Dogecoin suffered a 5% loss and fell below $0.20 as the overall cryptocurrency market tumbled slightly. However, an altcoin that is a copy of DOGE, unlike DOGE, performed remarkably. A coin named Buff Doge Coin (DOGECOIN) rose by over 1,000 percent in 24 hours, from $0.00000002494 to over $0.00000003. Then it went down.
DOGE clone rose hard
cryptocoin.com As we have also reported, while many cryptocurrencies such as Bitcoin, Ethereum, ADA, BNB have experienced a decline, Dogecoin (DOGE) has also been on a downward trend, while a DOGE inspired coin has increased by almost 1,000 percent in the past few days. A cryptocurrency with a DOGECOIN ticker, although it has experienced a pullback at the time of writing, has shown a sudden rise.
Buff Doge Coin advertises itself as the “buff” version of Dogecoin. Buff Doge Coin says it was founded due to the popularity of Dogecoin with the aim to become the “King of Memes”. So, what are the features of Buff Doge Coin?
Features of Buff Doge Coin (DOGECOIN)
According to the information on CoinMarketCap, Buff Doge Coin has several unique features. One of them is that it is hyper-deflationary, with each coin burn targeting twice the amount of the previous one. The coin burn will be very frequent, so 100 percent of the remaining supply of the current Buff Doge Coin will be burned.
1,000,000 tokens will be burned during the first burning, 2,000,000 tokens during the second burning, 4,000,000 at the 3rd, and 8,000,000 at the 4th. In this way, trillions of Buff Doge Coins will be burned as a result of exponential burns. According to the white paper, the Buff Doge Coin protocol works like this: On every transaction, the transaction is taxed with a 10% fee, which is halved.
The 5 percent fee is redistributed to all existing owners. Half of the 50/50% fee sold on contract to BNB is divided by 5 percent, while the other half of Buff Doge Coin is automatically paired with the previously mentioned BNB and added as a liquidity pair on Pancake Swap. Liquidity is locked in DXsale to keep the owners safe. According to their statement, some of the profits of the Buff Doge Coin coming to the developers will be donated to animal shelters and environmental problems such as rebuilding forests to prevent global warming.
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