What is Buff Doge Coin?
Buff Doge Coin’s hyper deflation technique
Tax policies
Buff Doge Coin vs Dogecoin: what’s the difference?
Choose your meme coin
The cryptocurrency world recently saw the rise of another meme coin.
Last year it was Doge Coin (DOGE). This year it seems the love for doggos isn’t going anywhere, as Buff Doge Coin (DOGECOIN) seems to be drawing a lot of cryptocurrency fans’ attention.
So, what is Buff Doge Coin? What makes this token different from its predecessor, Dogecoin?
Find out more details on Buff Doge Coin below and what sets it apart from Dogecoin.
What is Buff Doge Coin?
Short answer: An eco-concious meme coin that’s famous for burning coins.
Buff Doge Coin (DOGECOIN) is a decentralized meme coin that was created in August 2021, as published in BSC News.
Sources have observed that this meme coin’s predecessor, DogeCoin (DOGE), and its popularity seems to have inspired the creation of a “Buff” version of the currency.
Branding itself as the “King Of Memes”, this meme coin has a total supply of 99.9 trillion, a circulation rate of 99.9 billion, and is valued at US$0.000000003768, according to CoinMarketCap on 18 May 2022.
Buff Doge Coin’s hyper deflation technique
Hyper deflation: When a currency’s purchasing power rises at hyper speed.
DOGECOIN has several unique characteristics. However, their most notorious trait has to be their hyper deflation mechanism, known as the “Double Burn Protocol“.
At different stages, Buff Doge Coin’s developers will burn – remove tokens from circulation. In every coin burn, they increase the number of tokens they obliterate by 100% i.e. they double the amount.
With billions of DOGECOIN in circulation today, the burning mechanism of this coin happens more often than other coins.
Tax policies
Every DOGECOIN sale or purchase will be subject to 10% tax.
The tax amount is split into two parts:
- 5% of taxes are redistributed among DOGECOIN holders
- 5% of taxes are added to liquidity
Buff Doge Coin vs Dogecoin: what’s the difference?
Even though they are both meme coins, there are significant differences between these coins.
Creation
Dogecoin was satirically created in response to the popularity of cryptocurrencies back in 2013.
However, despite the original intention, Dogecoin gained popularity worldwide, which led to a steep increase in its value.
Buff Doge Coin is a meme coin that upholds a serious mission.
They aim to provide help for animal shelters and environmental issues, such as forest conservation. The coin developers believe that all of these are interconnected to each other.
They say, “when we destroy nature, we also destroy humans and animals as “We Are One””. Destroy one element, and we also destroy the other elements. To address this issue and prevent it from going even further, Buff Doge Coin developers have dedicated profits from every transaction to animal and forest conservation.
Coin burning mechanisms
Community-based burning
In Dogecoin, instead of the developers, the whole community is responsible for burning the cryptocurrency. For DOGE, coin burning is a voluntary act known as Dogeparty.
Double-burning
Meanwhile, multiple Buff Doge Coin prediction articles mentioned that the mechanism burns double the amount of the coins from the previous burn. Therefore, someday in the future, the burning mechanism will literally burn 100% of the remaining DOGECOIN in the market.
Choose your meme coin
The rise of both Doge Coin and Buff Doge Coin has taught us not to underestimate the power of a funny-looking dog on a coin.
There are also other different meme coins that are increasing in popularity every day.
If you’re over memes and just wanna start trading, sign up for Zipmex here.
