Ripple executive discusses taxes, Dogecoin, Pomerdoge gain on weekly charts

Ripple executives and XRP holders are discussing tax implications for using the coin in cross-currency payments. Meanwhile, Dogecoin (DOGE) and Pomerdoge (POMD) posted gains on the weekly charts. On the other hand, analysts continue to debate about high-value altcoins in 2023.

Dogecoin gains on the weekly chart

Dogecoin is up 6.6% in the last week of trading, rising 18.1% in the previous month. 

As of July 31, 2023, DOGE traded at $0.079620 with a market cap of $11.17 billion and a 24-hour trading volume of $391.62 million, a 21.94% increase.

Rising trading volumes suggest that DOGE may grow in the days ahead, a reason why more investors are placing bullish bets on the coin. 

Some predict DOGE may hit $0.10 by year-end.

XRP price movement

Fredo Ayala, who works with accounting and finance, started a conversation on Twitter. 

He said taxes would only affect customers if they settle XRP transactions on-chain without price changes. However, if prices change while the transaction is being initiated, it could lead to more or fewer taxable events. 

Neil Hartner, a software engineer at Ripple, explained a situation involving converting USD to EUR using XRP in between. Mark Hamilton, who used to work at Ripple, compared this with how regular banks handle transactions.

As of July 31, 2023, XRP is trading at $0.7038. Its market cap rose to around $37 billion with a 24-hour trading volume of approximately $1.3 billion. 

In the last month, XRP is up roughly 50%, with traders forecasting the coin to hit $0.93 by the end of the year.

Pomerdoge ecosystem

The Pomerdoge ecosystem targets play-to-earn (P2E) web3 users and offers value to players and investors. Its multifaceted platform includes Pomergame, a virtual world with engaging gameplay designed to attract global gamers. 

Players can create avatars, level them up, enhance their capabilities, and collect valuable in-game items. Additionally, Pomerplace is a dedicated marketplace enabling the buying, selling, and trading of in-game assets.

The platform will also have a distinct non-fungible token (NFT) collection comprising 7,777 unique NFTs accessible to POMD token holders. 

These NFTs are each priced at 0.2 ETH.

The Pomerdoge team maintains an ongoing development effort, targeting a Q4 2023 release for the ecosystem.

Currently, POMD is available at $0.007 in the ongoing presale.

Conclusion

In 2023, XRP and DOGE garnered substantial investor interest. 

However, Pomerdoge might surge in the days ahead due to its robust ecosystem. 

Its play-to-earn concept can attract a broad audience, allowing players to earn while they engage. 

POMD, its native token, drives all platform transactions, providing holders with practical functionality and rewards from staking. 

As such, investors looking to diversify their portfolios can consider Pomerdoge a viable option at spot rates. 

Find out more about the Pomerdoge presale

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