BABY BEERCOIN (BBEER) is having a strong start to the week.
This trending meme coin has pumped over 40% in the past day as retail investors pile in.
But BBEER isn’t the only meme coin that’s performing well.
New dog-themed token PlayDoge (PLAY) has just passed $4.5 million in presale – and is attracting attention from all corners of the market.
BABY BEERCOIN Price Explodes Over 40%
BABY BEERCOIN’s price action is a hot topic right now.
This off-shoot of the popular BEERCOIN (BEER) token has rocketed over 40% in the past 24 hours to reach $0.000832.
BBEER’s rally comes hot on the heels of the original BEERCOIN’s early June price pump that fizzled out last week amid rumors of whale manipulation.
Undeterred, BABY BEERCOIN has capitalized on the remaining hype, with daily spot trading volumes surging 319% to $5.2 million.
That has helped push BBEER to the #2 spot on CoinMarketCap’s trending cryptos list.
However, BBEER is still relatively obscure.
It’s only tradable on the Raydium DEX and MEXC, so liquidity remains a concern.
Like most meme coins, BBEER offers zero utility or innovations beyond its beer-themed branding.
As such, its price is driven almost entirely by speculation.
For that reason, chatter on crypto Twitter is rife with both excitement and caution – given the potential for a quick pump-and-dump.
A Closer Look at BEERCOIN’s Rise & Fall
As mentioned above, BABY BEERCOIN is paying tribute to the original beer-themed token, BEERCOIN.
Just weeks ago, BEERCOIN was one of the hottest new meme coins.
It rocketed over 6,300% in the weeks following its DEX listing, commanding a market cap of almost $300 million at its peak.
However, BEERCOIN’s rise was short-lived.
Last week, the token’s price plummeted over 70% amid allegations of market manipulation by crypto whales.
Reports emerged that a whale was deploying a sophisticated pump-and-dump scheme, accruing huge amounts of BEER only to offload them for massive profits.
This led to a sell-off as retail investors scrambled to exit their positions.
Ultimately, this selling pressure caused BEER’s price to hit $0.000149 on Saturday – its lowest since May 26.
Interestingly, the token has still attracted over $170 million in spot trading volume over the past 24 hours.
This suggests that, although BEERCOIN’s price might have crashed, it’s still appealing to some investors.
Tamagotchi-Inspired PlayDoge Raises $4.5M as Presale Hype Ramps Up
While BABY BEERCOIN has been making headlines, another meme coin, PlayDoge, is raising some serious capital.
Over the weekend, the PlayDoge presale passed the $4.5 million milestone as investors doubled down on its Play-to-Earn (P2E) concept.
By combining nostalgic Tamagotchi-style pets with an 8-bit design, PlayDoge hopes to attract both gamers and investors.
The game’s premise is simple.
Players download the PlayDoge mobile app and begin caring for their digital Doge puppy.
Keep it fed and entertained (through side-scrolling mini-games), and players will earn PLAY tokens.
These tokens can be swapped on the open market or staked to earn passive income.
It’s a clever reimagining of the ‘90s virtual pet craze that dominated households worldwide.
Over 82 million Tamagotchis were sold back in the day as kids became obsessed with keeping them alive.
But this time around, PlayDoge is adding some real monetary incentives to the gameplay.
While details are still emerging, PlayDoge’s whitepaper outlines a tokenomics structure that allocates over 611 million PLAY tokens for additional “community rewards.”
There’s also a huge chunk set aside to fund marketing campaigns.
This suggests the devs are serious about building a strong community and attracting a large user base.
So, although BABY BEERCOIN might be enjoying a brief moment in the spotlight, PlayDoge’s long-term potential could be much greater.
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