Elon Musk aka ‘The Dogefather’, is arguably one of the most powerful men in the world, with his tweets and actions often causing the price of Bitcoin, Dogecoin and other cryptos to rise and fall dramatically. It’s no surprise then, that Musk’s recent purchase of Twitter had a huge effect on DOGE, sending it, if not quite to the moon, then at least into space, rocketing from around $0.07 to $0.155, then landing back down at $0.08, most likely due to the FTX scandal. Orbeon Protocol (ORBN) on the other hand, sold out just days into its stage one presale, and has been unaffected by other market factors, currently selling for $0.0144, up 260% from $0.004.
Why did Orbeon Protocol sell out of its presale so quickly?
Orbeon Protocol is a new launchpad and decentralized investment platform, which is currently in presale, meaning that investors who are looking for exceptional profits, are buying into its native token ORBN.
Orbeon Protocol differs from traditional launchpads by using fractionalised NFTs to represent the equity of startups looking to raise capital on the platform, available for purchase as low as $1. If the project meets its funding goal, the F-NFTs are exchanged for tokens, if however, the project does not meet its goal, then all purchasers are refunded their initial amount using code in the F-NFT’s smart contract.
Unlike Dogecoin, Orbeon Protocol’s token has real utility, offering discounts on trading fees in their built in exchange, and staking rewards for holders, among other benefits. It’s clear that investors are seeing this project as bullish in a bearish market and snapping up ORBN at a discount. Orbeon Protocol is one to watch.
Not only does the ORBN token promise huge gains when it leaves presale, with market analysts predicting a price of around $0.24, but also it will offer its holders the chance to invest in other exclusive projects.
Can Dogecoin make it to the moon with Elon’s help?
Unlike Ethereum or Solana based tokens, (or Orbeon Protocol’s F-NFTs), Dogecoin has no ability to interact with smart contracts, making it, in that respect, more similar to Bitcoin. On the other side of the coin, there is no fixed supply, making it an inflationary token, perhaps comparable to Axie Infinity’s struggling Smooth Love Potion (SLP).
Neither SLP or BTC can really compare to Dogecoin though, which whilst initially made as a parody of other cryptos, has captured the hearts and minds of many investors, especially those who are fans of Elon Musk.
His recent acquisition of twitter caused a huge spike in Dogecoin’s price, with speculation that Musk may integrate the coin into the platform, similarly to how Dogecoin was integrated into Reddit as a tipping bot from 2014-2017.
Musk continues to excite traders and pump the coin, even naming one of his satellites DOGE-1 in November last year. What comes up must come down though, and the price of DOGE is now hovering around the $0.08 mark. That’s a long way off from the lauded $1 price range that Dogecoin fans would like to see, but it is an impressive gain from its early days when it was worth fractions of a cent. Whatever happens next, a recent study published in Bitcoinist, shows that Dogecoin holders are among the least stressed crypto holders.
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