Doge King, a UK-based meme token, is a community-driven token on the Binance Smart Chain, aiming to provide self-solvent assets. The token draws its foundation from Elon Musk-favoured memecoin Dogecoin, and it leverages BEP-20 smart contracts to help investors earn passive income.
What is Doge King all About?
Dogecoin was named after a once-popular meme and was designed, at least in part, as a lighthearted joke for crypto fans. Despite its strange genesis story, $DOGE has skyrocketed in popularity in 2021, becoming the ninth-largest cryptocurrency by market cap as of this writing.
Doge King came into the picture this year with hopes to change the tide by offering a Doge-inspired severe enterprise. This approach hopes to cultivate a strong community around DOGEK and encourage investors to profit more passively.
The coin has a revolutionary technology that allows it to be deflationary without jeopardizing its price floors. It also charges a 5% transaction fee. Doge King then uses the incentives to help grow the token's value and demand. Finally, DOGEK investors have a decent probability of earning daily rewards based on how long they keep their assets.
Features
Liquidity Locked
Liquidity locked for one year. Uniswap or PancakeSwap offer liquidity by combining the new token with another token of known value (e.g., ETH, BNB or Tether). The platform deposits funds from this pool in the exchange, and the liquidity provider receives tokens from the liquidity pool (LP), which users can use to withdraw funds from the pool in the future.
It gives investors trust that the token creators will not steal the liquidity funds. It is now a standard procedure that all token producers adhere to, which genuinely distinguishes a fraudulent currency from a genuine one.
Fully Decentralized and Community Driven
The crypto project has no specific owner and, of course, no corporate structure or CEO deciding on its development. Instead, it features community-driven development, which gives organizations direct community influence over the development process, resources, and decision-making capacity.
Hold & Earn
The token employs a method that renders it deflationary while maintaining high price floors. The 5% transaction fee utilized in incentives will serve to boost the token's value and demand. Furthermore, by owning DOGEK, investors have the opportunity to collect daily dividends.
2000x Gain Potential
Doge King seeks to ensure that this coin has a 2000x potential, according to their website. Given the price increases in the last several hours, this is a possibility. According to Dextool's study, the coin's value has already increased by more than 300% since its inception.
Audit and KYC
Doge King recently declared that it finished its audit and KYC scanning. As a meme token, it may be difficult for investors to believe in the enterprise. However, the audit contributes to increased faith in the project's long-term viability.
On November 3rd, Solidproof provided the audit and KYC reports. During the audit, SolidProof discovered no flaws that may jeopardize consumers' assets.
As a result, DOGEK is a highly secure contract. In addition to the audit, Solidproof performed a KYC check on the Doge King crew. SolidProof performed the check to confirm that the team had no ties to money-laundering schemes. As a result, the KYC certification demonstrated that DOGEK has a credible crew.
Tokenomics
Here are the things we know about the DOGEK token so far:
- The coin will have initial liquidity of 11 million DOGEK.
- DOGEK's maximum supply will be 845,000,000,000,000 units.
- The project will only store 4% of the total DOGEK value.
- In addition, the team will lock the remaining liquidity at Unicrypt for a year.
DOGEK Pre-Sale
The Doge King network just held a successful presale. Doge King began its presale to garner widespread community support. The platform scheduled the session to go through Thursday, November 11th. Unicrypt hosted this ILO, with a soft cap of about 100,000 BUSD and a hard cap of 150,000 BUSD.
However, the presale session ended a few minutes after it began on the 6th. DOGEK celebrated their achievement on their Telegram and Twitter accounts. It hit the hard cap.
Unicrypt Launchpad
The platform required locking liquidity since this platform utilized the Unicrypt launchpad. According to Doge King's Twitter, Unicrypt lockers receive 60% of the total BUSD generated in the ILO. Unicrypt will have a liquidity ock of roughly 90,000 BUSD raised.
Participants in the ILO were subject to limitations. However, according to Unicrypt, the total BUSD value was purchased by around 142 holders. While attendance in the presale was limited, it skyrocketed on Pancakeswap. According to BSC scan statistics, there are about 2000 holders and over 21,000 transfers.
Pros
- Secure: SolidProof has fully audited the platform and found no risk to its code.
- Decentralized structure: The project is based on an ecosystem where no single entity is exclusively in charge.
- Fast transaction and validation protocol that takes less than a minute; hence it is less time-wasting.
- Cheap to buy: Currently, the exchange rate is relatively low, allowing investors to get more for their invested amounts.
Cons
- Doge King does not have a maximum supply: limited supply creates high demand and low supply hence a price surge.
- Little information on the team: the website does not give names of the specific team behind the project.
- Little is known about the future of the project as the project has not released the whitepaper.
How to buy Doge King on Pancakeswap
Doge King may be purchased on PancakeSwap using any wallet app that includes a dApp browser. However, we urge that you use the Trust Wallet app. Here's how to buy Doge King on PancakeSwap:
- Install the Trust Wallet app on your smartphone and create a secure backup of your key phrase.
- Deposit BNB into your BNB Smart Chain address
- After receiving the coins, go to the Trust Wallet App's bottom and click the DApps browser icon.
- Search for PancakeSwap and choose PancakeSwap v2 to be redirected to the DEX platform.
- Connect your PancakeSwap account to your Trust Wallet account. Ensure that "Binance Smart Chain" is enabled. Otherwise, an error message will be displayed.
- Select Swap. Select BNB at the top and enter the number of BNB you wish to swap to Doge King.
- To confirm the transaction, preview it and click the "Swap" option.
- When the transaction is complete, the amount of Doge King purchased appears in your account.