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Crypto whales are an incredibly fascinating group of investors in the cryptocurrency market. Most of them saw the promise of this asset class at inception and decided to go big. Today, several crypto whales are billionaires and multi-millionaires, and more could be churned from unique projects like DigiToads that is already standing out, outperforming established megaliths in its ongoing presale.
Some of these whales made their fortunes in memecoins. This asset is unconventional, even in the relatively young industry. Nonetheless, some crypto whales saw the memecoin hype of Dogecoin early and bought significant amounts when this coin went stratospheric. These crypto whales also have eyes on many other cryptocurrencies and memecoins in the market.
DigiToads making waves among crypto whales
DigiToads is looking to revolutionize the concept of memecoins. Traditional memecoins like DOGE have risen on the meme aesthetic alone without offering much else. DigiToads launched to provide both the fun of a memecoin and utility as a play-to-earn gaming ecosystem.
This bold approach has caught the eye of crypto whales. A few weeks after launch, DigiToads has raised about $4.65 million in token presale. This extraordinary performance for a project launching in this period showcases the market’s belief in this project.
Utility refers to the value a crypto project offers beyond merely presenting a token. It includes creating a decentralized network, incentivized usage, and more dimensions that create a network effect in its applicability. DigiToads has created a gaming ecosystem whereby users can nurture digital toads and gain TOADS token rewards in their gaming.
Additionally, there is the chance to collect Non-Fungible Tokens (NFTs) throughout the game. Users can stake these NFTs and earn rewards, taken from a small percentage of TOADS transaction fees. These NFTs take after the toad avatars that are the game’s theme and form its memecoin aesthetic.
Crypto whales are drawn to DigiToads because it is not merely trying to replace or replicate Dogecoin. That is already a saturated space with the likes of Shiba Inu being pretenders to the throne. Instead, this project seeks to create enduring utility for its users and more sustainability for its investors.
Enduring interest in Dogecoin
The Dogecoin tale is one for the ages. Billy Markus and Jackson Palmer launched this cryptocurrency in 2013 as no more than a parody of Bitcoin. The entire concept was a digital currency on the blockchain whose logo was the Shiba Inu dog that had become an internet meme. It had no roadmap, utility, or vision of transforming the financial world as would be the case for other mainstream cryptocurrencies.
Well, the market went with the irony. Dogecoin took a while to gain recognition but started seriously appreciating around 2019. Billionaire tech entrepreneur and Twitter CEO tweeted a few times about the project, and it went stratospheric. In mid-2021, when the crypto market was pushing record highs, Dogecoin’s market capitalization went above $40 billion. This marked a staggering 18,000 % growth between 2020 and 2021.
It is easy to see why crypto whales fell in love. Such returns have not been seen since the early days of Bitcoin. At peak capitalization, several dogecoin multi-millionaires emerged, many of whom hold this coin to date.
Well, the DOGE has since lost a significant part of those gains. Still, it has retained about a quarter of its peak market capitalization, which is still a crazy amount for a joke that went too far.
Conclusion
Crypto whales are notable for their relentless pursuit of the best opportunities in the market. The fact that a significant number are circling a memecoin project like DigiToads indicates its potential upside. This interest has seen the DigiToads presale far exceed expectations in a difficult market. It will be fascinating to track the activity of crypto whales around these favored digital assets.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
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