I will begin this review with a piece of advice. Don’t or rather stop sleeping on cryptomoonshot. For those who do not know, cryptomoonshot is a Reddit group that lists new tokens (Legit or Scams) yet to launch or launched but with very low market caps. However, this advice will not be complete, if I don’t tell you to make sure your research game is tight before you invest in any token you see there.
Today, we are going to review Doge Dash. I saw it in the first position in the trending coin section of CoinMarketCap.com. Did a little research and found out there’s next to nothing about the token on the internet. It first appeared on Cryptomoonshot some 72 days ago. It has progressively grown to become one of the trending coins on coin marketcap. Is Doge Dash another dressed-up scam like Cryptomines eternal and BNB heroes or a legit and sustainable project?
Let’s find out.
If you are a potential investor just getting to know DogeDash, curious (like me), or maybe you are already an investor (this demography is usually very sensitive, try to read the review with an open mind). This review was written with you in mind. I try to make my reviews light-hearted, if you are the creator try not to take any offense.
But before I begin reviewing DogeDash, you and I need to establish an understanding.
“I’m not a banker or a financial expert, I don’t even consider myself a crypto “expert” (whatever that means). I will not be held responsible for your financial decision. Crypto investments, especially meme coin investments are high-risk, high-reward ventures. This article is just a guide, consider it alternative entertainment.”
With that understood, let’s get it started already.
Doge Dash’s Website
Doge Dash describes itself as a Play-To-Earn game where players pay 100 DOGEDASH coins to enter and stand a chance of earning the 10,000 DOGEDASH coins available in the game. To better understand this game, think Super Mario but you actually get to keep the coins you collect.
Doge Dash’s White Paper
Doge Dash’s White Paper is a 9-page downloadable pdf. Like the website, it is well designed and easy on the eyes. It properly begins with an about section. Here’s how the developers put it.
“DogeDash is a Mario Run-inspired game where anyone can earn coins
through skilled gameplay and contributions to the ecosystem. The aim of the game is simple-Dash as fast as you can through all of the 10
levels whilst collecting coins along the way. Successful players who
complete all levels will be rewarded with the collected coins direct to
their wallets. Simple.”
I like DogeDash’s use of language. Direct and simple. No crypto fluff. If for some reason you don’t know what super Mario is, think of temple run, if you don’t know what temple run.
The next page (page 4) contains gameplay information. Click here to download the white paper. DogeDash integrates NFT in form of skin to allow players to not only play as their NFTS but also have special abilities linked to their NFTS such
as super jump, extra lives, and even 3X rewards.
Doge Dash has a max supply of 100 billion. 10 billion DogeDash has been burn leaving 90.29 billion as the total supply, according to CoinMarketCap.com. I have no idea why the above information wasn’t included on the website.
There is a 5%Tax on each transaction, designed to provide an ever
replenished budget for marketing. Here’s how the tax is broken down.
2% of each transaction is spent
directly on marketing to help
raise awareness and encourage
mass adoption. While 3%of each transaction is burnt.
All the above makes DogeDash a deflationary token. If for some reason you are just coming across my review and you do not know what a deflationary token is. Deflationary tokens are tokens that become more valuable over time. Unlike inflationary fiats (traditional currencies) that lose their value over time because they have an infinite supply (central banks printing money like mad people).
Doge Dash’s Staking
Dash Doge investors can stake their tokens on the Doge Dash platform. Investors can stake their tokens for 15 days and earn 209.62% APR (interest), also they can stake their tokens for 30 days and earn 263.51% APR, and finally, they can stake for their tokens for 60 days and earn 339.86% APR.
Market Cap and Liquidity Pool
Doge Dash’s market cap is currently estimated to be $110,283,553 according to poocoin.app. For a token that is barely 3 months old, it has gone a long way up. It shows many investors believe and have invested in the project and the game is not yet out. Also, it has been doing comparative well in this bear market, where some play-to-earn games like BNB heroes and CryptoMines Eternal have died a natural death. The play-to-earn game is yet to be launched, however.
According to poocoin.app, Doge Dash’s liquidity pool is estimated to be $3,409,316 as at the time of writing. 68.9% is locked in a contract on Legion Network. While another 29.4% is locked in another contract. I could not determine the contract lock time frame. Contract ownership is not renounced, this is not necessarily a bad thing. Ownership of a contract makes a token more dynamic and agile, it also gives complete control of the token to its owners (centralizes), which could be dangerous. DogeDash is listed on Gate.io which is a decent DEX. Developers brag about listing their tokens on hotbit, which I think is a trash DEX. In my opinion, the liquidity pool could be better.
Developers behind Doge Dash
You can see this team has the antecedent to manage the Doge Dash project. In an industry where being doxxed doesn’t mean much anymore, experience and reputation has become a very important metric.
What investors are saying about Dash Doge
I was able to get some comments from YouTube. Here is exactly what investors are saying.
If there’s anything like the perfect meme coin, I think DogeDash is one of them. It’s not just another Dogecoin ‘wanna be’, it actually has a fun and easy utility (in the pipeline). The dev team is not only doxxed, they have a track record and reputation to protect. I strongly believe this token is destined for mass adoption if it keeps it simple and employs aggressive marketing tactics. Also, I believe there should new information about the product in their white paper and website. As I almost forgot about staking while reviewing the token.
I saw a comment on Reddit that suggested the token didn’t fulfill the promise of reflection rewards.
Here’s a competent answer to that question.
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