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Dogecoin Community Also Join Bitrise After Bitcoin Plunges 20%

Cryptocurrency Dec 05, 2021 03:30PM ET
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© Reuters Dogecoin Community Also Join Bitrise After Bitcoin Plunges 20%
 
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Dogecoin has been one of the most successful meme coins in 2021. Ranking #11 in terms of market capitalization, at the time of writing, the coin has managed to create a massive crypto community. In the last few days, there has been a movement of Dogecoin community members joining other crypto coins.

  • Very Attractive token investors Rewards.
  • Innovative and investor rewarding token economics.
  • One of the highly potent DeFi project.

Among the crypto coins attracting Dogecoin investors is Bitrise, a still mooning coin that is exciting the crypto community. The number of Dogecoin members joining the coin has increased significantly, especially after Bitcoin plunged 20%. This is because Bitrise was one of the less affected coins by the price shock.

Apart from Bitcoin plunge, there is more about Bitrise coin that’s making the Dogecoin community join this coin in large numbers. Bitrise is rated as one of the most highly potent crypto projects in the market. The team is developing a DeFi protocol on Binance Smart Chain. For the last four months, the team has accomplished so much for a coin that launched on 28th July 2021. These accomplishments have caught the attention of the Dogecoin community.

In just three months of the launch, the team had developed Bitrise Audits, Techrate Audit, and dApp wallet as products running on the Bitrise ecosystem. The recent news is that the exchange is launching in Q1-2022. The fast development of Bitrise project is attracting many crypto investors, not just Dogecoin holders.

But the promising rewards for investing in $BRISE tokens are one of the reasons for the Dogecoin community during the recent plunge. Bitrise has one the most innovative and investor-rewarding tokenomics. As a hyper-deflationary token, the platform uses a contract to automatically buy tokens from the liquidity pool and burns them immediately.

Every 5% of the 12% fee on all transactions on the Bitrise ecosystem is sent directly to the buyback contract. The buyback and burning process creates token scarcity, which increases the demand and price of the tokens. That’s how Dogecoin members will get money from owning the tokens.

Dogecoin investors are also eyeing the 4% of the tax that is redistributed to all token holders as a reward for holding tokens. This reward is in BNB and is automatically sent to holders’ wallets every 60 minutes. Dogecoin holders joining this coin want to enjoy this static income.

It is clear that the soon-to-be-launched Bitrise token staking has attracted many, and Dogecoin members are some of them. The staking will be launched soon, and Dogecoin members want to get a part of the 80% APY revenue shared among the staked tokens. With the multiple products on the Bitrise ecosystem, the staking investors will be getting a good passive income from staked tokens.

These are just some of the reasons that can explain the surge in the number of Dogecoin holders joining Bitrise coin every day. Follow Bitrise social media platforms to keep up with the latest updates!

Website| Telegram.

Disclaimer: Any information written in this press release does not constitute investment advice. CoinQuora does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release. CoinQuora is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

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Dogecoin Community Also Join Bitrise After Bitcoin Plunges 20%
 

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