The seemingly unstoppable meme coin craze has a new contender: Dogecoin20 (DOGE20).
Paying homage to the OG meme coin’s legacy, Dogecoin20 has already raised $10 million in presale so far ahead of its eagerly-awaited “Doge Day” launch in 10 days.
Dogecoin20 targets Doge Day for Uniswap listing
Dogecoin20’s presale has seen strong interest from retail investors, hitting its $10 million fundraising target two weeks ago.
But the demand doesn’t seem to be slowing – since buyers have one final opportunity to buy DOGE20 at the discounted rate of $0.00022 before its Uniswap listing on April 20.
That date carries special significance as “Doge Day.”
Doge Day is an unofficial celebration of meme coin culture that has historically boosted prices across the meme coin space.
By launching on Uniswap to coincide with this date, Dogecoin20 is making a calculated play to stimulate demand right off the bat.
Helping generate more market traction is the development team’s commitment to providing ample liquidity.
A full 10% of DOGE20’s 140 billion token supply, representing around $3 million based on current presale pricing, has been set aside for DEX trading.
If the activity across Dogecoin20’s Twitter and Telegram channels is any indication, that liquidity could be quickly absorbed.
Staking rewards & influencer backing fuel excitement for DOGE20
Beyond its launch strategy, Dogecoin20's reward system could further increase its appeal to traders.
The project bills itself as a “Stake-to-Earn” meme coin, providing tangible financial incentives to those interested in joke cryptocurrencies.
Specifically, Dogecoin20 has a staking mechanism that allows holders to earn estimated 49% annual yields for locking up their tokens.
It’s a proposition that has already convinced early investors to stake over 56 billion DOGE20 during the presale – more than a third of the token’s maximum supply.
This combination of doge-inspired branding and concrete staking rewards seems to have captured traders’ attention.
And unlike the original Dogecoin’s inflationary supply model, DOGE20’s supply will be capped at 140 billion tokens, with 25% being used to fund marketing efforts post-launch.
These promotional efforts could prove crucial in sustaining the hype Dogecoin20 has built up leading into its Uniswap debut.
Recent endorsements from prominent crypto YouTubers like Matthew Perry are also enhancing visibility - and fueling excitement from the retail crowd.
Is Dogecoin20 the next meme coin success story?
While the meme coin market has pulled back slightly to start the week, the buzz around Dogecoin20 highlights how these no-utility tokens are still able to attract speculative buyers.
Other recent examples include Book of Meme (BOME) and Brett (BRETT) – both of which produced impressive returns for early investors despite having no use case.
Now, with Dogecoin20 positioning itself as a meme coin with tangible utility, some traders are betting it has the potential for growth post-launch.
Adding to the growing interest in DOGE20 is the project’s completed smart contract audit from Coinsult.
This independent verification has already checked one of the main boxes that savvy traders demand before getting involved in a new meme coin project.
Of course, no number of audits can guarantee that Dogecoin20 will live up to its lofty aspirations once it hits the open market.
However, by creating an atmosphere of anticipation heading into its Doge Day launch, this new project seems to have the necessary elements to attract retail demand.