In today’s rapidly growing cryptocurrency market, a new player has emerged and is already a hot favorite among the crypto lovers. Get ready for DOGGO the newest member of the digital currency family that has dog lovers and investors barking mad. This is how the creators of DOGGO decided to make their project bright and catchy, as well as set rather high goals for their coin.
At the time of writing, DOGGO is priced at $0.0116995, and it has increased by a mere 2.55% in the last 24 hours, which indicates that DOGGO is a growing project. As it is still not running with the big dogs, it’s ranked #3675 in the market cap of $769,610.92, so this pup has potential.
Another exciting thing that I found out about DOGGO is its tokenomics. DOGGO currently claims to have a circulating supply of 100P DOGGO—its total and ultimate supply. This 100 percent circulation rate could possibly create rather vivid price trends as the token continues to attract attention and demand.
DOGGO’s 24 hour trading volume was $87,088.85, making it ranked #2529 in trading volume. Although not as large as one might have expected, this volume indicates that there is at least a group of traders and investors interested in this new token. A good sign for a newly launched cryptocurrency is a volume to market cap ratio of 10.92% therefore suggesting good liquidity.
This is the possible value of DOGGO if all tokens are in circulation based on its fully diluted market cap of $699,501.83. This figure, although is quite small in comparison to other popular cryptos, is the beginning of what could be a very promising road for DOGGO and its investors.
Of course, the same rules apply as with any new cryptocurrency, so it is worth to approach DOGGO both with curiosity and with caution. As the market of cryptocurrencies is highly unstable, the new tokens can have a very high level of the price variation. All those interested in investing in newly launched coins should carry out their research and acquaint themselves with the risks involved in the process.
The applicational technology and purpose is one of the potential drivers that could affect the success of DOGGO in the future. That is why the crypto community still remains curious to learn more about some distinctive aspects or offerings that DOGGO has to offer. Since most tokens that are launched into the market today are purely based on meme and hype, most of the projects that are likely to stand the test are those that have some practical use case or those that are involved in the development of actual blockchain use cases.
Marketing will be instrumental in the growth of DOGGO as will the engagement of the community. A few successful cryptocurrencies have created great communities that promote use, improvement, and awareness of the digital asset. The way DOGGO’s team will go about creating a community will be intriguing to watch, and whether or not they can generate a fan base that supports the project in the long run.
When DOGGO enters the crypto space for the first time, it has its advantages and disadvantages. The market for cryptocurrencies has evolved from the initial period of Bitcoin and other cryptocurrencies through a period of increased attention from regulatory authorities and a more selective investor public. New projects like DOGGO are going to need to tread this ground very lightly, while trying to push the envelope both creatively and legally.
For the crypto world and possible investors, DOGGO is a chance to invest in a new project at its initial stage. Though, like with any investment, it is still important to go into it prepared and with caution. The feasibility study will require understanding the project’s plan of action, the team behind it, and the technological framework of the project.
It will be interesting to see how DOGGO evolves as it further sets itself into the crypto landscape. Will it turn into the next meme coin and capture the population and their affection in the world of crypto? Or will it be the latter that seeks to find its own market, a specialized market of providing new solutions to existing problems through the use of blockchain?
Only time will tell how DOGGO will do in the future but for now, it has surely created a buzz in the cryptosphere. However, as DOGGO develops and progresses, it has the chance to become an MDO not only as an additional dog-themed token but as an additional animal-based cryptocurrency.
Therefore, it can be seen that DOGGO’s entry to the cryptocurrency market has its fair share of hopes and hype. Like any other new project based on cryptocurrencies, its success will depend on the further development of technologies, the attitude of people toward it, the conditions in the market, and the changes that will occur in the field of blockchain. For now, DOGGO is just another entrant in the global market of digital currencies, which is still vast and rather unpredictable, so people can only watch the further evolution of this project with both curiosity and hope.
