Crypto All-Stars outshines struggling meme coin DOGS, raising nearly $1 million in ICO.
In a turbulent week for meme coins, DOGS, a newly launched meme coin based on The Open Network (TON) blockchain, has seen a significant 25% drop.
Once hyped for its strong connection to Telegram and its viral dog character Spotty, the coin has experienced a downturn amid broader market pressures.
However, while some meme coins are struggling, a new project called Crypto All-Stars (STARS) has begun to steal the spotlight, raising close to $1 million in its ICO despite the challenging conditions.
DOGS Meme Coin Faces a 25% Drop in a Tough Market
DOGS, the dog-themed meme coin inspired by Spotty, a character linked to Telegram’s founder, Pavel Durov, has been one of the more prominent meme coin launches in recent months.
Built on the TON blockchain, DOGS initially saw substantial interest after its launch via Binance Launchpool, a well-known platform that allows users to farm tokens by staking Binance coins (BNB) or Binance USD (BUSD).
The total supply of DOGS is set at 550 billion tokens, with 516 billion already in circulation. Most of these tokens were airdropped to Telegram users based on their engagement and activity within the platform and early adopters received DOGS for completing in-app tasks.
Despite these early indicators of success, DOGS has been unable to sustain its momentum, plummeting by 25% in the last week.
According to the DOGS Telegram channel, around 81.5% of the total token supply was allocated to the community, but with no vesting periods or locks, many of these tokens quickly hit the market. The airdrop, while effective in spreading token ownership, also contributed to the downward pressure as early participants took profits. Despite its early hype and strong community support, DOGS has struggled in a market where investors are increasingly risk-averse.
Crypto All-Stars Gains Traction Despite Market Woes
Crypto All-Stars has emerged as a beacon of hope for meme coin enthusiasts. The project’s initial coin offering (ICO) has already raised nearly $1 million in just a few weeks, signalling strong interest from the crypto community despite the overall bearish market.
What sets Crypto All-Stars apart is its innovative feature, the MemeVault—a hub where investors can stake popular meme coins and earn STARS tokens as rewards.
The MemeVault simplifies the process of managing multiple meme coins, offering a one-stop shop for investors to maximise their returns. This feature has been a significant factor in attracting interest from meme coin holders looking for a safer and more efficient way to engage with their assets.
BUY $STARS BEFORE IT PUMPS 100X
The project also offers a triple rewards system for STARS holders. Those who already hold STARS can earn three times the yield when staking in the MemeVault, further incentivising long-term holding.
In addition, STARS itself can be staked through a dedicated app, currently offering a staggering 1,463% APY, making it one of the most attractive staking opportunities in the market.
The project has quickly gained traction, with 503 million STARS tokens already locked up, even before the ICO has concluded. Crypto All-Stars has also built a strong community, with its Telegram channel boasting over 1,800 members and its social media engagement continues to grow.
The project has also been audited by SolidProof and Coinsult, adding a layer of security and trust for investors.
INVEST IN $STARS EARLY BEFORE IT BECOMES NEXT 100X CRYPTO
While DOGS struggles to find its footing, Crypto All-Stars continues to gain traction as one of the most promising meme coins in the market. Its innovative features, such as the MemeVault, triple rewards system and high staking APY, make it an attractive option for investors looking for a meme coin with real utility.
As the crypto market faces ongoing volatility, investors are increasingly seeking out projects with strong fundamentals and community support. Crypto All-Stars checks both boxes and with its ICO nearing the $1 million mark, it’s clear that there is significant interest in this project.
For those looking to profit in a challenging market, Crypto All-Stars may be the meme coin to watch. With its unique value proposition and growing ecosystem, STARS could emerge as a major player in the meme coin space once the market recovers.
