Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
After raising over $15 million in its presale, Dogeverse is just one week away from its initial exchange offering (IEO).
Dogeverse is just one week from its initial exchange offering (IEO) after being able to raise $15 million in its presale. While excitement is ramping up in preparation for its IEO, several factors could make Dogeverse one of the biggest new memecoins of 2024.
Pepe booms as Dogeverse’s umbrella catches many narratives
Since the United States Securities and Exchange Commission approved Ethereum spot ETFs on 23 May, Pepe has enjoyed outsized growth and is trading at an 80% weekly premium.
This makes it the leading benefactor of ETH ETFs, reflecting the significance of memecoins in the current market cycle.
Other Ethereum memecoins have also benefited from the ETF approvals, with Floki up 33% this week. But the forward-looking crypto market is quickly turning to the next potential narrative and that is Solana ETFs.
Analyst Symbiote highlighted this and speculated that Solana ecosystem tokens will resultantly soar.
However, the newly launched Dogeverse stands to benefit no matter which blockchain takes the limelight. That’s because Dogeverse is a multichain meme coin, launching on Ethereum, Solana, Base, BSC, Polygon, and Avalanche.
This multichain approach also lays the foundations for a strong on-chain memecoin community and opens the project to investment potential.
In this regard, Dogeverse is proving to be one of 2024’s hottest presales. But in a bid for long-term potential, the team has introduced new measures, such as a staking layer.
Generous staking rewards to drive up demand
Dogeverse staking is already live and currently offers a 48% APY. However, this is expected to decrease as more tokens are staked, incentivizing early buyers. The staking mechanism intends to drive up demand while encouraging long-term holding, thus minimizing sell pressure.
Through these dynamics, Dogeverse could enjoy added price stability over other memecoins, and this will only be amplified by its versatile multichain approach. Prominent industry figures have noted this and backed the project for growth post-IEO.
Leading analysts are bullish and speculate 10x returns
In a recent YouTube video, prominent low-cap trader Jacob Bury speculated that Dogeverse could see 10x gains following its exchange launch.
Bury was an early backer of projects like Smog and Sponge, which each soared 100x, so his support for Dogeverse could hold weight.
Meanwhile, ClayBro noted that there are just seven days until the Dogeverse presale ends and provided bullish expectations on where it could be headed after launching.
Interest in the project has also reached mainstream crypto media outlets, with Cointelegraph, The Tech Report, and Crypto Potato covering it.
However, with the presale ending in one week, time is running out to secure the current fixed and discounted ICO price. Follow Dogeverse on X or join its Telegram for the latest news. Alternatively, visit its website to buy and stake tokens. To learn more, visit the Dogeverse presale.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Source link