Dogecoin vs EverGrow Coin- Does Crypto Need Celebrities To Make ROI?

The need for crypto celebrities like Elon Musk to promote meme coins like Dogecoin

All top 20 crypto tokens will be offline on April 6, except Dogecoin. DOGE is up 6.6% in the last 24 hours. But it is not related to any particular tokenomics or utility drops.

Elon Musk, CEO of Tesla, is largely due to the popularity of Dogecoin. This is true today as well as last year when DOGE grew 1.060% in the month of April, reaching an all-time high of $0.7376 in early May. The price increase helped save Dogecoin’s first millionaire, the so-called SlumDOGE Millionaire.

Dogecoin may be a fantastic headline maker, but it can easily lead crypto newbies to believe that cryptocurrencies need media attention to make your ROI pay off. It is worth exploring new projects at this point (Dogecoin launched in 2013) that aim to generate ROI without the need for new investors to push the price of a token up, such as EverGrow Coin

No celebrity adoptions, no tweets, no memes, just pure tokenomics. This next move in crypto is quickly challenging the status quo in 2022.

Meme Coins vs Reflection Coins

Meme coins like Dogecoin and Shiba Inu had a stunning run in 2021, with DOGE jumping from $0.008 in January to its all-time high of $0.736 in May. During that time, Dogecoin’s market cap grew from $500 million to $84 billion. Think about that: a multi-billion dollar project based on a funny photo of a Japanese dog.

Tweets from Elon Musk calling Dogecoin the “people’s crypto” and its “fav” token helped boost DOGE last year. Mark Cuban, investor and owner of the Dallas Mavericks NBA team, also tweeted that DOGE called it a token that “people actually use.” At the same time, however, CBNC analysts reported calling Dogecoin a “bubble” in the crypto market.

Indeed, Dogecoin failed to hit a new record in November, among other top crypto tokens. In part this may be because new meme coins like Shiba Inu have appeared, but also because Dogecoin hasn’t actually achieved much more merchant adoption than Tesla Inc – where you can use DOGE to buy merchandise, such as a quad bike for kids

Investors looking to buy Dogecoin in 2022 should look at its long-term opportunities or further merchant adoption before taking FOMO off the headlines.

Crypto that ‘self-generates’ its own rewards

One of the latest trends in cryptocurrencies is reflection tokens. The most famous reflection token, SafeMoon, was launched last year with tokenomics levying 10% tax on all SAFEMON transactions. This tax is immediately distributed to investors’ wallets as a reflection.

Reflection tokens simplify the process of creating wealth from crypto because you don’t have to worry about selling when the market is at its peak. However, price swings still depend on new investors learning about the project and buying in.

EverGrow Coin is one of the most ambitious reflection tokens that aspires to be the first token to “self-generate” its own rewards for investors. EverGrow Coin chairman, top European investment advisor Sam Kelly, explained in a: Tweet how the EGC token was ‘not designed as currency’.

Kelly said the main use case for EverGrow Coin saw it as a stake in an ecosystem of monetization applications. Profits are used to buy and burn EGC tokens, to drive up prices or hand out 100% as an extra reward when the market grows. EverGrow Coin Generates Profits From Its NFT Marketplace And Content Subscription Platform Called Crator – Though It Will Join Soon The abstract metavers.

EverGrow Coin like SafeMoon charges transaction tax (14% instead of 10%), although it pays out BUSD stablecoin reflections – not the original EGC token. To date, it has paid more than $35.8 million to investors in ROI totally unrelated to price fluctuations.

Conclusion

The world of crypto moves fast, and having the right sense of where the market is headed is invaluable for investors looking to maximize their ROI. While meme coins dominated 2021, it’s worth asking yourself: Can it do the same thing again? Dogecoin is fortunate to have celebrities like Elon Musk and Mark Cuban backing the project, but reflection tokens that nearly replicate stocks and dividends are working hard to price tokenomics over hype.

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Analytics Insight


Analytics Insight is an influential platform dedicated to insights, trends and opinions from the world of data-driven technologies. It tracks developments, recognition and performance of companies in the fields of artificial intelligence, big data and analytics around the world.

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