October saw DOGE step out of its niche and jump 100%. The best month since the start of the bear market ! A big bite against Bitcoin (+5.5%) and Ethereum (+18%). The umpteenth shot also confirms this pump Dogecoin is still just speculative, ready for flights that fall (almost) as fast. And that there are certainly better alternatives among emerging cryptos.
A $1 Dogecoin?
Let’s say right away, this is a very unlikely scenario. DOGE would capitalize $1 more than $132.6 billion. Its capitalization close to that of Ethereum at the current price, and higher than the combined capitalization Tether USD (USDT) andUSD coin (USDC)!
Not to mention what that would mean in terms of credibility for the crypto market. Is it desirable to meme corner, no real use, and as nice as it is, or as much as the historical blockchain projects are worth? To temper expectations, let’s look at two major structural deficiencies of DOGE.
The Dogecoin network has no technical advantage
At the time of writing, DOGE’s trading volume is more than $3 billion. But nothing, in his use casenor in the characteristics of a blockchain, does not justify such a trading volume. DOGE is very speculative, and that’s the problem.
The community was delighted that the Dogecoin Foundation revealed a roadmap in December 2021. The first, in eight years of her life. This sets out 8 projects, the most important of which are:
- LibDogecoin : a library (meaning: software library) for development in C language. It must allow developers to create applications compatible with the Dogecoin protocol.
- GigaWallet : a secure gateway for DOGE payment solutions. It will allow any merchant site to add DOGE crypto wallet to accepted cryptos.
- Proof of Stake : Like Ethereum (ETH), DOGE is planned to be a crypto like PoS. A transfer that Vitalik Buterin also requested last September, during the conference Messari Mainnet 2022.
But is that enough? Nothing less is certain. Especially since the DOGE is extremely concentrated. 98 wallets hold 66% of the tokens. Major obstacle – invincible? – for one democratization true. Gait that Elon Musk has already demonstrated:
Virality around Dogecoin is largely speculative
October was the the best month DOGE (+100%) since the start of the bear market. Heat stroke is closely related to Twitter takeover with Elon Musk for $44 billion. Because the hype around Dogecoin is inseparable from the founder of Tesla. With every new tweet mentioning crypto, we are witnessing a pump…or a dump.
Here again, this is another problem with Dogecoin: its success is fundamentally based on a virality (Reddit and Twitter, where it has more followers than Ethereum!). A hype that will not last forever.
Elon Musk certainly has a lot of eyes on him right now. Some of them believed hard and hung on DOGE’s announcement as one of the cryptocurrencies that Twitter accepts. In the past, he has joked about charging 0.10 DOGE per tweet. His commitment and joining the Board of Directors of the Dogecoin Foundation (alongside Vitalik Buterin, one of the fathers of Ethereum) are all signs in this direction.
Dogecoin could continue its upward performance if that happens. We have seen many people investing for less than that. Take this tweet from Elon Musk last January, where he posts a photomontage of a fictional magazine called “Dogue” (punk on “Vogue”). +800% in a few hours …
— Elon Musk (@elonmusk) January 28, 2021
However, as we have seen time and time again, DOGE and coin memes fall as quickly as they rise. In the end, you have to ask yourself: êAre you in crypto for such random wins? Or are you into encryption for more basic purposes? Invest accordingly…
Our 3 alternatives to DOGE
For our part, we keep an eye on emerging projects. Traditionally, more quality projects develop in time bear market. Bad ideas find it difficult to finance themselves, and bad projects abandoned by the public no longer receive cash. Therefore our selection criterion is theenthusiasm generated by the ICO. In this game, 3 projects seem to have potential: Calvaria (RIA), Dash 2 Trade (D2T) and the exciting IMPT.io (IMPT).
ATR, the token of the NFT game Calvaria: Duels Of Eternity
- Project type: NFT game, “play to earn” type.
- Blockchain: Ethereum
- ICO: calvaria.io (1 RIA = $0.025)
Calvaria: remember the name because you could talk about the game, which was scheduled for early 2023. This is a collectible card game, which trading card game. He draws his inspiration from the card game Firestonepublished by Blizzard, and i Magic: The Assemblya more traditional card game.
For those who don’t know, this type of game is played with a deck of cards. In a 1v1 duel, you have to throw them, but not just anyway. You have to create synergies to produce spells, weapons and all kinds of attacks.
A beta version it will be available around January or February. The first cards, in NFT format, will be sold on KuCoin, Gate.io and XT.com. However, you will need ATR tokens to get them. So don’t wait too long to buy your first one ATRthe project’s ICO is proceeding at full speed on calvaria.io.
Crypto-assets are a risky investment.
D2T, the future token “Bloomberg terminal” of Dash 2 Trade cryptos
- Project type: software system
- Blockchain: Ethereum
- ICO: dash2trade.com (1 D2T = $0.0533)
The Dash 2 Trade project appeals because it fulfills a real need among crypto investors:market observation. Dash 2 Trade plans to unveil a unique software solution in 2023, which will centralize on-chain information and technical price signals.
Dash 2 Trade – Platform Overview
This is a reminder of the tool recently Datanomya crypto database jointly launched by Goldman Sachs bank with the help of blockchain analysis firm Coin Metrics and MSCI.
Dash 2 Trade will be available in 3 subscriptions: Free (free), Starter and Premium. Monthly subscriptions will be payable i D2T signals. So enjoy the ICO on dash2trade.com Accumulate D2T and pay your subscription in 2023.
Crypto-assets are a risky investment.
IMPT, the token of the IMPT.io carbon credit platform
- Project type: signaling of carbon credits
- Blockchain: Ethereum
- ICO: impt.io (1 IMPT = $0.023)
With the IMPT.io project, we are interested in a very active market niche: carbon credits in tokenized form. a niche recently highlighted by KlimaDAO (KLIMA). IMPT.io wants to offer something different.
The first a project funding platform. Type of exhibition for certified projects: environmental NGOs, waste management companies, renewable energy producers, etc. They will be able to be “funded” with IMPT tokens. In return, and depending on the contribution, you will receive a carbon credit. Remember that 1 carbon credit = 1 tonne of CO2 equivalent.
Then a e-commerce space. 10,000 brands are expected there. Each will sell its products in IMPT tokens. Part of the income generated through the platform will be allocated to the funding of the aforementioned projects. The idea is therefore that big brands can “automate” their ecologically responsible policy with the help of IMPT.io. If you are interested, you still have time to buy your first IMPT tokens on tax.io.
Crypto-assets are a risky investment.
