This week, the cryptocurrency market has seen several meme-related stocks rise, such as GameStop (GME) and AMC (AMC), after Keith Gill (Roaring Kitty), the investor who fueled the GameStop craze in 2021, returned to X and made his first post in three years .
CoinGecko data also showed that meme coins are popular again among investors. As of the time this news was written, the meme coin industry has grown faster than the entire cryptocurrency market in the last day. While the overall market value of the cryptocurrency industry grew by 5.5 percent, Bitcoin (BTC) experienced a 6 percent increase.
The total market value of the meme coin industry exceeded $53 billion as of May 16, 2024. The return to meme coins has benefited new projects the most, thanks to investors willing to participate early. Dogeverse token purchases have reached almost $20 million.
The multi-chain project also attracted the attention of investors who were not yet aware of it.
A whale recently purchased Dogeverse tokens worth $183 thousand, which led investors to investigate the project.
Investor Influx to Dogeverse Project with Multi-Chain Feature
Dogeverse (DOGEVERSE) is the first meme coin to operate on multiple blockchains, providing a significant advantage in serving its growing user community. Dogeverse operates independently without relying on just one blockchain, using Wormhole and Portal Bridge technology.
This functionality allows users to experience fast and seamless transitions between different chains. Currently, it operates on six leading blockchains, namely Ethereum, BNB Chain, Polygon, Avalanche, Base and most recently Solana.
Each blockchain in Dogeverse’s network offers unique benefits. Choosing to start on Ethereum ensured excellent compatibility and broad adoption with Dogeverse’s plan to expand across various blockchain networks.
As a result, Dogeverse investors can easily and securely switch between different chains by leveraging Ethereum’s reliable infrastructure. While BNB Chain stands out with its low transaction fees, Polygon increases scalability.
While Avalanche guarantees fast transaction processing, Base prioritizes user privacy. Solana, on the other hand, offers an attractive combination of superior performance and cost effectiveness. The implementation of multi-chain features is seen as a significant advancement for the cryptocurrency market, especially in the meme coin industry.
In other words, the project’s potential to allow users to quickly transfer money between chains is an innovation that many people are looking forward to.
This underscores Dogeverse’s commitment to innovation and its leading position in the ever-changing digital asset industry. For this reason, Dogeverse token purchases took place intensively on Yroje, enabling the decentralized exchange (DEX) to raise nearly 20 million dollars before its launch.
Dogeverse Pre-Sale Breaks Record
The level of enthusiasm surrounding Dogeverse’s Initial Coin Offering (ICO) is also dazzling. It is also a great success that the project has raised so much funds in just over a month. Additionally, those who have not yet participated still have a chance to get involved. Currently, in the ongoing phase of presale, the value of DOGEVERSE tokens is set at $0.00031 per token.
However, it seems likely that this price will change soon as the token sale reaches its final stage. After the ICO is completed, the Dogeverse team stated that they will proceed with the initial DEX listing to meet the demand from investors.
To ensure sufficient funding availability for this particular listing, 25 percent of the entire offering went to fund the project. 10 percent was allocated to liquidity, 25 percent to marketing, 10 percent to ecosystem funds and 5 percent for listing on exchanges.
Originally scheduled to end on June 11, the presale is now expected to end earlier due to significant demand. The team is currently primarily focused on quickly introducing Dogeverse’s multi-chain features to the public.
Dogeverse’s team aims to elevate meme coins to new levels by combining cross-chain interoperability and passive income prospects.
Dogeverse’s Staking Mechanism
Dogeverse operates a staking program that provides a high annual percentage return (APY). The project offers the opportunity to stake tokens as soon as you purchase them. To start earning rewards, it is enough to connect it to one of the major wallets such as Wallet Connect, Best Wallet, MetaMask or Coinbase Wallet.
In the meme coin culture, community participation is very important, so Dogeverse emphasizes this by allocating 10 percent of its entire supply for staking rewards. Investors who own Dogeverse tokens can choose to stake them on the Ethereum platform to receive passive rewards, thus generating passive income.
As of press time, investors who stake Dogeverse tokens can earn a 55 percent annual percentage rate (APY). More than 29 billion tokens are currently staked, but this rate will gradually decrease as more people join the staking pool.
Disclaimer: This is a sponsored content and press release and what is written here cryptokoin.com It does not reflect the views of the team. High risk of loss should be taken into consideration in leveraged transactions and cryptocurrency investments, and extensive research should be done before investing in any platform.
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