• 28/05/2024 18:17

DOGE Investors Are Buying These New Meme Cryptocurrencies

On April 20, the market celebrated Dogecoin Day, one of the most popular cryptocurrencies on the crypto markets. However, despite the fact that last year, which was not very successful for Dogecoin, the coin grew on the eve of the holiday, this year did not please investors with a growth spurt. However, some managed to invest in analogues of the popular meme coin – such as Dogecoin20, which grew by 100% after listing on April 18, and Dogeverse, a new meme coin that combines 6 blockchains.

DOGE investors are buying these new meme cryptocurrencies

What new meme cryptocurrencies are DOGE investors buying?

Dogeverse

The Dogeverse team aims to unite the meme coin community across multiple blockchain networks, including Ethereum, BNB Chain, Solana, Avalanche, Base and Polygon.

Using advanced bridge technology, DOGEVERSE holders will be able to “travel” across these crypto ecosystems with minimal commissions.

But Dogeverse isn't just about interoperability. The protocol will also include a staking mechanism that will allow users to earn passive rewards on their DOGEVERSE tokens. According to the project's staking dashboard, the estimated annual return is 117% – much higher than the industry average.

By combining their multi-chain goal with such high returns, the Dogeverse team is clearly looking to bring some legitimacy (and utility) to the space meme coins.

And with the pace of pre-sales showing no signs of slowing down, traders are betting that Dogeverse could become the next viral sensation.

GO TO THE DOGEVERSE WEBSITE

Dogecoin20

Dogecoin20 is a deflationary token that can increase its value by 10 times upon listing on an exchange. Following a successful initial coin offering (ICO) that raised over $10 million during March, the DOGE20 token went live on DEX.

DOGE20 differs from Dogecoin in that it uses the network's ERC-20 token standard Ethereum, which allows you to implement smart contracts and create various decentralized financial applications (DeFi).

Ethereum's infrastructure provides efficiency and cost-effectiveness compared to networks using older technologies, such as Bitcoin's Proof-of-Work (PoW) consensus mechanism.

A notable feature of DOGE20 is its staking mechanism, which offers a significant annual percentage yield (APY) of 41% for participants who stake tokens. This aims to encourage long-term ownership and community participation. A significant portion of tokens remain staked even after trading has begun, indicating a strong commitment from holders.

The decision to complete the ICO ahead of schedule was due to significant demand and strategic coincidence with Doge Day.

After listing on the Uniswap exchange, the price of DOGE20 skyrocketed by 101% and reached $0.0003632 within 45 minutes.

The token subsequently experienced a slight pullback as early investors made profits, although its trading price remained at the level above the initial launch price, consolidating for possible future fluctuations.

Conclusion

Experts believe that the peak season of meme cryptocurrencies has not yet arrived. They call the current market cycle quite unusual because the Bitcoin price correction did not trigger an “altcoin season,” which is a typical market pattern from a historical perspective. Instead, in early April we saw increased demand for meme tokens, which has not yet reached its peak and is just coming into full force after the DOGE day and Bitcoin halving.

    Cryptocurrency

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