The Dogecoin20 (DOGE20) presale has exceeded expectations, raising over $10 million from investors ahead of its Uniswap listing.
With demand for the Ethereum-based token rising daily, investors are keen to see how DOGE20 will perform once it makes its open market debut next month.
Doge Day launch hype helps Dogecoin20 hit presale hard cap
Dogecoin’s presale has successfully reached its hard cap of $10 million.
However, the developers are offering one final opportunity for latecomers to get involved at a price of $0.00022 per token before the Uniswap listing takes place.
With a supply of 140 billion tokens, of which 10% has been allocated to provide liquidity, Dogecoin20 aims to promote smooth trading conditions right off the bat.
Its Ethereum-powered staking protocol and Dogecoin-inspired branding have resonated with investors, aiding the developers’ fundraising efforts.
The buzz now seems to be increasing ahead of Dogecoin20’s launch on April 20 – a date many crypto enthusiasts have called “Doge Day” given the 4/20 numerals.
With the meme-based nature of the timing, some investors anticipate DOGE20’s value could benefit from the wave of speculation expected around this unofficial holiday.
More than 4,800 people have opted to join Dogecoin20’s Telegram channel ahead of the token’s Uniswap debut.
And given its origin as a meme coin, this strong community support could play a vital role in the project’s long-term success.
Staking & audited contracts fuel demand for DOGE20
While Dogecoin20 clearly draws inspiration from the original Dogecoin, the project is aiming to create its own path by providing blockchain-based utility.
Chief among Dogecoin20’s features is its staking protocol, allowing holders to earn passive rewards simply for holding the token.
The incentives seem to be working, with 26.3 billion DOGE20 tokens already staked by investors looking to benefit from.
This positions Dogecoin20 as not just another speculative token but an income-generating asset from day one.
Further setting Dogecoin20 apart is its tokenomics structure featuring a fixed supply cap, unlike Dogecoin’s inflationary model.
Early investors are hopeful this gives DOGE20 an edge in terms of price appreciation over the long term.
Finally, the Dogecoin20 team has also had the project’s smart contracts fully audited by blockchain security specialists Coinsult – adding to the level of transparency.
Will DOGE20 replicate WIF & BOME’s aggressive rallies?
Dogecoin20’s presale accomplishments come as the broader meme coin market shows no signs of cooling off.
The total market cap for the sector now stands at $60 billion, highlighting the growing demand for meme-based tokens.
Trading volumes tell an even more impressive story, with over $9.4 billion in meme coin transaction activity recorded in just the past 24 hours.
This represents a 40% increase in volume from the previous day.
Much of this activity has been concentrated on recent breakout stars like dogwifhat (WIF) and Book of Meme (BOME) on Solana.
WIF soared to become a $1billion+ giant within two months of its launch, while BOME captured investors’ attention with its exponential rally earlier this month.
The rise of these two tokens demonstrates that real speculative demand is buried beneath the meme-style branding.
As Dogecoin20 joins the fray with its April 20 Uniswap launch, on Doge Day, it will be looking to replicate the energy that powered tokens like WIF and BOME to new heights.