{"id":11038,"date":"2023-07-15T03:04:00","date_gmt":"2023-07-15T03:04:00","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=11038"},"modified":"2022-05-18T04:37:19","modified_gmt":"2022-05-18T04:37:19","slug":"what-is-dogelon","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon","title":{"rendered":"What is Dogelon?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#what_is_dogelon\" >What is Dogelon?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#what_is_a_memecoin\" >What is a memecoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#the_explosion_of_memecoins\" >The explosion of memecoins<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#some_details_about_dogelon\" >Some details about Dogelon<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#a_special_feature_of_dogelon\" >A special feature of Dogelon<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#the_impact_of_dogelon_and_memecoins\" >The impact of Dogelon and memecoins<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#different_sides_of_the_same_coin\" >Different sides of the same coin<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogelon\/#a_look_into_the_future\" >A look into the future<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 5<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>2021 was a great year for the cryptocurrency ecosystem. Finally, they reached the mainstream media and Dogelon Mars (from now on, simply Dogelon) is a consequence of the twelve months we have just gone through.<\/p>\n<p>The past year has been an impressive period in terms of the diffusion, adoption, dissemination of new networks, profit potential and proliferation of new solutions provided by blockchain technology.<\/p>\n<p>While most of these points are positive for the ecosystem, there are also those that can be detrimental in the medium or long term.<\/p>\n<p>In this article, in addition to telling you what Dogelon is, I analyze the impact that this type of cryptocurrency has on its environment, leaving aside certain founding principles of the ecosystem.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"what_is_dogelon\"><\/span><strong>What is Dogelon?<br \/>\n<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p><strong>When we talk about Dogelon, we refer to a cryptocurrency created in the Ethereum network, under the ERC-20 standard, which has a fixed total supply and a price that varies according to the pressure exerted by its buyers and sellers.<\/strong><\/p>\n<p>The creators of this cryptocurrency took advantage of the popularity of two renowned figures in the crypto world, such as Elon Musk (founder of Tesla) and\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-dogecoin\/\">Dogecoin<\/a>, to give visibility to their project.<\/p>\n<p>Although the promise, tied to its birth, was to return to users those losses caused by \u201cscammers\u201d and \u201c<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-rug-pull-and-how-to-identify-it\/\">rug pulls<\/a>\u201c, so far the usefulness of this token is null, beyond the option of making profits by trading (buying and selling) with it. It is definitely a \u201cmeme coin\u201d.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what_is_a_memecoin\"><\/span><strong>What is a memecoin?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This concept, within cryptocurrencies, was born from the hand of Dogecoin. Initially, its creators took the image of the most famous meme on the Internet, the cute little dog of the Shiba Inu breed that with its particular expression generated a furor in the networks, and created a cryptocurrency based on it.<\/p>\n<p><a href=\"https:\/\/www.bitnovo.com\/blog\/en\/billy-markus-and-jackson-palmer-founders-of-doge\/\">According to its creators<\/a>,\u00a0<strong>Dogecoin was born as a joke<\/strong>. The coin was created and launched to the market with no major expectations. With a very high issuance rate and an infinite supply, users began to give it certain uses, such as its free distribution in different \u201c<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-bitcoin-faucet\/\">faucets<\/a>\u201d or as a prize for participating in different games.<\/p>\n<p>The first few years of Dogecoin went by without much fanfare, being used for\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/why-has-your-interest-increased-in-recent-years\/\">trading<\/a>\u00a0by users who wanted to make a profit thanks to its volatility. Until Elon came on the scene.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"the_explosion_of_memecoins\"><\/span><strong>The explosion of memecoins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>At the end of 2020 and the beginning of the previous year, Dogecoin\u2019s price and market capitalization boosted unexpectedly. Partly thanks to large investors buying large amounts of Doge and partly thanks to Elon\u2019s suspicious tweets about this coin.<\/strong><\/p>\n<p>In short, new millionaires emerged thanks to these market movements, as well as their counterpart, people who invested and saw how their capital was diluted.<\/p>\n<p>Taking advantage of this vortex for \u201ccryptocurrencies with dog faces\u201d,\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/shiba-inu-vs-dogecoin\/\">Shiba Inu<\/a>, (memecoin similar to DogeCoin without any utility) and another product of this furor (the focus of this article) called Dogelon appeared on the market.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1745453312\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon2.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon2-300x205.jpg 300w\" alt=\"\u00bfQu\u00e9 es Dogelon?\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon2.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon2-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon2.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"some_details_about_dogelon\"><\/span><strong>Some details about Dogelon<br \/>\n<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p><strong>So, we know that Dogelon is a memecoin, which to date has no utility other than the possibility of being exchanged in different centralized and decentralized exchanges.<\/strong><\/p>\n<p><strong>When creating this cryptocurrency, its \u201cparents\u201d decided to combine the two most important figures in relation to this type of coins, Elon Musk and Dogecoin.<\/strong><\/p>\n<p>They also followed common parameters of this segment when launching these tokens. At launch, as with Shiba Inu, the creators of Dogelon sent half of the ELON tokens to an address on the Ethereum network belonging to\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/who-is-vitalik-buterin\/\">Vitalik Buterin<\/a>\u00a0and the rest to a\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-uniswap\/\">Uniswap<\/a>\u00a0pool for those who wished to buy them.<\/p>\n<p>The strategy of sending half of the ELON tokens to Vitalik, in the Ethereum creator\u2019s own words, follows the following sequence:<\/p>\n<ul>\n<li>\n<ul>\n<li aria-level=\"1\">They send cryptocurrencies to their public addresses that anyone can see.<\/li>\n<li aria-level=\"1\">They post on their networks \u201cVitalik has our token, he is one of ours\u201d.<\/li>\n<li aria-level=\"1\">Many users are surprised by this news and turn to the market to buy the token in question.<\/li>\n<li aria-level=\"1\">The price rises significantly.<\/li>\n<li aria-level=\"1\">Many will make money and many others will lose it.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"a_special_feature_of_dogelon\"><\/span><strong>A special feature of Dogelon<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite having mentioned that Dogelon does not have substantial innovations that differentiate it from the rest of the memecoins, there is a differential point in its structure that needs to be mentioned.<\/p>\n<p><strong>In contrast to Dogecoin or Shiba Inu, Dogelon has a fixed supply. Since the amount to be issued is not unlimited, it is possible to better foresee its future value or, at least, to avoid the loss of value due to inflationary issues.<\/strong><\/p>\n<p>As a negative consequence, we find that this quality has led analysts (whose intention was to leverage their holdings) to provide assumed target prices for Dogelon, justifying their forecast in the limited supply.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_397837777\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon-300x205.jpg 300w\" alt=\"\u00bfQu\u00e9 es Dogelon?\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/01\/Dogelon.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"the_impact_of_dogelon_and_memecoins\"><\/span><strong>The impact of Dogelon and memecoins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p><strong>It is far from the objectives of this blog to give investment advice or to present a biased view on the topics discussed here. The aim is always to educate readers by providing tools to invite them to subsequently conduct their own research in order to make informed decisions.<\/strong><\/p>\n<p>Therefore,\u00a0<strong>my strict personal view<\/strong>\u00a0on the subject comes into play here.<\/p>\n<p>It is not possible for me to disdain the concept of speculation. Given the economic and social context in which we live, we constantly find ourselves speculating, it is part of the human essence, immersed in this society.<\/p>\n<p>When deciding where to vacation, what meals to eat or what shampoo to buy, we are speculating about possible results or \u201coutputs\u201d that our decisions may generate. Consequently, I do not consider speculation \u201cper se\u201d as an evil.<\/p>\n<p>Now, focusing on the crypto ecosystem, where my alarm bells go off and my red flags fly, is when speculation is the ulterior motive. In the case of memecoins, when it comes to mounting them on a scale, I consider the \u201cpain\u201d they cause versus the \u201chappiness\u201d they bestow, because of this pure speculation, to have much greater weight.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"different_sides_of_the_same_coin\"><\/span><strong>Different sides of the same coin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>When I talk about pain, I mean economic losses, and by happiness I mean voluminous profits as a counterpart. We have already seen several newspaper headlines, where famous company executives announced their resignations after becoming millionaires by investing in memecoins, while devastated users suffered in the shadow of this news.<\/p>\n<p>The impact they have on the ecosystem, as a whole, is reflected in the tarnish they display on the reputation of the ecosystem. When Satoshi created Bitcoin, he did it thinking of creating, as a friend says, a better money, a superior money. And I consider that memecoins are not. Since, beyond the speculation with its price, they do not have any utility that makes use of the enormous potential that blockchain technology offers us.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"a_look_into_the_future\"><\/span><strong>A look into the future<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>After this analysis of Dogelon and the cryptocurrencies in its category, my conclusion about its future is similar to the one I have with the crypto world in general.<\/p>\n<p>The future of Dogelon depends on its community and random factors beyond our control. Perhaps it will be a new case of \u201c<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/pump-and-dump-scheme-what-it-is-and-how-it-works\/\">pump and dump<\/a>\u201d through publications on the networks and organization through secretly coordinated groups.<\/p>\n<p>Or perhaps your community will find uses for this currency that will force me to gladly rewrite this article.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 5<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>2021 was a great year for the cryptocurrency ecosystem. Finally, they reached the mainstream media and Dogelon Mars (from now on, simply Dogelon) is a consequence of the twelve months we have just gone through. The past year has been an impressive period in terms of the diffusion, adoption, dissemination of new networks, profit potential [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-criptomonedas"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=11038"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7360"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=11038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=11038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=11038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}