DogeBonk

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Discover DogeBonk's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is DogeBonk?

DogeBonk (DOBO) is a deflationary meme token on the Binance Smart Chain (BEP20) with a current supply of 582,959,739,166,037 tokens. It has a 10% tax on all transactions, with 5% distributed to holders and 5% added to a locked liquidity pool. The token is known for its unique marketing stunts, including launching a crypto wallet into space, and offers a platform called Memetools for listing and finding new meme coins.

How is DogeBonk used?

DogeBonk (DOBO) is a cryptocurrency token built on the Binance Smart Chain (BSC) with deflationary properties. It has several key uses and features:

  1. Reflections: DogeBonk offers reflections, which are rewards earned by token holders. A 10% tax is applied to all transactions, and 5% of this tax is redistributed to existing token holders, providing a passive income stream.

  2. MemeTools: DogeBonk is associated with MemeTools, a platform that aggregates data on meme tokens, similar to CoinMarketCap or CoinGecko. MemeTools also includes a "rug checker," a premium feature that evaluates the likelihood of a token being a scam. This feature is accessible to users holding at least 3 billion DOBO tokens.

  3. Liquidity Pool: The other 5% of the transaction tax is split, with half traded for BNB and the other half remaining as DOBO tokens. These tokens are deposited into a liquidity pool on PancakeSwap, ensuring liquidity for traders.

  1. Deflationary Mechanism: The token supply is continually decreasing due to a burn wallet that receives a share of the static rewards, making it deflationary.

These features and uses make DogeBonk a unique token in the cryptocurrency space, particularly among meme tokens.

How do I store DogeBonk?

To store DogeBonk (DOBO) tokens, you have two primary options:

  1. Centralized Exchange (CEX): You can store your DOBO tokens on a centralized exchange like KuCoin. This method provides easy access to various investment products and features, such as spot and futures trading, staking, and lending. The exchange will securely hold your funds, but you must ensure the exchange implements strict security measures to protect your assets.

  2. Non-Custodial Wallets: For greater control and security, you can store your DOBO tokens in a non-custodial wallet. This includes hardware wallets, Web3 wallets, or paper wallets. This option gives you complete control over your private keys, but you must store them securely to avoid losing your tokens.

How to buy DogeBonk?

To buy DogeBonk (DOBO) tokens, follow these steps:

  1. Find a Centralized Exchange (CEX): Look for a reliable CEX where DogeBonk is listed. You can refer to Coinmarketcap.com's Markets section to find the list of CEXs that support DOBO.

  2. Use a Decentralized Exchange (DEX): If DogeBonk is not listed on a CEX, you can use a DEX that supports the blockchain where DOBO resides. Popular DEXs include PancakeSwap.

  3. Set Up a Crypto Wallet: Download and set up a crypto wallet like Trust Wallet or MetaMask that is supported by the DEX you choose. Make sure to keep your seed phrase safe and note your wallet address.

  1. Buy Base Currency: Purchase a base currency like BNB or ETH from a CEX like Binance or KuCoin. Transfer this currency to your crypto wallet.

  2. Connect to DEX: Connect your wallet to the DEX by following the instructions on the DEX's website. This will allow you to trade your base currency for DOBO.

  3. Trade for DOBO: On the DEX, select your base currency as the payment and DogeBonk as the coin you want to acquire. Enter the amount you want to trade and confirm the transaction.

  1. Verify the Smart Contract: If DOBO does not appear on the DEX, find its smart contract address on a blockchain explorer like BscScan.com and enter it manually to ensure you are trading with the official token.

  2. Confirm the Swap: Once you have set up the trade, click the "Swap" button to complete the transaction. Your wallet will ask you to confirm the action.

Remember to always be cautious of scams and ensure you are using official sources and contract addresses.

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History of DogeBonk

DogeBonk (DOBO) is a deflationary meme token built on the Binance Smart Chain (BSC). It was first launched on May 3, 2021, but its price plummeted within a day. The project remained dormant for several months until it was revived by members of the 4chan forums in October 2021.

The founders of DogeBonk are unknown, and the project is community-led, with no central entity in control. The initial supply of DogeBonk was 1 quadrillion DOBO tokens. At launch, 30% (300 trillion) of these tokens were burned by sending them to an inaccessible wallet. Another 2% (20 trillion) was reserved for development, leaving a community supply of 680 trillion tokens.

DogeBonk gained significant attention due to its unique marketing stunts, including sending a crypto wallet attached to a stratospheric weather balloon to the edge of space, making it the first meme coin to achieve this feat. This publicity stunt gained widespread media coverage and recognition.

The token has deflationary properties, with a 10% tax applied to all transactions. Of this tax, 5% is redistributed to existing holders, and the other 5% is added to a locked liquidity pool to ensure price stability. The liquidity pool is locked forever and cannot be accessed or abused by anyone.

DogeBonk has also launched a platform called MemeTools, which is a data aggregator similar to CoinMarketCap or CoinGecko, but focuses on meme tokens. It also offers a "rug checker" feature, which evaluates whether a token is likely to be a scam.

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How DogeBonk works

DogeBonk (DOBO) is a cryptocurrency built on the Binance Smart Chain (BSC) with deflationary properties. Here's how it works:

Tokenomics
  • Supply: DogeBonk has a total supply of 1 quadrillion tokens, with 30% of them burned at launch.
  • Tax: A 10% tax is applied to all transactions. This tax is divided into two parts:
    • Reflections: 5% of the tax is redistributed to existing DogeBonk holders, providing them with static rewards.
    • Liquidity Pool: The other 5% is used to add liquidity to the market by trading half for BNB and half remaining as DOBO tokens. These tokens are deposited into a liquidity pool on PancakeSwap, ensuring perpetual liquidity.
Reflections
  • Reward System: DogeBonk holders receive reflections, which are rewards earned for owning the token. The reflections are calculated based on the amount of DOBO tokens held.
  • Reflection Tracker: Users can track their reflections on the DogeBonk website by entering their email address.
MemeTools
  • Platform: MemeTools is a data aggregator similar to CoinMarketCap or CoinGecko, focusing on meme tokens. It includes a "rug checker" feature to evaluate the legitimacy of tokens.
  • Listing: Projects must burn a certain amount of DOBO tokens to list on MemeTools, which helps smaller, community-driven projects gain recognition.
Community and Development
  • Community-Led: DogeBonk is a community-driven project with no central entity in control. This allows anyone interested to contribute to its development.
  • Audits: The token has been audited by independent experts, ensuring its reliability.
Market and Trading
  • Exchanges: DogeBonk can be traded on various exchanges, including decentralized exchanges (DEXs) like PancakeSwap.
  • Wallets: Users can store and manage their DOBO tokens using wallets like Trust Wallet.

Overall, DogeBonk's unique features, such as reflections and MemeTools, set it apart from other meme tokens and provide additional value to its holders.

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DogeBonk's strengths

The token DogeBonk (DOBO) has several strengths that contribute to its popularity and potential for growth:

  1. Deflationary Properties: DogeBonk has a 10% tax on all transactions, with 5% distributed to existing holders and 5% added to a locked liquidity pool. This mechanism helps maintain price stability and rewards holders for their ownership.

  2. Community Engagement: DogeBonk has a strong community backing, which has been instrumental in its revival and growth. The community has been involved in creative marketing stunts, such as launching the token into space, which garnered significant attention.

  3. MemeTools Platform: DogeBonk offers a unique service called MemeTools, a data aggregator focused on meme tokens. This platform provides a "rug checker" feature to evaluate the legitimacy of tokens, making it a valuable resource for investors.

  1. Reflections and Rewards: DogeBonk offers reflections, which are rewards earned by holders for owning the token. This incentivizes long-term holding and encourages community participation.

  2. Fair Launch and Security: DogeBonk had a fair launch with no presale, and measures were taken to prevent bots from dominating the market. Additionally, the liquidity pool tokens are locked forever, and the ownership of the contract has been renounced, ensuring a secure and transparent environment.

These strengths have contributed to DogeBonk's popularity and potential for growth in the cryptocurrency market.

DogeBonk's risks

DogeBonk (DOBO) carries several financial risks. Firstly, it is considered a high-risk investment due to its volatile nature and limited historical data, making it difficult to predict its future performance. The token's price has experienced significant fluctuations, including a 70% drop in value over a short period, highlighting its susceptibility to market downturns.

Another risk is that DogeBonk is a meme token with limited utility, which can lead to a lack of sustained interest and investment. Its primary features, such as passive income through reflections and access to premium MemeTools features, may not be enough to maintain long-term value. Additionally, the token's reliance on a 10% tax on transactions to redistribute rewards and add liquidity raises concerns about its sustainability.

Furthermore, DogeBonk's community-driven initiatives, such as sending a token to space, may be seen as gimmicks rather than substantial value additions. This, combined with the token's low price and high supply, increases the risk of significant losses for investors. Overall, investing in DogeBonk should be approached with caution and a thorough understanding of its risks.

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Did DogeBonk raise funds?

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DogeBonk’s team

  • DogeBonk (DOBO) on Binance Smart Chain: The project is community-driven, meaning there is no specific team running it. Instead, it relies on community involvement and contributions for its development.
  • DogeBonk (DOBO) on Ethereum: The team behind this version of DOBO is different from the one on Binance Smart Chain. The Ethereum-based DOBO has a distinct team, but their names are not specified.

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