Dogeverse is one of the most exciting presales on the market but it also may have its sights set on the meme coin crown, we examine how it could one day be no.1.
While the market itself has been struggling with somewhat bearish conditions after the latest interest rate news and Bitcoin's (BTC) lack of growth following its halving event, the same cannot be said for the presale market. Some tokens have been having near record breaking presales and most of those come from the meme coin sector.
Dogeverse (DOGEVERSE) is one of those tokens that is grabbing a lot of headlines. If any readers are avid consumers of crypto media we are sure you have already seen or heard about this new presale. Interestingly it is not the first Dogecoin alternative to pop up, but it may be the best.
In this article, we will discuss why Doegverse is a great investment option, not just because of the project itself but because Dogecoin (DOGE) has never been weaker and we may soon see a shake-up at the top of the meme coin tree.
As we mentioned above Dogeverse (DOGEVERSE) has been having a very successful presale. In fact, it has raised over $15 million in little over a month since it was launched. This is a clear indicator that there is a market for this new meme coin. Even more interesting is the whale activity. They always signal and sometimes begin trends, so what can we learn from this?
Well, the main indication we take from this is Dogecoin (DOGE) is vulnerable. There have been many times in the past when Dogecoin has not performed that well but its status on top of the meme coin ladder has never really been threatened, until now. The reason for this is there just wasn’t enough money floating around the meme coin sector to threaten the big dog.
Now, however, we are seeing a very different landscape. The market cap of the meme coin sector has exploded and it has led to more room for lots of meme coin projects to thrive. However, Dogecoin has not been one of them. While many of its rivals have seen gains of thousands of percent over the last year, Doge has seen modest gains of under 100%.
While we should mention it is still in CoinMarketCap’s top 10 cryptos due to its massive market cap, we think its time is coming to an end at this high ranking. That is why we think Dogeverse’s launch is no coincidence and the inventors have targeted this time to try to steal some Dogecoin investors.
One of the main advantages Dogeverse has is that the inventors have been able to study market trends in 2024 and make a token that fits the present-day market. One way they have done this is by including staking in the ecosystem. Stalking has become hugely important for new projects as it provides an extra layer of security for the project and offers a chance to earn more crypto for investors.
Dogecoin’s chain provides a problem here as it has never added staking due to its proof-of-work system. This is one of two ways Dogecoin is not set up well for the future. The other problem that this chain brings up is environmental issues. Crypto has taken a big step into the mainstream since the Bitcoin ETFs earlier this year. A small downside to this is more regulatory interference.
Bitcoin has taken the brunt of this so far and there was even an attempt by the US government to gather information on the amount of energy Bitcoin mining uses. While Bitcoin takes the heat, those involved and invested in Dogecoin are probably quite worried as their system is not exactly environmentally friendly.
In fact, Digiconomist can show us just how impactful a year's worth of Dogecoin transactions are on the environment. Perhaps most startling of all is that the amount of electrical energy they use over the course of a year is comparable to the entire nation of Yemen. So clearly the king of meme coins is going to have its problems down the line. Let’s now look at how much better Dogeverse is set up for the future.
One of the more impressive things about the Dogeverse project is not just how it has studied previous trends but also how it has set itself up for future market twists and turns. The meme coin market is constantly evolving and they seem to recognise that.
The meme itself is similar to DOGE but with one big difference. Cosmo the dog is a space dog and he was born with the unique ability to jump from chain to chain. This makes Dogeverse a multi-chain dog. Considering how much the network landscape has changed in just a year, this versatility is crucial.
One only has to look at this CoinGecko tweet that shows a survey they undertook where they asked investors what their favorite network was. If you had said more than three times the respondents would pick Solana over Ethereum this time last year people would think you are crazy. This shows how important it could be in the future to be a multi-chain token.
Dogeverse is not just a multichain token either; it is actually the first coin that will be available on six networks when it officially begins its listings. These will be a mix of layer 1 and layer 2 chains. Ethereum, Avalanche, Solana, and BNB Smart Chain make up the layer 1s, while Polygon and Base are the layer 2 chains that are included.
To finish up, we think we have clearly outlined why Doegverse may be one of the best presale tokens currently available for investors. One more point to seal the deal would be for investors to focus on its low price and market cap. Considering the bearish conditions this token is the perfect low-risk/high-reward token that every investor should be adding to their wallet.