So, what is WoofWork? Also, what role does the WOOF coin play within its ecosystem? In this article, we will address those and many other questions. Now, before we devote our attention to the WOOF coin, its tokenomics, and use cases, we’ll ensure you understand the ins and outs of the WoofWork crypto project. As we explore this project more in-depth, we’ll also examine the project’s roadmap and community.
After ensuring you are well acquainted with this project, we’ll analyze the WOOF token and focus on the $WOOF price action. You’ll learn where the token has been and what the main levels of support and resistance are. Plus, we will also offer some speculative WOOF coin price predictions.
With all this information on your side, you’ll finally get to answer whether or not you should buy $WOOF. And, to further assist you with that decision, you’ll get to use the WOOF token page that Moralis Money provides you with.
What is WoofWork?
WoofWork is a Web3 freelance marketplace in the making. Yes, it’s important to note that while the project and its WOOF coin are officially live, the platform itself is in the making. Furthermore, the WoofWork crypto project aims to become a leading freelance marketplace where folks can find Web3 gigs and jobs and earn in crypto. This is also where the project’s “Work in Crypto, Earn in Crypto” tagline comes into play.
According to the information on the woofwork.io website, the marketplace will enable its users to hire/get paid in $WOOF, $SHIB, $ETH, and more than 100 other cryptocurrencies.
The project’s About page further outlines what makes WoofWork more attractive than other freelance marketplaces. With its three core advantages, it lists the fact that WoofWork is available worldwide, offers the best fees, and that it prioritizes Web3 gigs.
The About page also introduces the “WoofBosses” and “WoofWorkers” terms. The former refers to users who post work opportunities on the platform, while the latter refers to freelancers who take on those gigs.
Nonetheless, on the About page, one can also learn that the project is planning to launch on the Shibarium network first. However, the vision is to make the platform support multiple chains.
Fundamentals of the WoofWork Crypto Project
One of the core fundamentals of the WoofWork crypto project is its objective to create a crypto-friendly freelance platform. Plus, the plan to initially target the Web3 realm also makes a lot of sense as those users are the ones who are most likely already familiar with how crypto works and would, therefore, be interested in paying and being paid in cryptocurrencies.
Highlights of the WoofWork Crypto Compared to Traditional Freelance Platforms
The WOOF crypto project actually outlines several aspects in which it plans to be better than the currently leading Web2 freelance platforms: Upwork and Fiverr. These are the highlights:
- Availability – While both Upwork and Fiverr face different restrictions (applications required and country restrictions), WoofWork will be permissionless and accessible worldwide.
- Payment Methods of the Future – Both traditional freelance platforms only accept fiat, while WoofWork aims to support hundreds of cryptocurrencies.
- Lower Platform Fees – According to WoofWork, Upwork and Fiverr have fees that reach up to 20%. However, WoofWork plan to stay in the 0%-5% region.
- Service Fees – Due to fiat processing methods, both Fiverr and Upwork have a minimal 5% process fee. Thanks to the highly lean nature of the Shibarium network, WoofWork will have very low gas fees.
- Staking Program – This new Web3 freelance platform plans to offer PoW (proof-of-work) staking program.
- Lucrative Referral Program – WoofWork promises to offer up to 20% referral commissions.
- Identification – Unlike traditional freelance platforms, where KYC is required, WoofWork will not have such requirements.
- Dispute Resolution – Disputes on the WOOF crypto platform will be resolved in a decentralized manner.
- Login – Users won’t need to provide their emails; their Web3 wallets will take care of the login process.
- Decentralized Escrow (DEscrow).
- New Ways to Hire – On WoofWork, users will be able to hire “WoofWorkers” or choose a “WoofPack.”
- Services – While the WOOF crypto platform plans to initially focus more on Web3 services, it aims to support all types of services.
- Governance – The vision of this Web3 freelance network is to establish a DAO that will govern the platform.
WoofWork Collaborations and Integrations
Another important aspect of the fundamental analysis (FA) is looking at the projects with which WoofWork integrates. You can find them in the image below, and we encourage you to investigate them further on your own:
Roadmap of WoofWork
While the WOOF token is already trading, the platform is not yet live. As such, the project’s roadmap is quite important. However, unfortunately, the latter doesn’t provide any clear timeframes. Instead, it sticks to the following six-phase outline:
Based on our analysis, the WOOF crypto project is currently somewhere between phases two and three.
The following image of the WoofWork ecosystem (a.k.a. WoofVerse) may also provide you with an additional overview of where the project is headed. That is, if it manages to deliver:
Although most of the project’s features are not live yet, including Wooferral Program, WoofBurns, POW Staking, and Woof NFTs, you can already engage with the vibrant WoofWork community. The latter is known as WoofPack and is designed to bring folks passionate about Web3 and freelancing together.
The project utilizes various channels, including Discord, Twitter, Telegram, Medium, and YouTube, to create and foster a strong community. If you want to check out these channels, we recommend accessing them via the project’s official website to avoid scams. To do so, hover over the “WoofPack” option in the top menu and then select the “Community” option. Once on that page, you’ll see links to all of the aforementioned outlets:
As mentioned, the project plans to create its own DAO acting as governance, which will be called Woof DAO. Moreover, this will be another utility for the WOOF token.
As for the project’s core team, this is how the “Community” page presents it:
So, the team is not doxxed; however, you can find @woofoshi on Twitter:
What is the WOOF Coin?
The WOOF coin ($WOOF) is the WoofWork crypto platform’s utility token. The WOOF token follows the ERC-20 standard and lives on the Ethereum blockchain. This fungible token went live on January 31, 2023, when its developers executed the minting transaction.
It’s also worth noting that according to the information on the project’s official website, the WOOF coin will migrate to the Shibarium network once the latter goes live.
These are the core tokenomics of the WOOF token:
- Project name: WoofWork
- Tokens symbol/ticker: WOOF ($WOOF)
- Total supply: 7,900,000,000
- Network: Ethereum (planned transition to Shibarium)
- Type: ERC-20
- Initial distribution: 5% marketing, 5% rewards, 10% partnerships, 80% liquidity
- The project claims to have locked the $WOOF liquidity
Use Cases of the $WOOF Token
Since the WoofWork crypto platform is not live yet, the core use cases of the WOOF token haven’t come to fruition yet. So, at the time of writing, you can trade and HODL $WOOF, but you cannot yet use it for any of its intended purposes.
The current vision and plans predict these $WOOF utilities:
- WoofWorkers will be able to earn in $WOOF. Those who will opt for that will get to enjoy 0% platform fees.
- WoofBosses will get to stake $WOOF. Those who do so will get to enjoy 0% platform fees.
- The WOOF token will power PoW staking.
- The Wooferral program will run on $WOOF.
- Woofaversity will run on the WOOF coin and will also burn $WOOF.
- $WOOF will serve as a partner payment token – it will be used for listings on WoofWork.
- The WOOF crypto token will also become the governance token of the Woof DAO.
WOOF Coin Price Analysis
The above logarithmic daily chart clearly indicates the price activity of $WOOF ever since it started to trade until this day. We’ve also marked the minimum and maximum prices of the asset as well as all the more significant levels of support and resistance.
$WOOF listed on February 1, 2023, at $0.0004529 and went on a decent 300%-plus run within the first five hours of trading. The following 20 hours brought on a nearly 60% correction; however, afterward, the price of the WOOF coin rallied further. It reached its highest point – the current all-time high (ATH) level – on February 8, 2023. This level sits at $0.004895.
But following the initial 10x-plus rally, $WOOF flipped its trend, and what followed was a 126-day-long correction. During that period, the price of $WOOF decreased by more than 90%. The lowest point – the all-time low (ATL) level – was set at $0.0002915, which is noticeably lower than the listing price. Since mid-June 2023, the token hasn’t reached those lows again. And, with one short-lived pump to the $0.00045-ish level, the token has been moving mainly sideways around the $0.0003-ish level.
At the time of writing, the price sits at $0.0003312.
WOOF Coin Price Prediction
The above-outlined chart also indicates that the WOOF’s bottom is most likely in. So, if the entire crypto market shows signs of strength, $WOOF could start moving through its levels of resistance. As such, the above blue lines represent the most likely price predictions on the token’s way to its ATH. Moreover, the most significant ones are $0.00045-$0.0005, $0.00063-$0.00068, $0.001-ish, $0.0012-$0.0013-ish, $0.0021-ish, $0.0027-ish, and $0.0034-ish.
Of course, the project’s development will play an important part in the future of the WOOF token price. If the Shibarioum network launches soon and the project delivers on all its promises, the token’s price should reflect that. In that case, $WOOF could set its new ATH.
This move would also put the token in the price-discovery region. So, to get some tangible price levels, we can use the Fibonacci retracement tool. And the most optimistic level (the “4.236” extension) that this tool provides us with points to $0.017-ish. That’s about 51x above the current $WOOF price.
While that speculative price seems rather high, considering that the average altcoin tends to increase in value by 50-70x during a bull run, it is not at all impossible.
After all, the WOOF crypto’s current market cap is only $2.61 million. So, even a 51x increase would still put this asset’s market cap just above $133 million. And we all know that successful projects typically cross the $1 billion mark. Of course, the question remains whether or not the WoofWork project has what it takes to be that successful.
Should You Buy $WOOF?
The above sections gave you quite a lot of information to work with. In fact, the above sections should be more than enough for you to decide whether or not $WOOF deserves your attention further.
If not, you ought to forget about this project and move on to other altcoins opportunities. After all, there are countless other existing and new tokens with high potential. Plus, in 2023, you can use Moralis Money’s main feature – Token Explorer – to find the best altcoin opportunities at any given moment.
However, if you decide that WOOF is worthy of your attention, then you ought to research this project and its token further. And there’s no better place to do that than the Moralis Money WoofWork.io ($WOOF) token page.
On that page, you will find all the links, resources, and tools that will help you answer the above question. Plus, if you come to the conclusion that you should buy $WOOF, this page will also help you get your timing right. This is where alpha metrics – Moralis Money’s real-time, on-chain insights – come into play.
Thanks to these metrics, you’ll get to determine if WOOF is gaining or losing on-chain momentum. And since on-chain activity always precedes price action, you will be able to enter your position at the right time.
So, follow the above link to access the WOOF page, or simply use the interactive widget below.
Where to Buy the WOOF Coin?
If you go to the “Exchanges” section on the woofwork.io website, you’ll see that there are many places where you can buy $WOOF. However, if you hit the “Buy $WOOF” button on the project’s page, it will direct you to Uniswap.
But since you’ll already be using the Moralis Money token page for WoofWork, you can take a user-friendlier path to buy $WOOF. After all, there’s an instant crypto swap feature at the top of that page:
The latter already includes the WOOF token as the target currency, so it eliminates the risk of landing on a wrong trading pair. Plus, thanks to the power of the 1inch aggregator, this path also ensures you get the best available price.
What is WOOF Coin? Analyzing the WOOF Token from WoofWork.io – Key Takeaways
- The WoofWork crypto project aims to use the memetic power of the Inu dog breed to launch a Web3 freelance platform.
- At the time of writing, the platform is not live yet; however, the WOOF coin is.
- The WOOF token lives on the Ethereum chain and follows the ERC-20 token standard. Once the Shibarium network goes live, the project plans to transition the WOOF currency to that layer-2 network.
- The price of $WOOF is currently trading near the asset’s lows. So, if the project delivers what it promises, these levels may turn out to be a great entry.
- If you are interested in buying $WOOF, you need to use Moralis Money to DYOR further.
- Moralis Money’s $WOOF page will also help you get the timing right. Plus, it is also arguably the best place to buy WOOF.
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