
If you've bought Dogecoin in the past few weeks, there's a good chance you lost some money.
The Dogecoin price pumped from $0.06 all the way up to $0.15. Even at the top people were still making huge buys in Dogecoin hoping the price would continue to go up. But since November 1st the Dogecoin price has fallen -46%.
There are people out there who will have lost nearly half of their investment in under two weeks.
Investing in Dogecoin is a matter of buying low and selling high. There is huge risk involved, and such a speculative asset is best left to professionals. Or people who have enough time to accurately read market sentiment and trading figures and can accurately estimate when it's time to sell.
But what about traders who want to hold a cryptocurrency long-term? Is Dogecoin a good investment? Or is a token like EverGrow better, as it pays you passive income and burns tokens every time a transaction is made?
Read more about EverGrow here: https://evergrowegc.com/
Did you know that Dogecoin is inflationary?
Some 5 billion DOGE enter supply each year, giving Dogecoin an annual inflation rate of 3.8%. It means that overtime the price of Dogecoin is actually designed to remain stable.
The Dogecoin price is obviously very volatile in the short-term. The value of Dogecoin is almost entirely dictated by stories in the media and hype – which makes it even more important for investors to sell their DOGE for profit before inflation kicks in.
EverGrow meanwhile is deflationary. Everytime you buy or sell EverGrow you pay a 14% transaction tax, which goes towards paying stablecoin passive income (in BUSD) to all holders and burning EGC tokens.
So far $38 million BUSD has been paid out and 53.3% of the EverGrow supply burned.
It's a high tax to pay – but the reward is the security of knowing you have an asset that with every price pump and price fall is paying you passive income and reducing its own supply.
Read more about EverGrow here: https://evergrowegc.com/
EverGrow passive income depends on two factors: the size of your position, and trading volume.
Let's say you bought $1,000 of EverGrow for a token price of $0.0000002 just over a year ago (5 billion EGC tokens). EverGrow trading has averaged around $2 million per day in the past year. Plugging these figures into one of the EverGrow calculators shows you could have made $675 back in BUSD passive income in a year.
This kind of passive income return might not match a 100% price pump in Dogecoin. But it's income that was made without the stress of watching Dogecoin price charts, or risking a huge loss on your portfolio.
Instead, you could have left your EverGrow position alone – forgot about the EverGrow price – and seen BUSD deposited in your crypto wallet every few days.
Today, the EverGrow price has fallen to $0.00000009 in the bear market. This makes now a great opportunity to buy an EverGrow position and capitalise on a greater share of BUSD passive income when the next bull market comes around.
It's a safer way to make your money go further, with less risk.
With EverGrow you'll also be able to relax knowing that a % of trading volume will help your portfolio through passive income rewards and token burning. Unlike Dogecoin, EverGrow is a token you can include in an investment plan that looks at making big ROI in the next 3-5 years.
Read more about EverGrow here: https://evergrowegc.com/
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.