MiniDoge – Musk’s Latest Favorite Coin, Or Another Pump And Dump?

MiniDoge ($MINIDOGE) is a hyper deflationary token that uses the Autoboost mechanism to buy back and burn tokens. This mechanism is designed to increase the value of the token over time.

MiniDoge is the native token of the MiniPets game, a play-to-earn adventure game on the blockchain. Players can earn MINIDOGE tokens by raising pets, exploring the DOGEWorld, and battling other players.

MiniDoge holders will also receive 40% of the revenue generated from MiniPets and all MiniGames in the form of BNB. This means that as the game grows in popularity, MINIDOGE holders will earn more rewards.

The coin is currently ranked #6555 on CoinMarketCap. The price of MINIDOGE has been on a downward trend in recent months, but it is still up significantly from its launch price.

The current price of MINIDOGE is $0.0000000006722. The 24-hour trading volume is $447, with a market capitalization of over $175,000. 

The best place to buy MiniDoge is on PancakeSwap v2 (BSC). You can also find it on other exchange platforms and swap stablecoins like ETH and BTC.

The Relationship Between Elon Musk and MINIDOGE

Since its inception, MINIDOGE as a meme coin has often been compared to DOGE, a popular meme coin constantly endorsed by Elon Musk.  

However, there is no evidence of the businessman voicing his support for the coin. Although, on a general note, Elon Musk has made certain comments concerning meme coins and even publicly owned up to accruing a few. 

It is worth noting that the coin has no real underlying value as a meme coin which means it is volatile and can easily be manipulated. 

Hence, with the influence of people, and big-time whales, the coin can undergo a pump and dump. In the meantime, experts are keeping their fingers crossed and careful to analyze what strides the coin can pull shortly. 

MINIDOGE: Analysing the Basic Features of the Coin

MiniDoge is a risky investment, just like any other cryptocurrency. It is a new project with a limited track record, and the price has been on a downward trend in recent months.

However, the project has some potential upside, some evident in its featured data. Below are key figures from Dextool that highlights the current information of MINIDOGE for potential investors:

Total liquidity: Being a new kid in the block, MiniDoge memecoin currently has a total liquidity of $26.61. 

24-hour volume: The current 24-hour trading volume of the memecoin stands at $2.55, indicating that there’s not been much activity in the network just yet.

Pooled WETH: The pooled Wrapped Ether (WETH) pegged with MiniDoge memecoin is recorded at 50.52. This indicated the extent of WETH liquidity traded with the MiniDoge coin.

Total Market Cap: The MiniDoge coin has an overall market capitalization of $185.06K. Thus, revealing the total value of the entire MiniDoge coins currently being distributed. 

Total Supply: MiniDoge has an overall supply of 261196.82 billion tokens, indicating an insight into the token’s scale and possible future developments. 

These figures can aid in analyzing the memecoin’s present performance and stability or potential for expansion within the crypto industry. 

Smart Analysis Tool Highlight Key Details of MINIDOGE

Important details about MINIDOGE, like its maximum token supply, the total number of transfers, and the current token holders, have been made available by Etherscan, a well-liked tool for examining and studying the Ethereum blockchain.

The maximum token supply of MINIDOGE is 1,000,000,000,000,000, according to information from Etherscan.

There are currently 83,614 token owners, and that number is steadily rising. The Etherscan platform shows that there have been 507,890 transfers overall.

The top 100 token holders on Etherscan are engaging in major transactions that add to the activity of the token. Particularly, the first 10 holders own significant holdings of $MINIDOGE tokens. 

Most tokens, a startling 738,803,177,404,113.82367059 MINIDOGE, are held by one address, which is unknown but listed as Null. According to Etherscan, this sum corresponds to roughly 73.8803% of the whole circulating quantity of MINIDOGE tokens.

The anonymous address’s significant holding strengthens its position as a key participant in the Token MINIDOGE ecosystem, with the capacity to affect market sentiment and dynamics. 

While the third-ranked holder controls 3.2315% of the tokens, amassing 32,314,525,967,018.634240189 worth of $MINIDOGE, the second-ranked holder holds more than 8.6133% of the tokens, totaling 86,133,392,702,051.329298381. 

These top 10 holders have a significant influence on the token’s future course and the general market sentiment. We can also observe from the list how investors are competing with one another to purchase additional tokens. 

With a total token value of 10,716,821,268,405.859351744, the fourth address is just 1.0717% behind the first. Etherscan is a crucial tool for Ethereum users, developers, researchers, and enterprises. The distribution and activity of MINIDOGE coins, detailed in Etherscan data, help investors and fans better understand the currency.

MiniDOGE Price Outlook Based on Technical Indicators

According to technical indicators on the decentralized exchange (DEX) and DApps platform, DEXTools, MiniDOGE is on a short and long-term bearish streak despite rallies in the short period.

The coin forms a green candlestick on the chart above. However, its Moving Average Convergence/Divergence (MACD) is below the signal line with a bold red bar on the histogram. This implies potential price losses for the coin before the end of its trade today.

Also, MiniDOGE is trading below its Simple Moving Averages (SMA) with a few pips below its 50-Day SMA, a short and long-term bearish sentiment.

 Furthermore, considering the price weakness depicted on the inverted SMA indicators, MiniDOGE is prone to price stagnation in the coming days to weeks. In contrast, the coin has its Relative Strength Index (RSI) at 100, indicating its market position in the overbought zone (above 70). 

This could be the hope for MiniDOGE as the bullish sentiment of its RSI could push the price above the 50-Day SMA in the coming weeks. But being in the overbought region suggests a trend reversal to the downside very soon. 

Nevertheless, it’s advisable to carry out a comprehensive technical analysis and have adequate risk management strategies in place before investments because cryptocurrencies are volatile and can deviate from predicted price actions.

Factors Affecting the Price of MiniDoge

Cryptocurrencies are subject to several factors, including macroeconomic activities, laws of supply and demand, public and market sentiment, regulatory crackdowns, and even news and developments related to the crypto’s ecosystem.

Furthermore, if news and events in the crypto space are positive, the coins would see price increases in the short and long term. However, if the news and events are negative, the coins will decline in their price.

Since MiniDoge is a crypto asset, these factors can affect its price, determining how it would perform within a short and long period in the crypto space.

Nevertheless, considering Elon Musk’s interest in meme coins, MiniDoge will likely gain traction if the former Twitter CEO supports it in the long run.

Wall Street Memes As An Alternative To MiniDoge

Wall Street Memes (WSM) is a meme crypto project that has gained popularity due to the growing trend of meme-based cryptocurrencies and the wide popularity of the project’s founder, Wall Street Bets. 

It emerged as a means of capitalizing on the power of internet memes and their ability to influence markets and generate attention. 

Wall Street Memes aims to create a decentralized financial ecosystem that leverages the viral nature of memes to drive value and engagement.

The project facilitates transparency, security, and immutability by operating on blockchain technology. It utilizes smart contracts to streamline transactions and enforce the rules of the ecosystem. Unlike traditional digital currencies, Wall Street Memes differentiates itself by emphasizing the role of memes in its operations.

Since the project is community-driven, a crucial factor for the ecosystem’s growth, users can generate and share memes related to the project, contributing to its visibility and influence. 

These memes often incorporate popular culture, finance, and Wall Street elements, creating a unique and engaging narrative around the project.

The value of $WSM is influenced by various factors, as with every other cryptocurrency. The attention and sentiment generated by memes play a significant role in driving demand and, consequently, the price of WSM tokens. 

The more viral the memes associated with WSM become, the more likely the currency’s value will increase. However, if it records a negative response, the coin could depreciate. 

As with any investment, exercising caution and conducting thorough research before participating in WSM is essential. While the project has gained attention and popularity, the crypto market is highly volatile and subject to various risks. 

It is crucial to evaluate the fundamentals of the project, the team behind it, and the market conditions before making any investment decisions.

Meanwhile, the presale of Wall Street Memes’ utility token, $WSM, has now reached a milestone of $12.3 million since it commenced. The current price is at $0.031, the token is set to increase to $0.0313 in the next 3 days, indicating a new presale stage for $WSM.

Interested investors can visit the presale website to grab the number of tokens they want to position themselves strategically for potential gains after the presale.