New meme coin $DOGE20 raises over $7.6 million in its presale, aiming to be an improved Dogecoin on the Ethereum blockchain with staking and a fixed token supply.
Solana-based meme coin $PUNDU has successfully concluded its presale, amassing an impressive $37 million. Meanwhile, Dogecoin20 ($DOGE20), touted as an enhanced version of Dogecoin, has garnered over $7.6 million in its ongoing presale.
$DOGE20, positioned as an upgraded iteration of the popular Dogecoin, aims to bring the meme coin to the Ethereum blockchain while addressing concerns about its inflationary supply and energy-intensive mining process.
Riding on Ethereum’s recent software upgrade, which has led to reduced transaction fees, $DOGE20 presents itself as an attractive investment opportunity built on a future-proof architecture.
Despite the popularity of Dogecoin, which has seen a 7% price increase, $DOGE20 has quickly gained momentum. Its presale has been extended due to overwhelming demand, with the hard cap target raised to $10 million. The extension comes amidst a presale run rate exceeding half a million dollars daily, indicating strong investor interest.
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One of the distinguishing features of $DOGE20 is its on-chain staking mechanism, offering passive income opportunities to token holders. Unlike its predecessor, $DOGE20 leverages Ethereum smart contracts to facilitate staking, providing a more sustainable and rewarding investment avenue.
Furthermore, $DOGE20 addresses the issue of infinite supply inherent in Dogecoin by introducing a fixed supply of 140 billion tokens. This enhancement has attracted significant attention from Chinese investors, reflecting the growing influence of meme coins in global markets.
The media frenzy surrounding $DOGE20 underscores its potential as a disruptive force in the cryptocurrency space. Leading to coverage from finance news outlets and prominent YouTuber Matthew Perry that have highlighted the coin’s innovative features and investment appeal, contributing to its rising popularity.
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Elon Musk’s involvement in the cryptocurrency market, particularly his support for Dogecoin, has also fueled speculation about the potential integration of Doge-based meme coins into his planned payment system on X (Twitter). As Musk’s ventures expand and regulatory hurdles are addressed, the crypto community remains attentive to developments that could further elevate the profile of meme coins like $DOGE20.
Elon Musk’s involvement in the cryptocurrency market has led to the impact on Dogecoin’s price surge of 14% this week. The expansion of Musk’s payment ecosystem through X Payments LLC holds potential implications that $DOGE20 can experience a boom in price similar to Dogecoin’s monumental rise.
