Ever since Dogecoin appeared, the market has discovered the niche of meme tokens. Following $DOGE, many have tried to achieve the same success with similar projects, with different results.
Today we will talk about Sincere Doge, a new initiative that seeks to enter the industry with long-term plans. Our quick review will provide an unbiased analysis of the main features of the project.
A Brief Description Of Sincere Doge
When asked about the original idea, the Sincere Doge team mentions Hachi, a popular movie from 2009. The project kicked off in February 2022, and we could draw a quick outline of the initiative as follows:
- Sincere Doge provides the market with a decentralized cryptocurrency called $SDOGE.
- The team claims that their goal is to promote cryptocurrency adoption while also helping rescue dogs in need.
The token runs on the Binance Smart Chain, using the popular BEP-20 protocol. The new meme tokens have an essential advantage over similar tokens that have appeared in the past. In other words, projects like Sincere Doge can learn a lot by looking at the successful (and unsuccessful) stories of the market.
Sincere Doge brings a static mirroring system to market, joining the popular trend of passive crypto income. In simple terms, transactions allow merchants to receive more $SDOGE tokens.
The team’s vision
The whole vision of the team revolves around the concept of distributing symbolic rewards in an automated way. The project plans to take advantage of the combination between the meme token hype and its tokenomics.
Sincere Doge is trying to assert its presence in a crowded market by rewarding long-term investors.
As many cryptocurrency enthusiasts know, the market is always looking for guarantees about the seriousness of a blockchain project. Sincere Doge is a decentralized platform that is based on its online community.
The technical documentation of the project mentions concepts such as trust and openness as milestones in the construction of a lasting organization. Without a doubt, the importance of trust in the cryptocurrency industry is growing. Modern crypto projects focus on transparent communication with their community through social networks.
In this context, a typical key performance indicator (or KPI) for a blockchain project is the size of its online community. Valid projects manage to grow their audience by earning the trust of the market. While we can’t speak for the market itself, Sincere Doge is taking some steps in this direction. The team has already obtained the project’s KYC and audit certifications and decided to block most of the LP tokens. As mentioned in their white paper, Sincere Doge promises that the team will not pull the rug out on their community. Locking in liquidity is a typical way of providing this type of collateral to traders.
The distribution of $SDOGE is relatively simple since it consists of a division between the liquidity of the system (40%) and the pre-sale operation (60%). The team claims that it will not own any tokens in this system.
The Tax Mechanism
Each transaction will give rise to the application of an 8% tax, which we can break down as follows:
A look at the Sincere Doge project roadmap
The work was divided by the team into four stages. The following subsections provide more information on this.
Phase 1 – Q4 2021
The team delivered the initiative’s official website and its whitepaper by the end of 2021. In addition, the project launched its first marketing operations on social media platforms.
Phase 2 – Q1 2022
This phase saw the completion of smart contracts, KYC and audit operations, and the listing of tokens on PancakeSwap.
The team expects to close Q1 with 5,000 token holders, while $SDOGE has already hit CoinMarketCap and CoinGecko.
Phase 3 – Q2 2022
In the second quarter, the team plans to reach 100,000 token holders. In addition, we will see the launch of SincereDogeSwap and the first charitable donations will begin.
Phase 4 – Q3 2022
By the third quarter, the project will launch its NFTs, and donations will help build an animal sanctuary.
All cryptocurrency enthusiasts know how crowded the meme coin niche market is. To survive, new initiatives in this sector try to bring new recipes to achieve long-term success.
Sincere Dux is a “social experiment” (in the words of its founders) that seeks to maintain a long-term vision in the sphere of meme coins. We will see how their community will evolve and what new initiatives the team will announce.