While the recent volatility in the crypto market has spooked some investors, one meme coin project appears to be immune to the dips.
The Dogeverse (DOGEVERSE) ICO has now raised over $4 million in funding – showing the high level of demand for the world’s first “multichain meme coin.”
Bearish Crypto Weekend Sparked by Geopolitical Turmoil
Dogeverse’s accomplishment is made even more impressive considering the turbulence of the past few days.
A flare-up in tensions between Iran and Israel, including Iranian missile attacks, sparked a bearish sentiment that saw investors exit riskier assets – like cryptocurrencies.
As the conflict unfolded, leading cryptos Bitcoin and Ethereum plunged around 7-10% over the weekend.
In total, the crypto market shed over $450 billion in value, dipping below $2.1 trillion on Saturday evening.
Billions worth of leveraged positions were also liquidated as a result.
However, since Saturday’s low, the market has rebounded impressively.
Although the “flash crash” saw Bitcoin briefly tap $61,300, the coin is now back trading at $66,350 – an 8% rise.
Ethereum is up 13% in the same time frame, while most altcoins and meme coins are also back in the green.
This price action hints that the weekend’s plunge was just a temporary blip driven by geopolitical factors and that investors are still eager for exposure to major cryptos.
Dogeverse ICO Powers Through Volatile Conditions to Pass $4M
While the market has been whipsawing over the past few days, the Dogeverse ICO has managed to power through the volatility and pass the $4 million funding milestone.
Just how this upstart meme coin project has maintained such momentum is raising eyebrows.
After all, Dogeverse’s fundraising has come during a time when most major digital assets experienced double-digit percentage drawdowns.
Yet through it all, retail investors have continued piling into Dogeverse’s ICO.
The project’s vision of being a multichain meme coin seems to resonate with investors who are undeterred by market conditions.
Dogeverse’s fundraising surge has also coincided with a flurry of media coverage.
With over 1,700 people now active on Dogeverse’s Telegram channel, the presale’s hard cap of $17 million seems well within reach.
For the Dogeverse team, maintaining this momentum could allow them to accelerate marketing efforts once the coin debuts on DEXs.
Staking Protocol & Influencer Backing Set Stage for DOGEVERSE Success
Beyond its early ICO haul, Dogeverse’s team has even more ambitious plans to keep the good times rolling.
Key among them is Dogeverse’s staking protocol, which allows DOGEVERSE holders to earn passive rewards right away.
With APYs of over 200% on offer, staking looks poised to be a significant incentive for investors to stock up on DOGEVERSE tokens.
The hype is also amplified by a growing contingent of influential YouTubers who have latched on to Dogeverse’s quirky branding and utility.
Crypto commentators like ClayBro and 99Bitcoins have produced multiple videos breaking down the project’s finer details.
If their coverage continues building momentum with the “degen” crowd, Dogeverse could benefit from a wave of demand once it hits the open market.
Of course, plenty of hurdles remain before the token could make it as a smash hit.
But for an upstart project that has raised millions despite market headwinds, Dogeverse is already displaying some serious staying power.
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