Dogecoin’s aim is to be the cryptocurrency of the people, according to their mission statement. But what does that really mean? A day before the beloved Balltze aka Ball Ball passed away, a whale withdrew over 253,419,377 DOGE (worth $16,052,287 at the time) from Robinhood to an unknown wallet, but as yet the price has not faltered.
This info speaks to two important things about Dogecoin, firstly that it is a large cap currency that is difficult to destabilize. Secondly, these pieces of news are the most significant things that have happened to Dogecoin this year, apart from when Elon Musk briefly changed the Twitter logo to the Dogecoin meme.
There was actually one controversy this year, when one of the core developers, Ross Nicholl stepped back citing overwhelming stress as the reason. This may be part of the reason that the code hasn’t been updated since last year.
All this aside, what is the potential for this currency?
Given the apparent lack of development of activity currently, it seems that only a bull run would increase the price of DOGE.
Unlike many cryptos such as Bitcoin, Dogecoin has an inflationary tokenomics system. Whilst the team rightly point out that Bitcoin won’t be fully mined (and will therefore be inflationary) for a very long time, there are many other cryptos who have already released 100% of the supply, or will reach it within the next few years, meaning that they will be deflationary in the future.
Even if the entire crypto market capitalisation trebles, and takes DOGE with it, that’s a price of $0.18, but if that’s your strategy, why not pick a coin with more potential that could see much greater gains?
Everlodge has a clear use case, and that’s to allow people to invest in co-ownership of holiday and vacation properties around the world. Using NFTs to tokenize properties means Everlodge can fractionalise them and sell those NFTs on their marketplace and on Opensea.
This means people can choose a property in say, Los Angeles or the Bahamas, and invest from $100 upwards. They will then get a proportional share of the rental income.
Unlike Dogecoin, Everlodge is brand new and this is both a weakness and a strength. As with any new project there are risks associated with it, many good ideas don’t become a viable business. But with big investors like Blackrock getting involved in the sector of tokenization of properties and other assets, the idea is definitely strong. We also know that the smart contract has been audited and the team have been KYCd.
The strength of a new project like Everlodge is that you are getting in very early, and so if the project succeeds you can make huge returns, that a large cap crypto like Dogecoin can’t provide.
The ELDG token has a variety of use cases and benefits for holders, and will be an integral part of the ecosystem – meaning that there is longevity for the price action.
As Everlodge is in the beta stage of the presale, the ELDG token is at the starting price of $0.01. But it’s coming close to selling out, at which point the token will be $0.012. The token will launch for $0.038 on Uniswap and then the price will be determined by the market, with experts predicting a 30x on the day.
Anyone interested in Everlodge would do well to take a look at their whitepaper to see the full extent of their plans.