It's almost three months since the release of PolyDoge, and like most other DEFI coins its been through its pump and dump and level cycle:
Look familiar?
The timing of the release was fortunate - during the Polycat Finance heyday when FISH was all the rage, and people evidentially did the usual buy-in-big for the 1000s of percent returns and then try to time-the-out to beat the masses.
I actually came across PolyDoge about a month ago, well after the initial hype cycle and bought $10 worth as a tiny punt as I had some liquid Matic and other bits and bobs I'd just taken out the the by then drained Fish pools.
But is it worth buying now, after all the hype?
My conclusion is maybe a little, for five reasons:
- It's linked to Doge, even if by name only which alone gives it potential.
- It's got that 'insanely cheap' psychology going for it - you can buy a billion for not too much money!
- You can still get a > 200% return on it pooled with Matic.
- There are still community led initiatives and projects being developed on it.
- Part of PDoge's identity is that it's 'a bit naff' so it can get away with mediocre marketing and shit projects easier than with other DEFI coins.
The Polydoge Website and Community
The Website is kitch, but knowing Doge that's no surprise and somehow doesn't detract, and it's quite busy and, well, just fun, which I guess is the point!
I actually quite like the Web Site design, and they're also pretty active on Twitter.
Polydoge Casinos burn Doge
As I understand it, like all other DEFI shitcoins, the entire PolyDoge supply has now been minted and so any burns reduce the supply, and it's possible to gamble your PDoge away - millions at a time when its so cheap, which I must say has an appeal, where else can you gamble away a million of anything without losing that much?
NB I haven't tested this feature out myself, dice rolls are NOT my thing!
DogeQuake....
This is not a blockchain game - you have to access it via their Telegram group, and then you can play for Doge.
NB I haven't checked this out, I got as far as getting my link to the game in Telegram, but didn't like the sound of having to give it access to my browser so stopped there. I have an old lap top, I might crack that open and try via that laters, so for now this is 'of interest' rather than something I'm in a position to evaluate.
PDoge NFTs
The team have also minted some NFTs on OpenSea, and you know what happened with Crypto Punks, but here we have CHEAP Polygon NFTs linked to Doge imagery, so these COULD be worth a punt...?
The problem here is that there was a fault when I tried to sign on MetaMask to approve purchasing - it must be at their end, it's worked fine my CryptoRaiders on the same network.
Polydoge - Recent Price Action
Well according to CMC it's been flat, but with a couple of spikes, suggesting there's potential for an increase at some point?
I don't know if it'll spike, but I can't get things anymore wrong than CryptoWendy, so based on no evidence at all I say this could possibly do well.
A > 200% return on Barbershop Finance
I know, I know, it's ANOTHER DEFI platform, but if you pool yer PDoge with Matic on Barbershop Finance, you can earn a >200% paid in 'Hair', which you can then 'trim' at various points.
Conclusion - PolyDoge - Worth Buying?
If you need a Polygon shitcoin in your Portfolio then PDoge seems better than most for a punt.
The very fact that it's linked to the Doge brand, doesn't take itself too seriously, has stuff being developed that uses it, and it's got the 'cheaps psychology (i.e. you can buy a billion easily) AND you can get a >200% return, I think it's a yes, at least for a small in!
At the end of the day it's a fun punt. And you know crypto, crazy things can happen to the most shit of shit coins!
DYR and NFA!