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As the cryptocurrency industry sails on in a continuous state of confusion and fear, the speculation of a long crypto winter and an overall bearish sentiment in global markets have been putting off a lot of investors. The top cryptocurrencies that seem to be following a stagnant price pattern are being traded at lower volumes.
However, the one category of cryptocurrencies that seems to be unbothered by the condition of the market is memecoins. While these may have been severely criticized in the past for lack of utility and other similar reasons, the interest in memecoins has not dropped. In fact, there are several instances of quick 2x spikes even in this market condition.
Surely, a majority of memecoins have vanished, thanks to the bear market. But Dogecash, one of the tokens that managed to survive, has been gaining traction for its quick spike in prices as the token moved from around $0.015 to more than $0.035 till last week within this month alone.
The token has, however, corrected to lower price levels at the time of writing.
What is Dogecash?
Created as an apparent superior to its predecessor Dogecoin, Dogecash was created to function as a payments system for the users. The project is an approach towards a transparent, community-governed cryptocurrency that could be utilised by various institutions and platforms.
The developer team consists of a group of individuals of which, only some have revealed identities. Claiming to be a platform that can provide the best services available in the market, Dogecash managed to target a considerable amount of cryptocurrency investors and was successful in making them a part of their community.
With around 59,000 wallets created and affiliations with several organizations, Dogecash has positioned itself as a long-standing cryptocurrency project that managed to survive amidst the crashes in the market. The prime features of the project include:
- A self-governance structure
- A strong privacy protocol
- Environment-friendly approach
- User rewarding Economy
The codebase for the contract code was built by referring to PIVX, which is a decentralized, MIT-licensed open source blockchain project. Due to this, DOGEC; the native token of the Dogecash ecosystem is a POS/master node token that rewards active holders of the project.
For the same reason, it boasts of a minimal consumption of energy, as opposed to high energy consuming proof-of-work tokens like Bitcoin.
Is There a Potential for Further Growth?
Dogecash has been a project that has been around for more than 3 years now. During this time, it has made heavy contributions to the community in the form of airdrops or rewards. The project also gained popularity due to its philanthropic efforts for several animal-based charity organizations.
While these definitely sound great, it cannot be denied that the token has been in a stagnant state of growth in terms of community strength or infrastructure. Since 2018, there have been several meme-based projects that have been released which offer the same functionality and are devoid of any major utility.
Thus, while the project may be facing some volatility and price hikes lately, it is highly likely that the price may stay at the same levels or stoop lower with time.
Is There an Alternative?
Sure enough, a memecoin status sets the stage for immense popularity. But it is futile in the long term if the project does not feature strong fundamentals or utility. However, Tamadoge, one of the latest cryptocurrency projects to be introduced this year has been seeking traction for having both the features mentioned above.
The project is the latest entrant to the famous Doge-ecosystem, which attracted a huge community of memecoin-fans. At the same time, it’s a P2E platform that is set to feature several NFT-based blockchain games that shall be integrated with the metaverse, making it a project that boasts of a strong use case.
Currently nearing the end of its presale phase, the Tamadoge ecosystem has already managed to sell more than $2 million worth of TAMA tokens. Expected to launch sometime in the Q4 of 2022, the project is being trusted by a majority of the cryptocurrency masses, thanks to its fully audited contract code and verified team.
The project has already managed to create a strong and vast community since its introduction and states it is set to become one of the top-grossing memecoins post-launch. You can read the full roadmap and whitepaper at buy.tamadoge.io.
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