EternalDoge: The New Dogecoin-based Token on the Binance Smart Coin
Dogecoin is a popular token that started as a joke but in a few months became a meme coin. The digital asset boomed due to its early entry into the game. Fewer options were available, and being part of a crypto community carried a greater sense of purpose. Dogecoin rose as a light-hearted joke, and crypto enthusiasts joined in, increasing its popularity in early 2021.
EternalDoge becomes the newest Doge-based token to enter the Binance Smart Chain (BSC) network. Its name originates from the basis that Dogecoin is eternal since it lies on BSC. The previous Doge token varieties to get into the market were the likes of babydoge and minidoge.
Rewards
Holders are rewarded 3% of EternalDoge on transactions to give back to their community. The project strongly hopes that the community will stay loyal and hold strong as the community grows.
Dev and Buybacks
The project uses a buyback mechanism. It uses 3% of the profits to buy back some tokens and burn them. The process will help support the growth and stability of the token. Ultimately, it will reduce the token supply making it more attractive to investors.
Eternal Reflections
EternalDoge transactions get charged a fee distributed among holders of the token. 3% of the transaction fees go into internal reflections.
Liquidity Pool
1% of the token goes into the eternal liquidity pool. The pool will allow users to buy and sell crypto on decentralized exchanges without the need for centralized market makers. Also, it will provide liquidity, speed, and convenience.
Tokenomics
Total Supply (100%): 1,000,000,000
Presale: 35%
LP: 24.01%
Airdrop: 23%
Exchanges and Development: 10%
Team: 7.29%
Unicrypt Fees: 0.7%
Airdrop Details
Airdrop is for holders from Kaboz. As EternalDoge launches, they will be airdropping old Kaboz holders. The project will adjust the token distribution to 20% of supply with 50% on TGE and 25% weekly.
EternalDoge Whitelisting Event
The EternalDoge sweepwidget Whitelist is underway till the 3rd of December. So far, there are over 27,000 entries. There will be awards to three random winners who are part of the whitelist. The presale will have a soft cap of 100BNB while the hard cap is at 150BNB. The maximum contribution is 1BNB during participation in the presale.
How to Purchase EternalDoge
First of all, you need a wallet address to connect to Pancakeswap.
Then, transfer $BNB to the Trust Wallet from your existing wallet.
Connect Trust Wallet to Pancakeswap and buy the EternalDoge token.
Finally, you're now a holder of EternalDoge.
Pros
Community Support: As its last doge coins, its primary drive is by community support. EternalDoge is trying to bring a community together.
Transaction Time and Fees: The token is faster than Bitcoin in terms of transaction speed.
Availability on Exchanges: When officially launched, the token will be available on multiple exchanges to increase exposure to the community and improve accessibility.
Cons
Weak Basics: Doge was created as a joke and non-determined by fundamentals or innovation of any sort.
Scalability Issues: Even if the token is better than Bitcoin in terms of speed and fees, it has scalability issues. Therefore, it cannot be used for practical purposes when masses use the network.
Price Manipulation: The token can easily get manipulated by pump and dump schemes, tweets, and volatility. It is based on a joke and not backed by any actual use case.
Unlimited Supply: Unlike Bitcoin, EternalDoge is not capped. Hence there will be an infinite amount that can be mined or purchased by anyone. In simple terms, there will be an unlimited supply of EternalDoges. Due to its inflationary nature, it's not a great choice to store value.
What is Next?
EternalDoge is in the first phase of development. During the first phase, there will be presale marketing, contract deployment, listing on the Pinksale platform, and the official launch of the token.
The second phase involves post-marketing, Twitter, and Telegram Growth in that order. The majority of the marketing will take place at this time. After all, marketing is the primary focal point of any crypto project to bring more investors to the platform.
The third phase will involve an application for audit and listings. Also, there will be further EternalDoge growth. We can expect more details on what will happen from the announcements on their social media.
Final Thoughts
EternalDoge is a crypto with a fanciful side. The reason is, it is an offspring of its “father” Doge. The token rewards its users by distributing back 3% of the transaction fee to its holders. By holding, you can be sure to earn more EternalDoge over time.
Notably, EternalDoge has an ample supply and low price. Over time, when the marketing is launched and fully operational, the price may grow. However, the token has a fixed supply, and a proportion will be bought and burnt to reduce the supply. Consequently, the value will increase over time.
Going by the trend of how unpredicted the crypto market is, it is not a sure bet of where the token is headed over time. We can only speculate on what will happen over time. However, first, let us wait for the presale and the official launch announcement.
You can get more information on the token in their:
Website: https://eternaldoge.com/
Whitepaper: http://eternaldoge.com/wp-content/uploads/2021/11/EternalDoge-Whitepaper-2.pdf
Telegram: https://t.me/EternalDogeAnn
Twitter: https://twitter.com/EternaldogeBSC/
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site.