A NEWLY launched cryptocurrency DogeZilla has exploded out of the gate – and some are wondering if this will be the next meme coin of preference.
In the past 24 hours, the cryptocurrency has surged 93%. It’s currently trading at less than $0.000000000001, according to CoinMarketCap.
Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
Billionaire Elon Musk has also already gotten involved with DogeZilla by posting a tweet.
Replying to a tweet about an underwater mud volcano, he wrote: “Cover story for Godzilla obv.”
Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
This is mainly because of the extreme volatility that takes place in the industry. If you’re not careful – you could lose a lot of money quickly.
The riskiness is taken a step further when it comes to newer coins because they make you more vulnerable to scams when compared to ones that have been around longer such as Bitcoin.
Plus, when it comes to meme coins – investors can lose interest at any point.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
What is DogeZilla?
Founded by an alias of “9ZEROES”, DogeZilla models itself as a community-based project.
If you are worried about possible scams – funny enough DogeZilla claims it aims to make the crypto space safer for users.
According to DogeZilla’s white paper, it has a vault that verifies crypto launches.
Ir says: “Obviously, it is not a 100% fool-proof method because that simply doesn’t exist in this space, but reducing risk to the highest degree is the purpose of Vault.”
Moreover, users can gather DogeZilla tokens by holding.
Specifically, “5% Holder Rewards are dispersed to all token holders relative to their holding percentages,” DogeZilla claims.
For upcoming projects, DogeZilla is planning to launch an NFTs Invasion Series in early 2022.
From a meme coin perspective, DogeZilla appears in a way to throw shade at Dogecoin in the sense that it’s the Godzilla of the meme coin.
Its logo features an amused dog in what appears to be a dinosaur costume.
There are also petitions through Change.org to have DogeZilla listed on major exchanges including Robinhood, Crypto.com, and WeBull.
DogeZilla price predictions
Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.
Most price prediction websites unfortunately do not have price predictions for the DogeZilla – given how new and the fractional number of tokens it trades.
This could change in future, however, if DogeZilla attracts more interest.
But of course you’ll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
DeFi and NFT expert Rio Rocket told The Sun that he is hearing “rumblings” from investors noting that they are “unable to take large-scale profits.”
That was something similar that happened with Squid Game – but that does not necessarily mean DogeZilla is scam.
Mr Rocket also cited some concerns over whether there is a “strong liquidity pool” or not.
“My advice to mainstream investors is to wait for the Certik audit (Q4 of 2021) and improvements in the liquidity pool before proceeding.”
We’ve done price predictions for Bitcoin, Ethereum, Dogecoin, Shiba Inu, dYdX, EOS, Saitama, Loopring, Decentraland, and Ethereum Name Service.
We explain meme cryptos including Shiba and Dogecoin and TigerKing.
Plus, we recently explained four things you need to know about Dogecoin.
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This news is republished from another source. You can check the original article here