in the trending list, suggesting that Coq Inu may also face a similar fate and potentially be overlooked in the near future.

Potential Airdrop

The Avalanche chain has been seeing quite a lot of action recently, with a significant amount of transaction volume moving towards inscription based tokens.

Airdrops in memecoins are not unheard of - traders in Solana's BONK received an airdrop if they had bought the Solana Web3 smartphone.

That $10 worth of BONK eventually became worth more than $300.

The increase in Coq Inu's popularity may suggest a greater emphasis on marketing, and we have seen an increase in what Coq Inu calls Bokcasts on X.

It is likely that if tokens are ever going to be airdropped or at least won, it will be through these official podcast channels.

Coinlive will continue to keep a keen eye on the Coq Inu project, and update here immediately should there be an airdrop announced for the coming weeks.