With market fluctuations pushing Dogecoin prices below USD 0.10, an alternative digital coin is gaining attention among investors – DOGZ. This new crypto coin, developed on the BSC network (Binance Smart Chain), appears to be a fresh spinoff of the original Dogecoin. The sudden shift of investor interest is not random but a calculative move aimed at hedging in crypto investments amid unstable conditions.
The DOGZ coin, by Binance, is an unfillable cup of opportunities for those who want to diversify their portfolio. This cryptocurrency, with its growing traction, has sold over one million tokens to global investors in the first three days. In many ways, DOGZ’s success resembles the crypto-craze a few years ago when Binance’s BNB started, which is today a major player in the crypto market.
To understand the uniqueness of DOGZ, one must first understand its founding principle. Named after the slang term for dogs (‘doge’), DOGZ is a playful and innovative take on digital currencies. DOGZ creators have fashioned it as a loving tribute to Dogecoin, backed by technologically advanced blockchain protocols. DOGZ retains the fun essence of Dogecoin with an upgraded functionality of a deflationary coin – a trait not seen in the original Dogecoin. The deflationary mechanism makes DOGZ superior to Dogecoin because the former has a burning function that reduces the total supply, thus making each token more valuable.
In addition to this, DOGZ offers a redistribution benefit. A small percentage of every transaction in DOGZ is redistributed amongst all the investors according to the volume of DOGZ they hold. This implies an automatic process of earning just by holding onto the DOGZ tokens. It’s a win-win situation for both the investors and the currency as it encourages more people to buy and hold, eventually driving the price up.
To further infect the investors with FOMO (Fear of Missing Out), DOGZ creators have set a maximum purchase value of 5 Thousand Billion for a single address in the PancakeSwap presale, keeping the floor open for multiple investors. Not only does it provide equal opportunities for all the investors, but it also minimally impacts the market price if a whale decides to sell.
Moreover, Binance’s goodwill and market presence increase the reliability of DOGZ. Binance is known to support high liquidity transactions and offers user-friendly interfaces. With BSC being less energy-intensive than other blockchains, the transactions are faster and cheaper.
These characteristics justify investors’ inclination towards DOGZ at a time when Dogecoin prices are dropping. DOGZ, besides being a golf-style tribute to Dogecoin, aims to offer more productive features to cryptocurrency enthusiasts. And while the quintessential charm of Dogecoin remains unmatched, DOGZ’s functional superiority promises to hold the fort till Dogecoin bounces back.