2024-04-08 18:36:35
Enthusiasm for memecoins shows no signs of slowing down, with total market capitalization up 10% in the last 24 hours. The original memecoin, Dogecoin, rode this wave to post strong gains earlier this week, jumping 5% in 24 hours.
It has crossed the $0.20 level twice in the past week. It closed at around $0.017 on Friday, but rallied quickly over the weekend to reach $0.207.
The long established memcoinok, as newcomers enjoy extraordinary profits. For example, the new memecoin, Wally the Whale, received significant attention following posting a gain of over 44,000% in 24 hours.
Even the big platforms are getting in on the memecoin craze. Bitget Wallet launched a new memecoin, MOEW, which jumped 14,000% within hours of its launch, reaching a market cap of $31 million.
Positive signs for the original meme coin
The price of Dogecoin has risen in recent weeks, driven by the current flood of memecoins. It’s up 25% over the past month, and jumped almost 6% in the past 24 hours alone.
So what is behind Dogecoin’s price rise?
Some analysts claim that Dogecoin runs on a “7-year cycle”. They predicted short-term prices as high as $2 and long-term prices as high as $40, although this would require a huge inflow from the crypto market. But Dogecoin has already seen massive growth, up 37,039.14% from its original price in 2014. History shows that this coin can make big profits in the future.
Another factor in Dogecoin’s new price is the upcoming Doge Day. April 20th is a day of celebration for the Doge community, and the price of Dogecoin often spikes in April as a result.
However, there are some key elements holding this token back. Dogecoin is inflationary and new DOGE tokens are constantly being issued. Unfortunately, as one of the largest coins, this hardly adds anything to the exchange rate, and the continuous token issuance only ruins this.
The token lacks some of the features or innovations that other memecoins offer today, leaving Shiba Inu and other new memecoins far ahead in utility.
Other dog-themed coins are stealing the spotlight these days. As a result, some investors are looking a little further for tokens with similar positive signals, but with lower capitalization, which have serious profit potential.
We are therefore showing you an interesting new coin that is still in pre-sale, and it is none other than Dogecoin20.
Dogecoin20: The new dog in the house
A Dogecoin20 has received a lot of attention in the crypto world as one of the most successful ongoing presales, having already raised over $10 million.
The team behind Dogecoin20 recently announced the token’s long-kept secret launch date: April 20 — Doge Day. This is a strategic move that will build hype around the coin in the coming weeks.
The token adds a fresh twist to the long tradition of Doge memecoins. The 20 in its name comes from the type of token it represents – ERC-20. Built on the Ethereum network, it is light, fast and secure.
It offers holders more value than Dogecoin, allowing presale participants to start staking their tokens at 52% APY. Also as a deflation coin, it has a fixed supply of $140 billion DOGE20.
These features double the potential upside for investors. 12.5% of the total token pool was allocated to reward early investors already in the first year.
Visit the Dogecoin20 presale page, follow the project on X (Twitter) and Telegram to stay updated on the upcoming launch date and token claim as the token launch is expected on prominent CEXs and DEXs.
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**Attention! Our article above is Alex Reed content and does not constitute investment advice. The editors of BitcoinBázis do not take responsibility for what has been described and urge all readers to exercise caution in relation to cryptocurrency, CFD, token, cryptocasino, metaverse, DeFi, play-to-earn and ICO/STO/SAFT investments. Individual research and thorough verification of claims is highly recommended. Trade and play responsibly.**
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