The Dogeverse (DOGEVERSE) project has hit a significant milestone, raising over $9 million in its ongoing initial coin offering (ICO).
Positioning itself as the world’s first multi-chain meme coin, Dogeverse seems to have tapped into the “degen culture” on multiple blockchain ecosystems.
Dogeverse goes intergalactic on multiple blockchains
Dogeverse is living up to its promise in a major way.
The ambitious project has passed the $9 million mark in its ICO as speculation around animal-inspired meme coins continues to grow.
However, what sets Dogeverse apart from its peers is its multi-chain foundation, which spans Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.
Holders can transfer their DOGEVERSE tokens across these networks with minimal fees, providing a large degree of flexibility.
Dogeverse also has a staking protocol that will distribute 10% of its 200 billion supply (20 billion DOGEVERSE) as rewards to stakers over two years.
At the time of writing, estimated annual yields are set at 118%.
So, using the current yield as a hypothetical example, an investor could stake 1,000 tokens on Ethereum and receive 1,180 DOGEVERSE in rewards over the course of a year.
With its multi-chain bridging system, regular staking rewards, and meme-based aesthetic, it’s no surprise that Dogeverse has been a hit with retail investors ahead of its planned DEX listing.
$9M presale milestone passed as DOGEVERSE demand increases
The demand for DOGEVERSE tokens has been on full display during the project’s ICO.
In just two weeks, the project has raised over $9 million from investors – an average raise of around $640,000 daily.
The appetite for meme-inspired cryptos has increased dramatically in this market cycle.
And investors have been acquiring DOGEVERSE at the current price of $0.0003 while they can.
This is because the developers have baked in predetermined price increases scheduled every few days.
The next increase will occur in just 24 hours.
Looking ahead, Dogeverse’s team has now ticked off Phase 1 and 2 of its roadmap.
Phases 3 and 4 will see marketing campaigns launched alongside highly-anticipated exchange listings.
Then, in Phase 5, earning a spot on a CEX (or multiple CEXs) is the ultimate goal.
Social media buzz & audited smart contracts add to Dogeverse’s appeal
The hype around Dogeverse’s multi-chain approach has also been evident on social media.
On Twitter, announcements from the project’s account have been generating tens of thousands of impressions.
Additionally, the project’s official Telegram has become a hotbed of discussion, with hundreds of new members piling in daily.
Interest has grown further since leading auditing firm Coinsult gave Dogeverse’s smart contracts a clean bill of health.
That stamp of approval has helped alleviate some concerns around the project’s cross-chain ambitions.
Meanwhile, the overall market environment looks primed for speculative tokens to thrive.
In recent weeks, new meme coins like cat in a dogs world (MEW) and Degen (DEGEN) have burst onto the scene and produced sizable returns for early investors.
Whether this demand for “joke tokens” can persist long enough for Dogeverse to flourish remains to be seen.
But for retail traders interested in cross-chain compatibility, this brand-new project could be one to watch.