LOS ANGELES, CA / ACCESSWIRE / November 18, 2021 / Holders and investors in the cryptocurrency rush will remember the sensation that was Dogecoin. This meme token skyrocketed in value and made a handful of early entrants a whole lot richer in record time. Today, another token is mimicking the rise of Dogecoin and making big moves into moonshot status. It's called $Duggee.
Over the past few weeks, Duggee has earned itself the nickname "Dogecoin Volume 2," and for a good reason. Currently, the coin has experienced a 2,000% increase in October alone. Currently, Duggee has a supply that's pretty close to that of Dogecoin and an activity that practically matches that of the breakout crypto coin. Today, the team behind Duggee has announced that it will be working on significant rallies this November, which will most likely raise the valuation even more in the coming weeks.
$Duggee is a bep-20 token that looks to develop a strong case as a cryptocurrency for the next few decades. In a time where coins rise in value only to deflate after massive sellouts by whales, the coin that's been called the second wave of Dogecoin hopes to last longer than its predecessors. Most of the coin's growth has been organic by far, with diamond-hand investors and a strong community that's buying and holding steadily. $Duggee currently holds the Binance smart contract 0x6fd69eac70cfad00f53d2e596f370b2bc47610eb.
As part of its development roadmap, the team behind $Duggee is also planning to release a non-fungible token marketplace along with an NFT of their own come early 2022. NFTs are another significant push in the blockchain ecosystem. However, they are a little different from cryptocurrencies. Whereas cryptocurrencies operate more like currencies, NFTs use blockchain to create smart contracts for artworks and other digital collectibles. This development has turned NFT into a curated collection of virtual tokens that art enthusiasts and avid investors now acquire, collect, and trade the same way with baseball cards or painting.
With the release of its NFT, the Duggee group hopes to give its community members more opportunities to multiply their wealth through crypto investments. The developers are looking to be the first to create a token that comes with back-to-back support with an in-house NFT. For every token that sells on their marketplace, 50% of the value will be a buy back to the $Duggee token on pancakeswap.finance. This strategy will further strengthen the coin's value, a tactic that a group has never tried with a similar setup. And while the project is ambitious, the math seems pretty much laid out, and it could work wonders.
People will remember the explosion of the Shiba Inu coin, which has since its unprecedented rise been dubbed "The Dogecoin Killer." Today, Shiba carries a market capitalization of around $38.5 billion. Duggee hopes to fall into those categories in the future.
However, the team has a long way to go. As of last Tuesday, the project's market cap was at $1 million. But with a supply just shy of 150 million and the acceleration it has seen by far, there's a big chance it could start following the path of $Shib and $Doge.
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