Dogecoin climbed 18% on Thursday to a trading price of $0.1546. The world’s largest meme coin was struggling to retain its support in the recent bear market. But the growing hype around the Dogecoin20 presale has spiked demand for Dogecoin.
The presale has raised $4.5 million in less than a week of going live. A meme coin pump is underway.
Dogecoin20 (DOGE20) is the latest crypto sensation that is hailed as the ultimate upgrade to Dogecoin. The passive income benefits of the new project have gone viral, making it an excellent alternative to Dogecoin and similarly saturated high-cap meme coins.
🌿🐕 #DOGE20 stands out as a more eco-friendly and adaptable version compared to the original #DOGE, thanks to its operation on Ethereum's Proof-of-Stake network. 🔋
— Dogecoin20 (@DOGE_COIN20) March 20, 2024
Being an ERC-20 token, it effortlessly fits into any well-known self-custody wallet for convenient storage. 📥 pic.twitter.com/qkYXjlcnjY
What you'll learn 👉
The Dogecoin20 Phenomenon Explained
DOGE20 has a visual resemblance to Dogecoin. The name also bears a similarity. But Dogecoin20 is designed to be a better alternative to Dogecoin on multiple fronts.
For starters, the new token leverages Ethereum smart contracts, providing a more streamlined investment option. The choice to build its home on Ethereum has helped DOGE20 avoid the complexities associated with wallet configurations and token custody.
DOGE20’s modest initial market cap attracts a wave of new investors who missed the DOGE rally. Most investors are late to onboard meme coin trends when they’re still young. Early meme coin projects lack credibility, which justifies the delayed decision-making. But it comes at the cost of huge profits.
One of the key factors that strategic and institutional investors check before plowing money into a new project is the robustness of the underlying ecosystem and security aspects. For most meme coins, there is no ecosystem. They’re merely tools for quick wealth creation.
Interestingly, Dogecoin20 has established its credibility in both these aspects.
Up to 900 Times Cheaper Market Cap, Higher Upside Potential
The role of Dogecoin’s infinite supply model in dragging it down the price chart over the years can’t be ignored. It has led to sharp price downturns over time. Since May 2021, Dogecoin has incurred an 80% loss in value. This is a fact often overlooked by new investors.
An asset with an infinite supply is like a sinking ship. Here, too, DOGE20 outshines DOGE. It adopts a fixed supply model to address the problem.
The fully diluted initial market cap of DOGE20 which is nearly 900 times cheaper than that of Dogecoin is another compelling aspect of the project. The presale creates an accessible entry point to the investment opportunity, leaving ample room for growth and expansion.
Dogecoin vs. Dogecoin20 – Which is the Best Investment Now?
When it comes to credibility and dominance, Dogecoin is unmatched in the meme coin market. That has been the case for a long time.
But for a new investor, the decision-making ultimately comes down to the potential ROI. In that sense, Dogecoin20 is a better alternative to Dogecoin. The new crypto has higher upside potential due to its low initial market cap, passive income opportunities, and fixed supply. More importantly, the growing traffic to the presale is a reflection of the project’s virality.
Dogecoin20 has a better risk-reward ratio in the presale stage. The lower price mitigates the risk, while the lower initial market cap leaves large room for returns. The project has also established its credibility right from the presale stage, having completed an extensive smart contract audit by Coinsult. Fair tokenomics eliminates the risk of rug pulls.
Passive income through staking, on the other hand, shields the token from adverse market conditions to a great extent. It is structured to deplete the reward pool over a two-year period, favoring early investors to enjoy high annual percentage yields (APYs).
Each new presale stage marks an increase in price. The staking mechanism also favors early investors with higher APY. As of now, the staking APY is 205%. The fast progress of the presale indicates a sell-out ahead of schedule. It will be followed by the Uniswap launch.
More Altcoins to Watch this Season – SMOG Jumps 30% in a Day While GBTC Crosses $7M
Two other trending altcoins this season are Green Bitcoin ($GBTC) and SMOG.
SMOG has recorded a 30% jump on the daily chart. It has more steam left, owing to its unique dragon-themed airdrops that have gone viral. With Season 1 of the airdrop set to end on April 3rd, the demand for the token is expected to spike up in the coming days. The airdrops are hosted on Zealy.
Green Bitcoin is a prediction market staking system linked to Bitcoin’s price movements. The growing traffic to Green Bitcoin’s presale suggests a potentially explosive launch.
As the market moves to a bullish period again, Green Bitcoin will give investors better exposure to Bitcoin halving.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
