Will Dogecoin explode again? Analysing Dogecoin’s potential compared to Caged Beasts & Shiba Inu

The world of cryptocurrency is a wild west of sorts, an unpredictable landscape where fortunes are made and lost in the blink of an eye. One such digital asset that has caught the world’s attention is Dogecoin ($DOGE). The popular and influential meme coin has been making headlines recently, thanks to Crypto YouTuber Glauber Contessoto, who became a self-proclaimed “Dogecoin millionaire.”

Contessoto has shared his thoughts on when it is best to buy DOGE in the current market, leading many to ask, “Will Dogecoin explode again?”. This development raises questions about Dogecoin’s impact on other meme coins like Caged Beasts ($BEASTS) and Shiba Inu ($SHIB).

The Dogecoin Millionaire’s Strategy

Dogecoin, often referred to as the original meme coin, has had a rollercoaster ride in the crypto market. Its price skyrocketed to an all-time high of $0.7315 in May 2021, only to plummet significantly since then. Despite this setback, dedicated Dogecoin holders, like YouTuber Glauber Contessoto, continue to believe in the coin’s potential.

As of now, Dogecoin’s price hovers around $0.0611, with a slight decrease over the past week. While it’s a far cry from its peak, it hasn’t deterred Dogecoin enthusiasts. Contessoto, for instance, has stated he would increase his Dogecoin holdings if the price fell below $0.06, clearly indicating his enduring faith in the meme token.

Contessoto, famously known as the ‘Dogecoin millionaire’, shot to fame when his strategic investment of $250,000 in Dogecoin made him a millionaire during the coin’s peak. Despite the coin’s subsequent decline, he continues to hold and promote Dogecoin. His strategy, it seems, is to buy the dip, a common tactic in the world of cryptocurrency.

While Dogecoin may have been the original meme coin, it certainly isn’t the only one now. Newer coins, such as Caged Beasts ($BEASTS) and Shiba Inu ($SHIB), have entered the crypto arena, vying for a piece of the pie. The advent of these coins and their respective communities can impact Dogecoin in various ways.

The Caged Beasts approach to growth

Caged Beasts, a project that aims to revolutionise the finance industry through decentralisation and locked liquidity, has gained considerable attention. The project is backed by influential individuals and an active community, with a comprehensive roadmap to guide its future.

Caged Beasts also distinguishes itself through its philanthropic endeavors, dedicating a portion of its profits to combating animal cruelty. Caged Beasts is not just about decentralized finance; it’s about building a community. To support its growth goals, Caged Beasts has allocated 25% of its funds for marketing and has securely locked 75% of raised funds until the release date.

The project even offers a presale referral mechanism that will reward users with a passive income of 20% to be paid in Ethereum ($ETH), BNB ($BNB), or Tether ($USDT) which can be used to invest in $BEASTS or any other cryptocurrency.

Shiba Inu & Dogecoin: A friendly rivalry?

Another meme coin that has gained traction is Shiba Inu ($SHIB). Often branded as the ‘Dogecoin killer,’ Shiba Inu has made waves in the crypto community. However, it’s worth noting that the success of one meme coin doesn’t necessarily spell doom for the others. Instead, the rise of Shiba Inu could potentially generate more interest in meme coins, eventually benefiting Dogecoin.

The emergence of coins like Caged Beasts could potentially impact Dogecoin. While they may compete for the same investor base, their unique selling propositions can also attract different demographics. For instance, Caged Beasts’ focus on combating animal cruelty, passive income and its unique “Caged Liquidity” concept may appeal to a different set of investors compared to Dogecoin.

Will Dogecoin explode again? The bottom line

The million-dollar question remains – will Dogecoin explode again? While it’s impossible to predict with certainty, the coin’s potential cannot be denied. Dogecoin’s vibrant community, celebrity endorsements, and its inherent potential as a digital currency could potentially propel its growth. However, like any investment, it comes with its share of risks and should be approached with caution.

The world of cryptocurrency is filled with uncertainty, but it’s also teeming with potential. As for Dogecoin, only time will tell if the meme coin will have its day in the sun again. In the meantime, investors should keep an eye on the developments in the crypto space, including the rise of other meme coins and projects like Caged Beasts. After all, in the wild west of cryptocurrency, it’s all about staying ahead of the game.

Find out more about Caged Beasts (BEASTS):

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS

Sponsored

WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido