A decade ago, the thought of currency based on a dog meme would have sounded absurd. And then came along Dogecoin in late 2013. Today, the top two meme-coins of Dogecoin and rival Shiba Inu command $20 billion and $16 billion in market cap respectively.
Dogecoin famously minted a millionaire during a bullish run last year. The 33-year-old investor, Glauber Contessoto, had invested all of his savings and stocks in DOGE just two months previously. But while a price increase of 18,000% might sound exciting it's not something even the most experienced investor can plan for.
DOGE is currently up 26% over the last seven days as its token price hits $0.15. As a memecoin built on Internet culture, the coin relies on being in the news. In this article we'll look at whether a crypto newcomer built instead on strong utilities – EverGrow Coin – could explode in price this 2022.
Dogecoin has become associated with Tesla CEO Elon Musk. DOGE's meteoric rise last Spring was associated with Musk writing Tweets about the crypto token, calling it his 'favourite'. Recently in February Tesla announced DOGE could be used to recharge a Tesla at the Santa Monica supercharging station.
Again this week Dogecoin saw a price increase of over 5% after Musk joked on Twitter about buying the social media network and swapping the bird logo for the infamous Doge meme. Dogecoin has also this week been added to the Bitcoin of America ATM operator, as well the trading app Voyager. In other news, the popular trading app Robinhood was discovered to hold almost $6 billion in Dogecoin – about 30% of the total.
Despite the good news for Dogecoin, analysts have pointed to a 'falling wedge' setup in DOGE's price movements. According to veteran investor Tom Bulkowksi, a falling wedge signals a 'poor performer' when predicting new bullish cycles.
EverGrow Coin has been making headlines recently as it announces two new applications to disrupt the cryptosphere. One of these is an NFT marketplace that allows borrowing against digital assets as collateral. This opens up a brand-new way for generating income from NFTs without selling them – and on the faster and cheaper BNB Chain rather than Ethereum.
The next application to drop imminently is Crator, the first serious content subscription platform that integrates crypto payments alongside fiat currency. Content creators can set different subscription tiers, toggle between free and paid-for live streaming and also facilitate tips for their content. The crypto integration will make payments fast and secure on blockchain technology, while a 5% commission is significantly lower than OnlyFans' 20% cut and Patreon's 9-12%.
These applications are designed to generate profit that's 100% pumped back into EverGrow Coin, either directly as rewards or into strategic coin burns. This adds to EverGrow Coin's reflection tokenomics that have paid over $35.5 million to investors in five months through a 14% transaction tax.
EverGrow Coin is a new crypto project with a market cap of just $230 million – well below Dogecoin's $20 billion. What Dogecoin has in media attention EverGrow Coin has in strong fundamentals. Investments are best when diversified, and these two projects represent competing sectors in the cryptosphere most likely to grow this 2022.
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