Today, let's talk about Dogcoin. Some friends want to know how the currency circle has increased by hundreds, thousands, and tens of thousands of times. Some friends just entered the circle and felt that the spot market of the exchange was too slow and the contract was difficult to grasp, so they wanted to study Dogcoin. I heard that there was the meme legend of Pepe first, and then Bome was listed on Binance in a few days.
I have briefly mentioned Dogecoin before, and a friend suggested that I should talk about it in a more professional and rigorous way. So I will talk about it from the project side, on-chain contracts, decentralized exchanges, automatic market makers, how to issue coins, how to operate, the principles on the chain, etc.
NO! I think it’s better to use plain language so that everyone can understand the principles and processes, isn’t it?
Officially begin
Before I entered the market, I thought that the on-chain DEX was like this
This is what happened after I joined the game
There is also this
What I said before about zero and becoming nothing is just like that. There is no liquidity, no opponent is willing to take over, and the dealer runs away after harvesting.
Here I take Pepe's experience as an example:
2023: Pepe community is launched
April 5 – Pepe's Twitter account created
April 6 – Pepe's Telegram channel created
April 21 – Pepe's Discord account created
Near 👗 BYLK688
Nowadays, local dog projects usually have official websites, Twitter accounts, and paper airplane communities.
Launch DEX fund pool
Starting from the early morning of April 15, Pepe launched the Dex fund pool. The earliest was the Pepe/WETH trading pair launched on Uniswap V2. From then on, the old irons could fight in and out, and the K-line began to dance with it.
Nowadays, there are a lot of local dog projects launched every day, most of which do not survive for more than three days, and most of the projects that exceed three days also stop at decentralized exchanges.
Community operation begins
After searching Twitter, I found that almost no one was discussing Pepe on the 16th, except for Pepe's official Twitter account.
On the 17th, discussions about Pepe started to blossom everywhere, and most of them were from small and medium-sized KOLs. It seemed that most of them were paid to do the job, which was obviously a marketing trick.
Social fermentation
From the 17th to the 20th, the social network began to ferment in multiple rounds. A large number of KOLs began to promote Pepe, and a large number of fans followed Pepe's Twitter. With the fierce pull of the market, the market began the first wave of fomo, and a large number of social network users fell into the first round of frenzy.
Listing on the exchange
Just as rational analysts in the community began to worry about how far Pepe could go, the exchanges took action.
19th – Gate announces the launch of Pepe
21st – OKX launched a vote on whether to list Pepe, which gave Pepe a boost.
22nd – Chip prices stabilize
25th – Matcha launches Pepe voting
Start high-end operation
28th – Pepe begins his entry into Times Square
29th – Pepe reaches number one in social media engagement
Early May – Social media spread that Pepe beat out top Layer1 projects like Sui
May 6 – Binance announces listing of Pepe
The market views Binance as the last stick, and the ultimate goal of every local dog is to be listed on Binance.
in conclusion:
Now the cost of launching a local dog project can be regarded as agreed to be zero, and the dealer can run away whenever he wants. There are many local dog projects launched every day, and most of them will return to zero in the short term and become air.
Tugou’s journey: establishing a community → launching a decentralized exchange → having community operations KOLs shout orders → launching a centralized copycat exchange or a centralized secondary exchange → launching a primary centralized exchange.
The probability of buying the next PEPE is similar to or even lower than winning the first prize of the Double Color Ball, because you can't hold on to it for that long.
PS: The risk of local dogs is too great, please be cautious, fellow Taoists!
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