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Let's play a game. Guess which one of these Dog coins I made up. Winner gets a worthless reddit award. DOGECASH DOGEFI DOGECOLA DOGEPEPSI LITEDOGE DOGEDEALER DOGEGF GRANDPADOGE BABYDOGE SEXYDOGE DOGERISE DOGEFATHER DOGEMOON Dogemon Go (DOGO) DOGEDRINKS
**Your submission has been removed because 1 submission with a similar title has been posted on the subreddit in the past.** **OP:** /u/BillyeSammons **Date:** 2021-08-17 12:35:05 **Duplicates:** N | User | Date | Posted... | Similarity | Title :-:|:-:|:-:|:-:|:-:|:-:|:-: 1| [/u/CherDivers](https://www.reddit.com/user/CherDivers) | 2021-08-16 08:08:11 | 1 day 4 hours 26 minutes before | [95%](https://www.reddit.com/r/CryptoMoonShots/comments/p5bq0q/dogefi_is_a_community_meme_token_with_unlimited/) | [DOGEFI is a community meme token with unlimited potential. As a true commun...](https://redd.it/p5bq0q) I am a bot. If you believe this was sent in error, reply to this comment and a moderator will review your post. **Do not delete your post or moderators won't be able to review it.**
ICP, SHIB, SAFEMOON, DOGELON MARS, DOGEFI, etc
Lets see how many DOGE clones can you guys name. I ll start: *DogeCash (DOGEC) *Shiba Inu (SHIB) *Kishu Inu (KISHU) *UnderDog (DOG) *renDOGE (RENDOGE) *Doge Token (DOGET) *DogeFi (DOGEFI) *DogeSwap (DOGES) *MonaCoin (MONA) *CAT ($CAT)
My 2 cents: here are some warning signs in no particular order. 1. Named after another (successful) coin. If you assume DOGE is not a scam (more on this in a moment), it's more likely that Dogecash (DOGEC ) DogeFi (DOGEFI) and Dogeswap (DOGES) will be scams. 2. No legit use case. If it's just "a store of value" it's likely losing to BTC or other established coins. 3. Insanely high issuance. There are a ton of coins out there with a quadrillion (1,000,000,000,000,000) coins minted. That shit ain't ever getting to a penny - it would be worth like 6x the entire crypto market currently if it did. To me, that signals that the makers are trying to get you high on hopium: "I own a billion of these coins! If it just hits a penny, I am set for life!" 4. No limit on issuance. Doge has done well, no doubt. It is a meme, not a scam, exactly, but they are often related. Doge currently has about 130 billion coins in circulation and adds about 5 billion each year. That means (rough math here based on current prices) that it needs about $1.5 Billion USD invested each year just to keep prices stable. That is... a lot of money. But it's Doge and people love it, so maybe it'll be fine. Finally, you asked if a coin can go from scam/meme to legit. It could happen, especially if the stakers/miners take it over and put it on a path to legitimacy. Anyhow, WTF do I know? This market is so new still, rationale behavior is the exception, not the rule.