What Is Doge Killer Cryptocurrency, and Is it a Real Challenger to Dogecoin?

Dogecoin has seen its share of imitators and rivals, probably the most well-known of which was probably Shiba Inu, with the SHIB token. Others embody two tokens referred to as Doge Killer, with the token names KILLDOGE and LEASH. Whereas the previous by no means actually noticed excessive worth, LEASH was at one level this yr buying and selling at nearly $8,000 for one token. However how is it holding right now, and will it actually kill Dogecoin, which has the backing of such well-known names as Elon Musk and Mark Cuban. Doge Killer (LEASH), operates on the Ethereum blockchain. Its actual attraction is its shortage due to an especially small provide of 1,07,647 cash. This makes it extremely risky. Dogecoin Killer additionally has just a few whale accounts, which might affect its value shortly and instantly.

Up to now 24 hours, Doge Killer has gained greater than 9 per cent to succeed in a value of $786.31 (roughly Rs. 57,725), based on CoinMarketCap. However an evaluation of the info from the previous three months means that Doge Killer has misplaced a major worth. Through the Bitcoin bull-run that occurred within the first half of the yr, Doge Killer together with most different cryptocurrencies noticed its worth stand up sharply, and in Could it peaked at $7,902.

Its value fell sharply after that, buying and selling at a bit of above $2,000 (roughly Rs. 1.46 lakh) earlier than capturing as much as twice as a lot close to the top of the month for a couple of week, earlier than beginning a decline once more in August. However after that, it continued to say no. Specialists say whales performed a job in its meteoric rise after which sudden fall.

The cryptocurrency has a completely diluted market capitalization of $84,643,791 (roughly Rs. 621 crore). After finding out these information, in case you are questioning whether or not you can purchase a meme cryptocurrency then Doge Killer may very well be an choice. Nonetheless, carry out due diligence and do detailed analysis to know the dangers of cryptocurrency investments.

Concerned about cryptocurrency? We focus on all issues crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Devices 360 podcast. Orbital is obtainable on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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