Human Protocol spikes over 175% as Ski Mask Dog rallies 129%

The Human Protocol token is getting some extra love from crypto investors like Ski Mask Dog, the Camila Cabello-backed meme coin.

The Human Protocol (HMT) token is up 175% in value at last check on Saturday as it continues to gain traction in the market as it addresses both authentication challenges and data privacy concerns.

See below.

Source: CoinGecko Humanity Protocol’s $1 billion valuation

Humanity Protocol, a blockchain-based project, reached unicorn status with a $1 billion valuation in May. This milestone comes after raising $30 million in a seed round led by Kingsway Capital.

Its investors include Animoca Brands, Blockchain.com, Hashed and Shima Capital.

According to Humanity Protocol’s Medium post, the funds helped expand the team and develop products ahead of a public testnet launch in the second half of 2024.

🚀Big news alert! 🚀Our founder Terence became the center of attention at Bloomberg @businessWe’re announcing our latest funding round! 🌟

We have become crypto’s new digital identity unicorn! 🦄

Check out the full story of our $30 million raise at a $1 billion valuation: https://t.co/soy6PqZoFB…

— Humanity Protocol 🖐️ (@Humanityprot) May 15, 2024

The latest funding round comes just months after Humanity Protocol received strategic investment to build out the “human layer” for web3.

Multiple VC funds and individuals have joined the effort, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu.

Balaclava Dog

Ski Masked Dog (SKI) also saw an increase in traffic on Saturday, November 30.

See the table below.

Source: CoinGecko

Ski Dog Mask is built on Base, Coinbase’s Layer 2 blockchain. It has since gained attention for its community-focused approach, generating over $8 million in volume in 24 hours.

Reportedly abandoned by its developer, SKI was revived by its enthusiastic community, leading to an impressive increase in value and popularity.

The coin has shown resilience during broader declines in the crypto market, indicating strong investor confidence.

The stars are aligning

The project also benefited from support from notable individuals, including Base creator Jesse Pollak, who publicly praised and acquired SKI, as well as singer Camila Cabello.

The former “Fifth Harmony” member briefly used the SKI logo as her Instagram profile picture, increasing the coin’s visibility.

SKI also distinguishes itself through grassroots marketing and community creativity, manifesting as social media campaigns and memes that further increase its popularity.

The coin’s market cap exceeded $30 million, with daily trading volume reaching $2 million, indicating its growing traction. It exemplifies the rise of “social-first” meme coins that prioritize community engagement over traditional development roadmaps