The buzz around the “doge” meme is about to kick into high gear this week.
On April 18, new project Dogecoin20 will launch its DOGE20 token on Uniswap – and traders are already wondering if it could be the best meme coin to buy now.
Utility and scarcity integrated into the Dogecoin20 ecosystem
Dogecoin20 is not just another coin with no utility.
This ERC-20 token was designed to breathe new life into the Dogecoin brand while upgrading it for the modern era.
For starters, DOGE20 has a fixed supply of 140 billion tokens. Therefore, it is protected from the endless inflationary supply of the OG Dogecoin.
This scarcity could make it easier for the token to accumulate value over time.
But the real magic comes from Dogecoin20’s investor-focused use cases, like the built-in staking protocol.
This protocol offers the opportunity to earn 45% yield per year just by staking DOGE20.
Since few (if any) legitimate meme coins offer passive returns, Dogecoin20 stands out with a unique value proposition.
Finally, because it is hosted on Ethereum, DOGE20 integrates seamlessly with all the most used wallets out of the box.
It will also be compatible with the best DeFi protocols. This means there are opportunities for lending, borrowing and yield farming in the future.
These elements have combined to create huge hype ahead of Dogecoin20’s debut on the open market.
DOGE20 hype soars ahead of April 18 Uniswap listing
The buzz around this open market debut is about to reach fever pitch.
Anticipation has been building for weeks. Specifically, since the project reached its $10 million funding goal much earlier than the team expected.
Now, just days away from DOGE20 arriving on Uniswap DEX, the project’s Telegram and Twitter accounts are flooded with investors waiting for their chance to get in on the ground floor.
For those who don’t know, presale investors can claim their DOGE20 tokens directly through the official website on April 18 at 10 a.m. UTC.
Trading on Uniswap is expected to begin shortly thereafter.
Unsurprisingly, the crowd in the same corners is already impatiently awaiting this exchange quote. Additionally, this could be the catalyst for higher prices.
YouTuber Conor Kenny posted a video about Dogecoin20, explaining how he thinks the token could benefit from the expected wave of demand from retail investors.
ClayBro, another crypto influencer, also tweeted about DOGE20 to his over 9,100 followers.
With this kind of attention from key industry figures, it seems almost certain that DOGE20’s market debut will be a must-see event.
Could DOGE20 be the best coin to buy this cycle?
Although the meme coin market has suffered this week due to geopolitical tensions and profit-taking, investors would be forgiven for thinking that the launch of Dogecoin20 is ill-timed.
Trading volumes are down and meme coin prices are red across the board. Indeed, these circumstances do not constitute the ideal climate for another dog-themed project to thrive.
However, Dogecoin20 may actually offer something different and refreshing in the current market instability.
Rather than relying on the shilling for its price movements, DOGE20 incorporates solid tokenomics and utilities.
For example, 25% of the total supply was allocated to aggressive marketing campaigns aimed at growing brand awareness and community.
When this war chest is combined with Dogecoin20’s staking rewards and fixed supply, it has all the ingredients to challenge the current bearish sentiment towards meme coins.
Even meme pieces with no purpose have managed to take off recently – like a cat in a dog’s world (MEW).
So while short-term price action could be volatile, Dogecoin20 could be well positioned for growth. This is especially true once bullish momentum resumes.
For degenerate investors burned by too many overblown and useless tokens, DOGE20’s fundamentals could make it a much better play in the current market cycle.
Visit the Dogecoin20 website
reference: watcher.guru