One of the most exciting presales is closing in on $11 million raised and, unsurprisingly, is showing no signs of slowing down as whales continue to buy up lots of Dogeverse (DOGEVERSE). At this rate, we expect the presale to sell out in no time at all, so potential investors should be ready to act, as the best prices will soon disappear.
In this article, we will examine the positive aspects of Dogeverse so readers can see why it is so popular. Alongside these selling points is the undeniable fact that Dogeverse’s popularity is also driven by the decline of Dogecoin (DOGE) and investors looking for a better option. We will first take a look at this decline to explain part of the reason meme coin buyers are turning to this new alternative.
Dogeverse- Does This New Dogecoin Alternative Signal the End For DOGE?
As we mentioned above there has been huge support already for the Dogeverse (DOGEVERSE) presale. It is closing in on $11 million raised, besides being barely a couple of weeks old. It is very unusual to see a presale raise this much money so quickly, especially considering market conditions have not been that bullish.
Not only does Dogeverse have the properties necessary to succeed but its timing is also impeccable. It has been noticeable now for quite some time that Dogecoin (DOGE) is faltering. 2023 was a huge year of growth for meme coins and 2024 has continued in that vein yet Dogecoin has had measly gains in comparison to many of its meme coin rivals.
A lot of this has to do with a changing meme coin market. Since the Pepe Coin (PEPE) pump this time last year the meme coin market has exploded. This has led to more competition and in turn more innovation. For example, Dogeverse is a multi-chain meme coin that would have been unheard of last year. More on that later.
Whole projects have been developing and innovating, Dogecoin has pretty much stood still as its hopes almost totally ride on Elon Musk. They have put all their eggs into becoming a more popular accepted payment for vendors and that dream likely relies on X or Tesla being the first domino to fall. Something that looks increasingly unlikely every passing day.
Why Dogecoin May Not Have Much Hope For the Future
Perhaps even more damning is the fact that Doge Day passed, and Dogecoin made barely a whimper. While at the same time, Dogeverse continued to raise millions. Maybe the biggest issue for Dogecoin going forward is actually related to energy concerns.
We have seen this year the market make huge strides to move more into the mainstream. Most of this came from spot Bitcoin ETFs. 99% of this is positive but it also puts a regulatory spotlight on the market that many would prefer to avoid. We have already seen lawmakers in the United States make an attempt to investigate the energy output from Bitcoin mining.
While crypto’s number one token is getting most of the negative attention when it comes to environmental issues, Dogecoin is likely going to get some heat soon. It also uses a proof-of-work system that, according to Digiconomist, causes it to use the same amount of electricity annually as the entire country of Yemen.
With all these negative aspects surrounding the project, it is no wonder investors are turning instead to Dogeverse.
Cosmo the Chain-Jumping Dog Could Lead Dogeverse to the Top of the Meme Coin Market
We have touched on the fact already that Dogeverse is a multi-chain project. In fact it is the first ever six-chain project as it jumps between both layer-1 and layer-2 chains. This is all thanks to Cosmo the dog whom the meme coin is based on. He was born with the unique ability to jump from chain to chain and he may someday jump to the top of the meme coin ladder.
The Layer 1 chains that will be included in Cosmo’s adventures are Ethereum, Avalanche, Solana, and BNB Smart Chain, while the Layer 2s are Polygon and Base. In the meme coin world things quickly change, just look at Solana’s ascension past Ethereum. This would have been thought of as impossible last year.
Dogeverse, being a multi-chain project with so many bases covered, means it is ready for any change that the market may throw at it. Meme coins have shown that they can help chains grow so Dogeverse’s multi-chain ability means it opens itself up to a much bigger customer base than most other rival projects.
One of the main advantages a Dogecoin alternative can have over the original is a staking system. Readers will have noticed in the last six months or so staking has become almost crucial to a new project’s success. It is a no-brainer decision as investors get a chance to earn more crypto while the project gets an extra layer of security from a pump-and-dump scenario.
Dogeverse has set up their project so investors can begin staking right after purchasing. Already over 14 billion DOGEVERSE tokens have been staked which is a staggering number. Despite this, the APY% still stands north of 100% which means that investors are likely in for some big returns on their staked tokens once the time comes.
Conclusion
Dogeverse seems to have launched at the perfect time. It is the perfect example of a modern meme coin that understands that the market is growing and evolving. Doegcoin has been slipping for a while now and coins like Dogeverse that are just built better for today’s market could be the final nail in the coffin. Luckily for investors, there is still time to get involved before the listings begin.