Some Traders Think This New Meme Coin Could Explode After Raising $7.5 During Crypto’s Price Crash This Week
Some traders are increasingly starting to believe that a newly emerging multi-chain meme coin is setting the foundation to become the next doge-related project to explode.
While the market undergoes a brutal pullback, with many top-20-ranked platforms dropping 20% this week, Dogeverse ($DOGEVERSE) has raised a staggering $7.5 million.
Investors are rushing to get positioned in the meme coin due to its multi-chain infrastructure, interesting tokenomics, and staking opportunities.
Crypto Prices Plummet Amidst Middle East Uncertainty
Crypto prices continue to plummet this week as Bitcoin battles to rebound from the $60,000 region. The number-one-ranked cryptocurrency dipped beneath the $60K support twice throughout the week, but the buyers managed to recover on each dip.
It’s not just Bitcoin that’s affected.
The entire industry is experiencing severe downturns, with top-ranked projects like Solana dropping 17%, Ripple by 18%, and Dogecoin by a steep 22%.
The downturn is primarily driven by further instability in the Middle East, with Iran launching missile strikes on Israel and the latter responding with some attacks of its own.
As a result of the instability, risk-on assets are starting to be sold off first, with the S&P 500, NASDAQ, and UK FTSE all taking a tumble during the uncertainty.
On the other hand, assets like Gold and Silver are benefiting from the instability, with the former setting a fresh 20-year high near $2,400 during the week.
Bitcoin Block Halving Incoming
Despite the short-term price volatility, traders remain confident about the 2024 outlook for Bitcoin, especially with the block halving approaching.
According to most countdowns, the next Bitcoin block halving is expected within the next 24 hours.
Scheduled to occur every 210,000 blocks, the next block halving will reduce the $BTC mined per block from 6.25 BTC to just 3.125 BTC per block.
The 50% reduction in mining rewards will strain supply liquidity, which has already been tested following the SEC’s approval of the BTC ETF on US markets.
With a looming supply shock narrative, traders expect the crypto market to recover imminently.
Dogeverse With $7.5 Million Raised During Crypto Price Crash
While top-ranked cryptocurrencies plummet, one newly emerging meme coin is turning heads after raising $7.5 million during the industry’s worst-performing week in 2024.
Dogeverse continues to gain popularity amongst investors as they scramble to become early adopters of the multi-chain-hopping doge-derivative.
Touted as the next meme coin to explode, Dogeverse is a multi-chain meme coin that’s launching simultaneously on the six largest blockchain platforms following Bitcoin:
- Ethereum
- Binance Chain
- Solana
- Polygon
- Avalanche
- Base
Described as the world’s first chain traveling doge, Dogeverse has the potential to tap into a large user base by attracting an audience from the most popular blockchain platforms in the industry.
Some traders see the multi-chain meme coin as a leap forward in blockchain interoperability, opening the doors to unite the diverse crypto communities that reside on each chain through the shared love of Doge memes.
With a Coinsult audit approved for security, Dogeverse will leverage advanced bridging protocols to make swapping between its supported chains seamless. The meme coin’s multi-chain aspect provides more choices for investors, allowing them to optimize their trading conditions for speed and low fees.
The platform intends to leverage Wormhole’s portal bridge technology, deepening the liquidity for $DOGEVERSE through the six blockchains it will launch on.
Furthermore, the tokenomics structure intrigues investors as they’re designed to ensure longevity.
With 200 billion $DOGEVERSE in total, the tokenomics distribution will be broken down as follows:
- Presale (15%)
- Staking rewards (10%)
- Project funds (25%)
- Liquidity Pool (10%)
- Marketing (25%)
- Ecosystem Funds (10%)
- Exchanges (5%)
The distribution ensures longevity while allowing $DOGEVERSE to remain competitive in the crowded meme coin space.
The presale is currently selling 1 $DOGEVERSE = $0.000298. It’s important to note that it uses a rising pricing strategy, which will increase the cost during each presale phase.
Overall, $DOGEVERSE represents a new standard in ICOs with its unique multi-chain feature, helping it set the foundation for an exciting journey ahead.
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