Dogecoin20, an Ethereum-based alternative to Dogecoin, skyrocketed over 100% on Uniswap debut.
Dogecoin20 (DOGE20), an Ethereum-based token positioned as an alternative to Dogecoin (DOGE), experienced a rapid surge in value, rallying over 100% within an hour of its listing on the decentralised exchange (DEX) Uniswap.
The surge in trading activity was primarily attributed to the anticipation surrounding Saturday, 20 April 2024, a day significant within the crypto community due to the scheduled Bitcoin halving and International Doge Day celebrations.
Originally slated to conclude on 20 April, the DOGE20 token claim went live at 10am UTC following a successful initial coin offering (ICO) that raised over $10 million throughout March.
The decision to conclude the ICO earlier than planned was driven by the substantial demand observed and the strategic alignment with Doge Day.
Upon its listing on Uniswap, DOGE20 witnessed a remarkable price surge, climbing by 101% to reach $0.0003632 USD within a 45-minute timeframe.
Subsequently, the token experienced a slight retracement as early investors capitalised on profits, although it maintained a trading level above its initial launch price, consolidating for potential future fluctuations.
BUY AND STAKE $DOGE20 TODAY AND JOIN THE BULL RUN!
DOGE20 distinguishes itself from Dogecoin by leveraging the Ethereum network’s ERC-20 token standard, allowing for the implementation of smart contracts and enabling various decentralised finance (DeFi) applications.
Ethereum’s infrastructure provides efficiency and cost-effectiveness compared to networks using older technologies like Bitcoin’s Proof-of-Work (PoW) consensus mechanism.
A notable feature of DOGE20 is its staking mechanism, offering a substantial annual percentage yield (APY) of 41% for participants who engage in token staking. This aims to incentivise long-term holding and community engagement, with a significant portion of tokens already staked, reflecting strong commitment among holders.
Additionally, DOGE20 maintains a capped total supply of 140 billion tokens to ensure scarcity and potential value appreciation.
Despite its relatively modest market capitalisation of less than $30 million, DOGE20 has attracted over $1 million in liquidity on Uniswap, facilitating seamless trading for investors seeking exposure to this emerging Ethereum-based meme coin.
As Doge Day approaches, investors are presented with an opportunity to participate in the DOGE20 ecosystem, leveraging its listing on Uniswap to access the token’s trading liquidity.
In conclusion, DOGE20’s rapid surge on Uniswap underscores growing interest in meme coins and Ethereum-based tokens. The project’s listing on a prominent DEX provides accessibility to traders seeking exposure to innovative projects within the crypto space.
With Doge Day coming up, this will be the investor’s last chance to buy $DOGE20 at its current low price.
