Meme coin mania shows no sign of dissipating, with the total market cap up 10% in the past 24 hours. The OG meme coin, Dogecoin, has been riding this wave, seeing strong gains at the start of this week with a 6% jump over the past 24 hours.
The coin has broken the $0.20 level twice over the past week. It closed out Friday around $0.017 but has climbed rapidly over the weekend to reach a price of $0.207.
Both long-established meme coins and newcomers to the scene are experiencing monumental gains. For example, the new meme coin, Wally the Whale, has garnered significant attention after posting more than 44,000% gains in 24 hours.
Even major platforms are getting in on the meme coin craze. Bitget Wallet issued a new meme coin, MOEW, which enjoyed a 14,000% surge within just a few hours of launch to reach a $31 million market cap.
Positive Signals for the Original Meme Coin
The price of Dogecoin has been climbing over the past few weeks, buoyed up by this current meme coin tidal wave. It’s increased 25% in the past month, and the past 24 hours alone have seen an almost 6% jump.
So, what’s behind Dogecoin’s increasing price?
Some analysts have claimed that Dogecoin is running in a “cycle of 7 years.” They’ve predicted short-term prices as high as $2 and long-term prices even reaching $40, although this would require a huge buy-in from the crypto market. But Dogecoin has already achieved huge growth and is up 37039.14% from its original price back in 2014. History shows us that large gains aren’t impossible with this coin.
Another factor in Dogecoin’s new price is the upcoming Doge Day. April 20th is a day of celebration in the Doge community, and Dogecoin has often seen its price jump in April as a result.
However, some key elements could also hold this token back. Dogecoin is inflationary, and new DOGE tokens are constantly being issued. As one of the largest coins, it’s hard for investors to see significant returns, with even large trading volumes having little impact on the price.
The token also lacks some of the features or innovation that other meme coins have these days, with Shiba Inu and other new meme coins far outpacing it in terms of utility.
Other Dog-themed coins are stealing the limelight these days. As a result, some investors are looking slightly further afield to find tokens with similar positive signals but at a lower cap and with the potential for serious gains. One interesting new coin still in presale is Dogecoin 20
Dogecoin 20: the New Dog on the Block
Dogecoin20 has been getting plenty of attention in the crypto world as one of the most successful ongoing presales, raising over $10 million already.
The team behind Dogecoin20 recently announced their long-kept-secret launch date for the token: April 20th — Doge Day. This is a strategic move that’s set to build up hype for the coin over the coming weeks.
The token offers a fresh twist to the long-standing tradition of Dog meme coins. It takes the 20 in its name from the type of token it is – ERC-20. Built on the Ethereum network, it’s lightweight, fast, and secure.
It also offers holders much more value than Dogecoin, allowing presale participants to start staking their tokens with a current 52% APY. It’s also deflationary with a fixed supply of 140 billion $DOGE20.
These features double up the potential upside for investors. 12.5% of the total token supply has already been set aside to reward early investors in the first year.
Check out the project on X (Twitter) and Telegram to stay up to date on the upcoming launch date, as the token looks set to list on prominent CEXs and DEXs.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post Dogecoin Sees Strong Start to the Week As Meme Coin Prices Surge: What About Dogecoin20? appeared first on CryptoPotato.
