by Analytics Insight
Apr 20, 2022
Dogecoin is rapidly losing its touch with the EverGrow coin in April 2022
Dogecoin was the most unlikely currency to hit its first crypto millionaire in April of last year, but it is struggling to keep up with the pace in 2022. Dogecoin has lost 17.6% in price since the beginning of the year. Finally, the trend reverses with growth of 3.35% in the last 24 hours. EverGrow Coin has grown 10% in the past 24 hours, according to CoinMarketCap.
Expectations were high for Dogecoin after Elon Musk made a takeover bid on Twitter. Dogecoin has long been a favorite of the Tesla CEO, and its price soared to $0.17 after last week’s news. This has now fallen back to $0.14 as the hype fades.
In the meantime, EverGrow Coin has risen from last week’s lows of $0.00000037 to $0.00000041 today, April 19. Below we will look at the roadmaps for these two popular cryptocurrencies in 2022.
EverGrow Coin is a hyper-deflationary token that aims to consistently burn coins to drive prices up, even during bearish market cycles. A recent DigiFinex listing has given EverGrow Coin the highest 24-hour trading volumes throughout the year as the new platform facilitated access to new investors. Previously, the best place to buy EverGrow Coin was at Pancake Swap†
While many tokens rise and fall at the whim of the market, EverGrow Coin has built-in coin-burning mechanisms to take advantage of increased volume. The token charges a 14% transaction tax on buy-sell orders, with 2% set aside to strategically buy EGC and then burn those coins. With yesterday’s 24-hour trading volume exceeding $3 million, that means at least $60,000 has been accumulated to buy back and burn.
EverGrow Coin also rewards long-term investors, with 8% of the transaction tax paid out directly as BUSD stablecoin rewards. To date EverGrow Coin has paid out $36 million to investors.
With volume rising in April 2022, EverGrow Coin predicts burning $5 trillion EGC tokens per month – about 0.05% of the supply.
Dogecoin launched in 2013 from the back of the popular doge meme, featuring a Shiba Inu dog surrounded by Comic Sans text like “wow,” “so cool,” and “doge.” Last April there was a huge price rally that was influenced by Elon Musk’s vocal support for the coin on Twitter. When Elon Musk hosted a Saturday Night Live show, the price hit an all-time high of $0.7376.
Dogecoin is the 11th largest cryptocurrency by market cap, currently at over $18.61 billion. It is the most popular meme coin and well above Shiba Inu in 15th place in the CoinMarketCap rankings.
The price of Dogecoin has crashed about 80% from its all-time high and is currently trading at $0.1404. The crypto token relies heavily on news cycles and high-profile lenders. Robinhood CEO Vladimir Tenev recently suggested that Dogecoin could achieve its goal of becoming the people’s currency if it could increase its block times, currently at 1 minute.
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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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