Dogecoin is losing its touch quickly in the face of the EverGrow coin in April 2022
Dogecoin was the most unlikely currency to mint its first crypto millionaire in April last year, but it has struggled to keep up the pace in 2022. Dogecoin has lost 17.6% in price year-to-date. Finally, the trend is turning around with 3.35% growth in the past 24 hours – meanwhile, EverGrow Coin has grown 10% in the past 24 hours according to CoinMarketCap.
Hopes were high for Dogecoin after Elon Musk launched a takeover bid for Twitter. Dogecoin has long been a favorite of the Tesla CEO, and its price grew to $0.17 following the news last week. This has now fallen down again to $0.14 as the hype fades.
In the meantime, EverGrow Coin is up from lows last week of $0.00000037 to $0.00000041 today, April 19. Below we’ll 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 raise prices even during bearish market cycles. A recent DigiFinex listing has given EverGrow Coin its highest 24-hour trading volumes all year as the new platform eased access to new investors. Previously, the best place to buy EverGrow Coin was on PancakeSwap.
While many tokens rise and fall according to market whims, 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 24hr trading volume at over $3 million, this means at least $60,000 was collected to buy back and burn.
EverGrow Coin also rewards investors who hold long-term, with 8% of the transaction tax distributed instantly as BUSD stablecoin rewards. To date, EverGrow Coin has paid out $36 million to investors.
With rising volume in April 2022, EverGrow Coin predicts burning 5 trillion $EGC tokens per month – about 0.05% of supply.
Dogecoin launched in 2013 off 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 it saw a huge price rally influenced by Elon Musk’s vocal support of the coin on Twitter. When Elon Musk hosted a Saturday Night Live show its 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.
Dogecoin’s price has crashed around 80% from its all-time high and is currently trading at $0.1404. The crypto-token relies heavily on news cycles and high-profile backers. The Robinhood CEO Vladimir Tenev recently suggested that Dogecoin could reach its goal of becoming the currency ‘of the people if it can ramp up its block times, currently at 1 minute.
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