The meme crypto rally is far from over. Investors appear to be enamored by the impressive rise of Dogecoin (CCC:DOGE-USD) and Shiba Inu (CCC:SHIB-USD) in recent months. However, smaller, newer meme tokens are popping up everywhere. Today, Buff Doge Coin (CCC:DOGECOIN-USD) is gathering a tremendous amount of attention. Investors seem to be intrigued by the Buff Doge Coin crypto. So what exactly do you need to know?
The search for the next meme cryptocurrency will always be underway. However, this search has heated up in recent days, likely sparked by the record rallies in cryptos like Shiba Inu. Given the surge in Buff Doge Coin today (up more than 50% at the time of writing), it appears we’re in a full-on speculative mania.
Let’s take a look at what the Buff Doge crypto is, and what makes this different than Dogecoin.
What Investors Should Know About the Buff Doge Coin Crypto
With a name like Buff Doge Coin and a ticker DOGECOIN-USD, it’s clear this meme token is intent on riding on the coattails of Dogecoin. Nothing wrong with that. There’s no hiding the fact this is another meme token that’s looking to catch fire as Dogecoin has.
Given the speculative nature of the crypto market right now, one can’t fault enthusiasts for trying to make a quick buck. Indeed, that’s what’s driving most of the interest in this space to begin with.
Currently trending on Twitter, Buff Doge Coin has garnered a tremendous amount of attention. Maybe it’s the name. Or the meme-worthy photo ascribed to the token (I’d invite investors to check out the webpage on this one).
Buff Doge Coin appears to differentiate itself through its hyper-deflationary nature. The cryptocurrency will accelerate its token burn over time — doubling the quantity of tokens burned each time. Additionally, the creators of this token are focused on a “serious mission of rescuing animal shelter and environment such as forest conservation.” Notable aims, indeed.
For unfamiliar investors, Dogecoin employs an inflationary model, meaning that the supply of DOGE increases over time. Some, like InvestorPlace Markets Analyst Thomas Yeung, have argued that this limits upside potential.
Right now, this token is gathering quite the following. Accordingly, it appears the online presence Buff Doge Coin crypto has built is impressive. Those seeking extremely aggressive crypto plays may want to keep this one on the watch list right now.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.