Bitcoin is a community-ran cryptocurrency without any central authority controlling the project. The creator of Bitcoin, Satoshi Nakamoto, disappeared from the public field a long time ago. Dogecoin had a dedicated dev team at some point, but everybody quit the project and now it is run by the community, like Bitcoin. Dogecoin has an impressive market cap, making this crypto one of the top projects in the industry (despite the fact that some dismiss the coins as a weak Bitcoin clone). The price is fueled by celebs including the likes of Elon Musk and Vitalik Buterin.
Although most cryptocurrencies that emerged after Bitcoin are managed by a dedicated team, some new cryptocurrencies are still relying on algorithms and the power of the community instead of a centralized authority. Among these crypto purists is a DogeBonk (DOBO), another meme token inspired by Dogecoin and its famous Shiba Inu mascot. Many of these post-Dogecoin tokens claim to be community-focused The DogeBonk creators have stated that they have launched DogeBonk without pre-sales and don't have any share in the project. The token keeps on developing as a collaborative effort of enthusiasts and no person in particular is running this project.
The project is far below the top 1,000 cryptocurrencies by market. Nevertheless, its price keeps on fluctuating and the token is available on PancakeSwap. This article reviews the DogeBonk token and its benefits. Here you will learn where and how to buy this token, is DogeBonk a good investment, and find other answers to most vital questions.
DogeBonk (DOBO) is a BNB Chain-based token launched in 2021. Despite being a token based on a third party blockchain, DogeBonk follows the old school cryptocurrency ethics in some way. The token is run by the community without a central entity having control over the project. Like Bitcoin, DogeBonk is a deflationary currency.
Much of the DogeBonk architecture relies on algorithms and an immutable smart contract. More than that, DOBO had what is called "fair launch," meaning that the token was released to the market without a pre-sale or similar events. The token is protected from spambots via a limit set for the one-time purchase of DOBO (not more than 0.5% of the supply).
A critical difference between DogeBonk and Bitcoin is that the former cannot boast even a fraction of innovativeness of the latter. Bitcoin was created from a scratch and was a revolutionary technology for its time. Bitcoin uses its own blockchain of the same name. It opened the gates for other cryptocurrencies and appeared when the cryptocurrency industry and infrastructure didn't exist. In contrast, DogeBonk is a product of the modern days when most tokens are built on the existing blockchains created by someone else and offer similar options associated with automated yield farming.
DogeBonk uses a taxation system. The 5% tax is applied per each transaction. This money is distributed among all the DogeBonk holders. That's how DogeBonk incentivizes people to acquire and hold the DOBO tokens. On top of that, another 5% tax goes to a permanently locked liquidity pool to increase the token’s scarcity. All the liquidity pool tokens have been permanently locked up and the ownership of the contract is renounced. That's the way how DogeBonk has fought inflation (although inflation itself is not a pure evil as it stimulates economic growth).
As of February 2024, the DogeBonk token price is $0.0000000058. The market cap is between $3.2 and $3.4 million which places this token to a position between roughly 1250 and 1750 by this measure. This is far below the metrics of successful cryptocurrencies. However, given that there are thousands of active crypto tokens on the market, this position is at least in the upper half.
The token saw its best price shortly after the launch in November 2021. The all-time high for the DOBO was $0.000000384 on November 23. In December, DogeBonk made headlines by sending a physical representation of the DogeBonk coin in space to celebrate Elon Musk's birthday. Musk, an avid Dogecoin supporter, promised that they will send Dogecoin to the literal Moon so the DogeBonk community decided to outstrip him and send DogeBonk before he sends Dogecoin. However, this PR campaign didn't save the DOBO price from falling over. The crypto rally of 2021 has ended and the DogeBonk price declined significantly in a short time span.
As the token doesn't have an official team, no one cares about adding DOBO to the rosters of huge exchanges. It makes the token almost invisible and hard to acquire. However, there are ways to buy DogeBonk anyway. We'll highlight them in the chapter below.
DogeBonk is available on a centralized exchange Bilaxy and on the biggest decentralized exchange PancakeSwap. Also you can acquire DogeBonk through swapping on Jupiter, a Solana liquidity aggregator. None of these platforms support fiat currencies, meaning that you will need another cryptocurrency to exchange it for DOBO.
If you decide to use Bilaxy, check first if the exchange is available in your country. If it's available, check if the exchange is trustworthy. If you can't be sure that using it is safe, then, better decide in favor of a different option.
Buying on DEXs (Jupiter and PancakeSwap) is not that hard. It is operated via swapping. Both platforms warn that exchanging DOBO involves risk.
To buy DOBO on Bilaxy you will have to register an account and undergo a KYC check. You will need to deposit some ETH and then sell it for DOBO. You can look for instructions on the Bilaxy website.
Swapping tokens for DOBO on Jupiter and PancakeSwap is easier. You just should connect your crypto wallet and exchange some tokens for DOBO right on the homepage of these exchanges.
To get ETH or other cryptocurrency you can use any reputable crypto exchange available in your locations that supports a Buy with a card feature. Most huge exchanges have such a feature that allows users to buy crypto by card.
We cannot give investment advice. Cryptocurrencies are unpredictable. Based on the info we have about the DOBO past trajectory, the token can enjoy some growth in the future triggered by the overall crypto market rally. Clear reasons for independent growth of the DOBO token are absent. More than that, the token is growing slower than most other BSC-based tokens and cryptocurrencies in general.
It's safe to say that the creators of DogeBonk didn't have any serious ambitions when they were creating their cryptocurrency. Right on the website they claimed that $DOBO is not an investment and that the token was created as a joke and a parody.
The website warns that the DOBO creators are not responsible for potential losses and don't promise any profit from the token. Although the Dogecoin creators were describing their project in a similar vein, DOGE managed to skyrocket thanks to the community power and many endorsements from influential people. It doesn't seem that DogeBonk has high chances of becoming as successful as Dogecoin.
DogeBonk (DOBO) is another parody token resembling Dogecoin. The project is governed by the community and has little to no development. Although the token is not likely to be a lucrative investment, it can be used for portfolio diversification or other purposes. As of February 2024, the token is available on Bilaxy, PancakeSwap, and Jupiter where it can be bought for other cryptocurrencies. You can't buy DOBO for fiat money.