CoinMarketCap takes a deep dive into DogemonGo (DOGO), a game inspired by Pokémon Go, where players can earn Dogecoin (DOGE) by capturing Dogemons.
DogemonGo (DOGO) is another addition to meme-based cryptocurrency projects and a spinoff of the famous Pokémon Go game. The game, DogemonGo, is based on the same principle, only it contains a lot of "Dogemons" instead of Pokémons. Dogecoins (DOGE) are rewarded to players whenever they hunt a dogemon, which users can trade in the crypto markets.
DogemonGo (DOGO) was created by Frozen Limited with Shemie Suarez as the lead developer. It aims to introduce people to the world of crypto with a fun and exciting game.
How Does DogemonGo (DOGO) Work?
The users who play the game try to catch Dogemons and get DOGO credits and Dogecoins in return. The level of DOGO credits is directly proportional to the number of levels that players achieve in the game. Players earn more rewards as their DogemonGo (DOGO) level increases and so does their chance to capture more Dogemons and earn Dogecoins.
How To Earn Dogecoin in DogemonGo?
DOGO is the native token in DogemonGo ecosystem that can be used to purchase Rocket Balls, renew monthly Trainer Licence and earn Dogecoins on a daily basis. The DogemonGo Trainer Licence serves as a great tool to exchange DOGO Credits for DOGO Tokens. The idea is to keep accumulating DOGO credits and keep exchanging them for Dogecoin rewards.
There is also a proper referral system offered by DogemonGo (DOGO). You need to have an active Trainer Licence to invite your friends and earn 2% DOGO credits on whatever they earn while playing the game. Additional special rewards can be obtained inside the DogemonGo (DOGO) game by visiting special locations.
Users have to hold a minimum of 50,001 DOGO Tokens in their wallets to earn Dogecoin. DOGE can be earned once a day at 4 pm UTC and users have the option to withdraw both DOGO Token or Dogecoin by using Binance Smart Chain (BSC) wallet address through wallets like MetaMask and TrustWallet.
DogemonGo (DOGO) is currently available for both Android and iOS users.
How Is DogemonGo (DOGO) Unique?
The use of Augmented Reality (AR) makes DogemonGo (DOGO) a vibrant and unique game for users. Augmented reality (AR) is a digitally enhanced depiction of the real world that uses audio and visual components to create a unique gaming adventure for the user.
DogemonGo (DOGO) players get to experience a completely immersive experience in which they actually feel inside the game trying to catch Dogemons.
Another unique feature that DogemonGo (DOGO) offers is an advertising platform where players can market their personal investments on projects and coins/tokens. The projects, tokens, or coins will be integrated into the DogemonGo World. All players of the game will be able to see these projects, coins, or tokens, which can result in increasing the popularity of the coins or tokens.
DogemonGo (DOGO) Tokenomics
The total supply of DogemonGo (DOGO) is 100,000,000,000. 10% is allocated to DogemonGo (DOGO) App Rewards and 90% towards the launch of the DOGO token. Also, the total transaction fee amounts to 15% - 7% for buying Dogecoins, 3% for marketing expenses, 3% for liquidity, 1% for DogemonGo's team, and 1% for in-game rewards.
7% Dogecoin from every buy/sell are distributed among all holders. Another 3% of every transaction on PancakeSwap goes to the liquidity pool. This process occurs automatically and contributes to price stability by assisting in the creation of a price floor.
Also, selling fee is limited to less than 0.1% of the total supply where the Dogemon (DOGO) platform charges a 1% fee on all token sales to avoid dumping. It also helps in reducing swing trading and breaking the whales' grip on the DOGO market.
DogemonGo (DOGO) Price
DogemonGo (DOGO) is now trading at $0.0002014, as of August 19, 2021. Its 24-hour trading volume on exchanges is around USD $1,240,037.51.
When Will DogemonGo (DOGO) Hit 1 Cent?
As of August 19, 2021, DogemonGo (DOGO) is trading at $0.0002014. Whether DOGO will hit 1 cent in the near future depends on a lot of factors. For example, if DogemonGo (DOGO) decides to take the same route as Axie Infinity (play-to-earn game) which experienced a big price boom in the last few days and became the first game to surpass $1B in sales, taking the AXS crypto to record-high levels, then this can be good news for all DOGO holders. The second reason to be optimistic about DOGO is the fact that Dogecoin has gained immense popularity since Elon Musk, the founder of Tesla and SpaceX has shown his support for Doge multiple times on his Twitter channel.
With a ranking of #7 on CoinMarketCap, Dogecoin’s popularity may have a direct effect on the price of DOGO. Now, considering a lot of volatile factors, it is very hard to say in which direction DogemonGo (DOGO) token will tilt, which is why it is advisable to keep an eye on market indicators and technical opinions of cryptocurrency experts before investing in this token.
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