Why is Teddy Doge crypto up over 250%? Is it scam coin?

March 22, 2022 07:31 PM AEDT | By Raza Naqvi

Why is Teddy Doge crypto up over 250%? Is it scam coin? — Image source: © Tomeqso2 | Megapixl.com

Why is Teddy Doge crypto rising?

The surge in the price of TEDDY crypto could be due to the announcement that it has eliminated the entire transaction tax. On March 21, it was announced on Twitter that Teddy Doge had eliminated entire transaction tax, which would help the project keep the buyers and sellers balanced.

Meanwhile, digital asset management platform Bitrue announced on Twitter that Teddy Doge had entered the BTR Vote with 45 million TEDDY Staking Rewards.

Bitrue said that depositors for TEDDY tokens would be available on March 22, and if it wins the vote, it will commence trading with a USDT soon.

What is Teddy Doge?

Teddy Doge is a multifunctional swap that integrates exchange, transaction, wallet, farm, and chart according to its official website. The swap called TeddySwap is a blockchain-based automated market-making (AMM) decentralized exchange (DEX).

Additionally, the TeddSwap is not only a DEX but also a collection of reward contracts, governance, and operations.

TEDDY is the native token of Teddy Doge and can be used for making payments on the network and for governance purposes.

Bottom line

The Teddy Doge crypto is based on the Binance Smart Chain (BSC), and many cryptocurrencies on the BSC have turned out to be scam coins in the past. Therefore, it is advisable to remain sceptical and does thorough research before investing in cryptocurrencies like the TEDDY token.

According to CoinMarketCap, the TEDDY crypto's rank is 2882 based on market capitalization, and its total supply is 14.97 billion tokens. Meanwhile, the self-reported circulating supply is 1.8 billion TEDDY tokens.

Also Read: What is Celo crypto and why is its price skyrocketing?

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