Why is Dogecoin falling 3.1% while EverGrow Coin sees breakout?

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Dogecoin

The EverGrow Coin this week teased a new collection of 15,000 unique NFTs, what is behind the current breakout in EverGrow Coin? 

The price of Dogecoin is down 3.1% today with DOGE trading at $0.1369. But amid a wider crypto market downturn the popular newcomer EverGrow Coin is seeing a breakout in its price as high as 15%. 

Usually with Bitcoin falling in price (down 4.4% today) other altcoins struggle to make any gains. 

So what is behind the current breakout in EverGrow Coin

 

EverGrow Coin sees massive volume after DigiFinex listing

EverGrow Coin was listed on the top 10 crypto exchange DigiFinex earlier this April, sparking the highest trading volume for $EGC all year. The price of EverGrow Coin today is $0.0000005079 on DigiFinex, a 16% increase from lows of $0.0000003862 in the past 24 hours.

On the BitMart exchange, the EverGrow Coin price is as high as $0.0000005331 – prices that equal the EverGrow Coin price at the beginning of the year. 

The popularity of EverGrow Coin is thanks to an ambitious roadmap that’s finally nearing completion six months after the project launched, in September last year. Investors have been eyeing up a new NFT marketplace set to launch on the Binance Smart Chain, which will allow users to put up NFTs as collateral in exchange for crypto loans for the first time ever. 

The EverGrow Coin this week teased a new collection of 15,000 unique NFTs. This is believed to be a final step before the NFT marketplace finally drops, and brings a new surge in attention for EverGrow Coin. 

 

EverGrow Coin set for massive coin burns

Dogecoin was undoubtedly one of the top crypto tokens last year, as it rallied to an all-time high of $0.7376 in May last year. Dogecoin is currently the 11th largest cryptocurrency with a market cap of over $18 billion. With strong backing from key figures like the Tesla CEO Elon Musk and investor Mark Cuban, Dogecoin is unlikely to be dropping out of the crypto top 20 anytime soon.

However, one of the key differences between Dogecoin and EverGrow Coin is that Dogecoin has an unlimited supply. Anyone can mine more Dogecoin, which becomes a source of long-term inflation. Therefore Dogecoin needs to continue to make sure its popularity outpaces the increasing supply of $DOGE tokens. 

EverGrow Coin on the other hand is a hyper-deflationary token, and the team of top developers and investment experts have made sure it builds upon the successes of Dogecoin – and goes a little further. EverGrow Coin has a finite supply of 1,000,000,000,000,000 $EGC tokens and already 52.85% of those have been permanently removed from the supply.

The EverGrow Coin chairman Sam Kelly expects to continue burning 5 trillion $EGC tokens every month, removing them permanently from the supply. This will help to boost the EverGrow Coin price long term and is a big part of the attraction of this top crypto altcoin for investors.

 

Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.

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