In introduction, I would like to thank everyone for their unwavering support over the last week in launching our project. It goes without saying that the success of our strong start would never have been possible without our grassroots team, and we have the greatest team!
In our first week of trading, without any capital expenditures regarding marketing, we reached a market cap high of $3,000,000 on low volume. Since, the price of our asset has consolidated well, and now trades at roughly .01. Last week, our price experienced a massive price percentage surge from $0.0000009 to where it currently trades. We ended week one at an all-time-high number of asset holders, 450 people, and there were 1,415 Doge2 transactions recorded. We expect this success to continue exponentially over the course of this crypto-asset bull market cycle, and as our grassroots marketing and educative initiatives continue to snowball.
Asset Design and Objective
The large majority of crypto assets have strayed from Bitcoin’s ‘store of value’ model of low supply and scarcity, and have embraced absurdly inflated ‘share’ structures, more reminiscent of the very fiat currencies that cryptocurrencies initially sought to replace. Some Crypto assets have a token supply in the trillions- this is not inherently bad, as these tokens could be used AS currencies during mass adoption, but we are still years from this stage IF the central banks ever allow it to take place. As it is with fiat currencies, these assets really only benefit those who have MANY UNITS of them, and they have little room for real and sustained market cap growth, and therefore minimized investor profit.
Lets take crypto asset, SafeMoon, as an example of this; SafeMoon has a circulating supply of 1trillion tokens, a current asset price of $0.00000904, and a current fully diluted market cap of $5,813,063,084.86. As such, SafeMoon would have to reach a $10billion market cap to provide investors with a 100% gain, and at that point the price would be $0.00001808. If SafeMoon were to ever hit a $1 price-point, its market cap would be over $1trillion, which is roughly the size of the ENTIRE alt-coin market cap right now. Only a handful of the largest companies in the world are worth $1T. As such, I would argue, that this class of crypto asset is a bad investment, and an even worse trade at this stage in the market cycle, which is, I think we can all agree, euphoric; for as sir John Templeton aptly observed, “bull markets are born on PESSIMISM, grow on SKEPTICISM, mature on OPTIMISM and die on EUPHORIA.” Dogecoin 2.0 has a limited supply of 100,000,000 tokens, so at SafeMoon’s $5billion market cap, each Doge2 will be worth $55. There is a massive upside here.
We created Dogecoin 2.0 to act as a store of value with limitless growth potential, similar to bitcoin or precious metals. Though Dogecoin 2.0 does not operate on the network as original Doge, We called our asset Dogecoin 2.0 for two main reasons: 1. Our community is made up of original Dogecoin community members- we love the culture- we love the fun- we love the energy and excitement, and we wanted to bring that WITH us and give original Dogecoin community members a chance to get into something with scarce value and limited supply. 2. We view original Dogecoin as a currency due to its massive supply and structure, and we view Dogecoin 2.0 as ‘a store of value;’ a counterpart to original Dogecoin that acts as ‘Doge digital gold.’ We see Dogecoin 2.0 as a modern bitcoin. There is a both a need for currencies, and a need for gold; mediums to exchange value, and stores of that value!
As I mentioned, we see Dogecoin 2.0 as a value store, or a digital gold, and we refer to it as a ‘modern bitcoin’ because of its similar supply structure, which allows for massive price increases while maintaining a reasonable market cap. What makes Dogecoin 2.0 more modern though? Glad you asked! Doge2 is faster, more inexpensive, and there is no ‘mining,’ so it is much more green and energy efficient. Also, VERY IMPORTANTLY, Dogecoin 2.0 utilizes automatic liquidity pooling and reflection tokenomics, which as both VERY holder incentive. This is a feature that bitcoin does not offer. Please refer to the white paper for more in depth information on this- but simply put- it benefits you to hold Doge2, because each transaction is taxed- some of the tax revenue is distributed directly to Doge2 holders, and the other portion is used to create token liquidity automatically. We think thats pretty cool.
Strategy and Outlook
Our strategy is simple and common sense. We believe in community and transparency, and we like to dream big. We want to attract investors that understand and love Dogecoin 2.0 and who are passionate about its success, their success, and the success of the community. This is a grass-roots movement born out of the original Dogecoin community, we understand that we are nothing without each other, and that when we push and drive forward with one another in the same direction, amazing, life-changing things can happen. That is our approach. I am the developer of this project, and I control 30% of the circulating supply. To show commitment to our cause and to instill investor confidence, I will be locking my wallet holdings for the foreseeable future at some point this month, and I will be formally announcing this development later this week in a video. I hope that investors with a similar belief in what our asset has to offer, and in what our community has to offer will take the same approach. As you have seen, our price has made substantial moves on very low volume, I expect that as the float becomes tighter, and that as volume increases daily and our holder count rises, we will see dramatic price action moves to the upside.
We addressed market cap issues in the previous section, but being that our supply is 100,000,000, our market cap will be $100million at the $1 price level, which is relatively low for a crypto asset. Therefore, it is well within reason that we should pass Dogecoin in price within the next few months, which, due to our name association with doge, would bring massive media attention to our Dogecoin 2.0 community. Again, SafeMoon, which has similar beginnings to Doge2, has a market cap of $5billion; we feel that a similar market position is attainable for Doge2 this cycle- that would, again, price Doge 2 at roughly $50. The possibilities are endless for us.
Growth Through Exchanges
Currently, Doge2 trades ONLY on the pancake swap exchange, which limits both volume and liquidity. Our team is committed to listings on EVERY POSSIBLE EXCHANGE as soon as possible to improve our trading conditions and our brand. Our efforts to achieve that goal began last week when we applied for listing to both CoinGecko and Coin Market Cap- these approvals are necessary for listings on other exchanges, as many exchanges pull data directly from them. The reason why Trust Wallet, Metamask Wallet, and Pancake Swap do not display our logo, price, and chart at them moment, are because they also pull data from CoinGecko and Coin Market Cap. Once we are approved, these attributes will be shown.
Brand Expansion and Social Media
It is very important that we work as a community to grow our brand. Our asset is decentralized, and so is our marketing strategy. We are a movement of the people and by the people, and it is up to YOU to grow our brand on social media, and via word of mouth. That being said, our team is working hard to constantly update the website, www.dogecoin2.org, which was recently redesigned, to develop a twitter presence, to develop a youtube presence, and to manage our growing discord (500+ members) and telegram (100+ members) networks.
The social media buzz we have generated in just a week is incredible, and it will only continue! Keep working hard! As Dogecoin 2.0 developer, I pledge my best effort, my energy, my passion, and my drive to this project. Together we will push through all obstacles and all boundaries. We will create a movement of the people that no-one thought possible, and we will defy all odds. Please watch for forthcoming news which will be released in video form later this week.