The Dogecoin20 price surged 100% shortly after being launched earlier today as investors capitalized on the meme coin’s listing pump.
The red-hot meme coin pared gains after to trade at $0.0001953 as of 6:35 a.m. EST to trade up more than 8%. That means it’s still outperforming top dog-themed cryptos such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF) and FLOKI (FLOKI) in a meme coin market that’s awash in red ink.
15-minute chart for DOGE20/USD (Source: TradingView)
With the exit of short-term investors, value investors with a longer-term outlook can now push the newly-listed meme coin’s price higher in the coming few days.
Buyers have already identified the recent dip as an opportunity to acquire the meme coin at a premium, which is evident by the emergence of a green candle on the crypto’s charts. With the initial listing hurdle out of the way, the Dogecoin20 price is free to enter a price discovery phase towards the upside.
Bulls Could Soon Push The Dogecoin20 Price Higher
More bulls will likely make their way to Dogecoin20’s order book now that the token can be traded on decentralized platforms. The timing of the listing is also ideal, given the upcoming International DOGE Day on Apr. 20.
This special day has led to parabolic gains for the original Dogecoin. Now, investors and analysts are anticipating that Dogecoin derivatives with far greater growth potential, such as Dogecoin20, will go ballistic on the day.
DOGE20’s chances of skyrocketing soon is further heightened by the fact that early-stage investors that are in it for a quick gain have already left the market.
DOGE20 will also have minimal sell pressure for the next few months because the majority of the tokens have been locked up for 11 months. This decreased liquidity on the sell side will make it easier for the Dogecoin20 price to rise in the coming weeks, while investors build additional liquidity safety nets on the buy side of the crypto’s order book.
Dogecoin20 is not the only new meme coin that stands to benefit from the upcoming International DOGE Day. Investors are also likely to pour money into Dogeverse, a multi-chain Dogecoin derivative whose presale has gone parabolic since its launch.
The First Chain-Travelling DOGE
Dogeverse (DOGEVERSE) wants to stand out as the “world’s first chain-traveling doge.” Unlike other projects that remain on one chain, Dogeverse aims to provide investors with more flexibility and is present on multiple networks.
Popular public chains including Ethereum, BNB Chain, Polygon, Avalanche, Solana and even the Layer 2 network Base all serve as a home for the dog-themed crypto.
DOGEVERSE’s presence on more than one network makes it easier for investors to seamlessly shift their holdings across chains. This not only makes the crypto more accessible, but also increases its usefulness in the meme coin space.
What’s more, token holders are able to stake their DOGEVERSE for rewards on the Ethereum network as well. Anyone who buys and stakes tokens now will gain access to an eye-watering 155% in annual rewards.
Investors Are Betting Big On Dogeverse
Dogeverse’s presale has raised over $6.8 million, and is well on its way to surpass the $7 million mark in the next few days.
The project’s team recently revealed the meme coin’s roadmap, which is divided into 5 phases. Currently busy with the second phase, Dogeverse’s team has sent their contracts to be audited by reputable 3rd party providers.
In the next phase, the team will focus their efforts on marketing the meme coin. During stagess 4 and 5, the team have stated that they want to get the crypto listed on a number of decentralized exchange (DEX) and centralized exchange (CEX) platforms.
Investors expect the listings to have a major positive impact on the crypto’s price, and are therefore rushing to buy DOGEVERSE before the first DEX listing in phase 4. Phase 5 will then finally see the meme coin get listed on multiple centralized exchanges.
This will expose the meme coin to a wider pool of investors, which could lead to a price surge.
Another great milestone has been achieved for #DOGEVERSE! 🚀
Surpassing the $6,000,000 mark already! 💰
Cosmo couldn’t be happier! 🐶😊
Keep it up #DOGE lovers! 🌟 pic.twitter.com/JlXMxCfqoS
— DogeVerse (@The_DogeVerse) April 17, 2024
Selling for $0.000297, the DOGEVERSE tokens can be bought using either ETH, BNB, MATIC, AVAX, USDT or a bank card.
Anyone looking to acquire the token might want to hurry though given that the DOGEVERSE price is set to increase in slightly more than a day.
Investors can buy DOGEVERSE tokens on the official website here.
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