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As the bull market decelerates, leading meme coins, Shiba Inu, and Dogecoin, have drawn particular attention due to their recent price movements.
Shiba Inu (SHIB) has increased by 160% over the past month, with its price now slightly below $0.0003. However, it has decreased by 30% in the last two weeks.
Dogecoin (DOGE), on the other hand, has seen its price rise by 55% in the past month. Although, it has also experienced a decline of 21% in the last two weeks.
While both meme coins have been in the spotlight, a new cryptocurrency, Dogecoin20 ($DOGE20), is emerging as a potentially significant player. It has already raised $4 million in its presale phase, indicating strong interest and potential for growth.
Analysts are closely monitoring it, suggesting it might outperform other meme coins soon.
Let’s find out why $DOGE20 got crypto influencers hyped up.
Dogecoin20 Aims to Improve the Original DOGE Functionality with New Features
Dogecoin20 is taking the meme coin concept to the next level by integrating a proof-of-stake consensus mechanism. That approach drastically cuts down on the project’s environmental impact.
The initiative is inspired by the original Dogecoin’s motto of “Do Only Good Everyday.”
This crypto aims to extend this philosophy by maintaining Dogecoin community and fun spirit. It will improve that with practical features that address modern concerns.
While Elon Musk originally planned DOGE to be more eco-friendly, that idea hasn’t taken off. Dogecoin20 is looking to change that and honor the Tesla CEO’s vision. Simply put, this crypto is advancing the meme coin idea.
Dogecoin20 Launches Staking Feature for Passive Earnings with Doge-Inspired Cryptos
It is shaking things up for its community by introducing a staking feature that lets users earn passive income. By depositing their $DOGE20 tokens into the staking protocol, community members can set themselves up for rewards that accumulate over time.
The unique aspect of this system is how the rewards are calculated. The number of tokens you stake against the total pool directly influences your earnings. In simpler terms, the more you stake, the more you stand to earn.
To get the ball rolling and boost participation, Dogecoin20 has allocated 15% of all $DOGE20 tokens to fund these staking rewards over the next two years.
In a move to make the first year particularly attractive, 12.5% of the total reward pool will be up for grabs. This generous early allocation is a strong motivator for users to start staking as soon as possible.
Dogecoin20’s Strategic Reward Allocation Fuels Long-Term Growth
It is more than just a way to earn passive income – it’s built on a strong tokenomics strategy aimed at ensuring the project remains sustainable and competitive. The project, driven by its community, has allocated its 140 billion $DOGE20 tokens to balance growth and stability effectively.
During the presale phase, 35 billion tokens were offered at $0.00014 each. The price has since risen to $0.000202 per token, and it’s expected to keep climbing as the presale progresses.
To grab the necessary attention in the crowded space of dog-themed meme coins, this project has set aside another 25% of its tokens for marketing initiatives. It is a strategic move aimed at boosting the project’s profile and attracting more participants.
Regarding the distribution of the rest of the tokens, here’s how it breaks down:
– 15% is designated for staking rewards, which supports passive income opportunities for those in the Dogecoin20 community
– 10% of the tokens are reserved for liquidity on Decentralized Exchanges (DEX) to enable a smooth and stable trading experience as Dogecoin20 launches on these platforms. This thoughtful allocation supports the project’s long-term goals, demonstrating a commitment to future success
– 25% is funneling into the project’s treasury to support future development and operations, ensuring financial health
Final Thoughts
With the bull market showing signs of slowing down, leading meme coins such as Shiba Inu and Dogecoin are experiencing a downturn.
However, there’s a new player on the scene, Dogecoin20, which offers a fresh investment opportunity.
It aims to outperform the current favorites and position itself as the top-performing coin of 2024.
It’s backed by a combination of strong tokenomics, increasing positive sentiment, a dedicated community, and a strategic plan that builds upon the legacy of the original DOGE, suggesting the possibility of significant returns.
If you’re looking to get in on the ground floor, now is the perfect time to consider investing in $DOGE20 before it skyrockets.
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
