A few days ago, someone asked me which Dogecoin they had. The price was quoted at 0.0741. I asked about the market cap, and they went silent.
Today, I searched by the symbol DOGE. Of the 10 results, 4 had the symbol DOGE, with prices ranging from 0.073961 to 0.074516—a total price spread of 0.75%, making them look like the same thing. But their market caps were $1.28 million, $1.39 million, $4.55 million, and $190 million. The largest was about 147 times the smallest. The prices line up, but the market caps don’t. That’s the only starting point for a judgment I’d feel safe making.
Another set of data from that day also shows how crowded things are: Of 20 newly launched topics, 4 were labeled as same-name tokens launched in quick succession. One of them had 6 contracts under the same name.
$DOGE on the Dogecoin mainnet has no contract address. The four prices and four market caps can all appear in the same table at once, and none of them is necessarily wrong.
#Dogecoin #Web3
The above is only a summary of an identification method, not investment advice.
Today, I searched by the symbol DOGE. Of the 10 results, 4 had the symbol DOGE, with prices ranging from 0.073961 to 0.074516—a total price spread of 0.75%, making them look like the same thing. But their market caps were $1.28 million, $1.39 million, $4.55 million, and $190 million. The largest was about 147 times the smallest. The prices line up, but the market caps don’t. That’s the only starting point for a judgment I’d feel safe making.
Another set of data from that day also shows how crowded things are: Of 20 newly launched topics, 4 were labeled as same-name tokens launched in quick succession. One of them had 6 contracts under the same name.
$DOGE on the Dogecoin mainnet has no contract address. The four prices and four market caps can all appear in the same table at once, and none of them is necessarily wrong.
#Dogecoin #Web3
The above is only a summary of an identification method, not investment advice.