In the age of cryptocurrencies, a visit to Coinmarketcap or CoinGecko will net you thousands of tokens, with new ones popping up everyday. Most of them are either rubbish tokens with no valid foundation, a transparent pump-and-dump scam or a token minted by a hobbyist with no clear direction for growth.
It’s rare to come across a new token that has the clarity, backing and track record that might actually launch the token to the elusive stratosphere of profitability for all investors.
Dogemama could be that token.
Doge mama launched late August. It wasn’t heavily promoted by crypto influencers like other pump and dump projects. But the response was astounding. They achieved a 450% increase over 4 days and the momentum seems to be going strong.
How is Dogemama Different?
- The Tokenomics
Dogemama has a deflationary tokenomic model, which is similar to “SafeMoon”, another successful crypto token. In layman’s terms, this means that every time an amount of Dogemama (DM) is used, a small portion of that is kept and distributed evenly to all the holders of Dogemama, improving the liquidity as well. This type of tokenomics ensures that the token cannot and will not be disproportionally affected by a few large token holders. One such example of a lop-sided token would be Dogecoin. The biggest holders of Dogecoin are 11 anonymous addresses. Any selling frenzy by these group will negatively impact the whole community gravely.
- The Technology
Dogemama is built on Binance’s own BSC (Binance Smart Chain). What benefits does that include over other frameworks like Ethereum (ETH)? Well, Binance DEX has over 194 BEP-2 assets and 139 trading pairs. On top of that, Binance Chain has pegged major cryptocurrency tokens from the likes of Bitcoin to Litecoin, Tron, Ethereum. This greatly improves the connections and possibilities for the DeFi ecosystem.
Besides that, BSC has one of the lowest transaction fees in the industry. Ethereum transaction fees are notoriously expensive, periodically one transaction can cost up to $50 or more. Compared to that, Binance Smart Chain has a gas fee that is almost 15 times lower. This lowers the barrier of entry and increases the usage by normal users. This ensures developers are able to focus on building solutions and innovate rather than worry about the ecosystem pushing users away.
- The Track Record
Even though Dogemama recently launched, its track performance is very impressive. Normally for new launched the first few days will see a huge spike, and then a huge drop after due to lots of people selling the token to cash out. In Dogemama’s case, the rise is consistent, stable and optimistic. The investors and buyers are holding to the token and believing in the long term and future growth of the token.
- The Future
Dogemama’s website here listed a few noteworthy plans in the near future. They have a strong charitable cause in donating to reputable organisations that support Single mothers. They also have an impressive plan of creating their own NFT marketplace that will allow users to mint and transact NFTs using their DM token. This is huge as the NFT marketplace is just starting to boom. If they can pull it off, it will definitely solidify DM tokens as a legitimate token and increase their value exponentially.
It’s very important to take any new cryptocurrency with a grain of salt, especially when you’re deciding to invest or otherwise. I will be updating this post as time progresses and report on Dogemama extensively. There are multiple reputable media mentions of Dogemama as well, so do your due diligence before you invest.
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