"Dogechain hype" did I just lose my $10

I have sworn never to buy any tokens on smartBCH be it a pre-sale or a fair lunch since the last time I lost over 4 BCH on Emberswap $Fire token and the native token $EMBER. However, I got carried away by the hype of the Dogechain community and took a one-time chance. So, I entered the Dogechain community on Telegram to explore the new chain and the community and know more about the chain.

My major interest was to find out how to create an NFT project on the chain, but the enthusiasm and passion of the community got me carried away and I aped into a token project that was about to launch on the same day I joined the community.

It was something surprising to see how passionate and enthusiastic people can be about the name "Doge" and everything related to it. It was clearly in contrast to what I have experienced in the smartBCH community. To tell you the degree of their enthusiasm, a telegram group created for the token launch project reached over 600 members within hours after its creation. It was so huge and busy that I found it hard to find space to say much in the group.

The fact that such a huge amount of enthusiasm could be gathered by a single person with just a tweet shows how excited people are about "Dogecoin" and the new defi chain. To be honest I haven't experienced such a passionate and enthusiastic community before. No such trash talk and fear of being rugged questions were thrown at the dev, and even though it's known that he was working alone nobody cares, all they were saying is "when launch seer" and the Doge slogans that were set on fire at the Token Launch event.

The project is created by the same creator of smartdex now fortuneswap on the smartBCH chain. With the enthusiasm and passion of the people in the group, I was carried away by the hype and made a swap of $10 worth in BCH to Dogecoin and then bridge it with the Dogeswap bridge to enter the chain and participate in the token launch. And I was able to buy the tokens on the recommended Dex after several trials which makes me miss buying at the launch price.

Nevertheless, the experience was worth it. It was a good feeling to experience another Defi chain outside of the smartBCH community. And I was happy to see how much genuine excitement people were in investing in a token.

Moreover, it was a good opportunity to learn more about the Dogeswap bridge and the Dogechain. If you have been a multi-crypto user you must have been aware that Dogecoin was created on the Litecoin blockchain. So, having a Dogechain bridge and a native network over the Litecoin blockchain is pretty unique.

Now, back to my $10 investment in the Dogechain token. As expected, those who bought at launch price have started dumping already. Something that I was aiming for a 10x in a few hours is going in the opposite direction and I am afraid that the same thing I have experienced in buying pre-sale or a fair lunch token on the smartBCH network could happen again and I might lose my $10. What I bought with 110 Dogecoin is currently worth 84 Dogecoin on the Dex as shown in the screenshot above, and this might slide down more.

Based on the current trajectory, I don't think the price would remain that low but I think it would take a few days for it to bounce, considering that the token will be auxiliary for a Dex to be launched by the same creator in a few days. So, this price drop is temporary.

Its been a good week, and I have learned a lot about the Dogechain crypto community. I will be back next week to tell you more about this and the DOGEchain.