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Recently, many cryptocurrencies have lost their upward momentum and are moving towards support levels. This trend has led to an increase in red candles, especially in the meme coin sector, where the bullish momentum of leaders such as Shiba Inu has decreased. As prices continue to fall, concerns are growing among analysts about whether the bulls will be able to stem the decline.
Bitcoin, the leading cryptocurrency, experienced a significant price correction yesterday and its price dropped to $64,000. This significant drop in BTC’s value could be due to a massive wave of liquidations worth over $161 million. This decline may also affect other cryptocurrencies. Shiba Inu (SHIB) is down 7 percent on the daily and 12 percent on the weekly.
The Shiba Inu community and developers continue to make significant efforts to restrict supply amidst this recent market downturn. According to Shibburn data, the month of March witnessed the removal of more than 10 billion SHIB tokens from circulation. This signals a concerted effort to reduce circulating supply.
HOURLY SHIB UPDATE$SHIB Price: $0.00002667 (1hr 0.75% ▲ | 24hr -5.55% ▼ )
Market Cap: $15,739,758,315 (-5.40% ▼)
Total Supply: 589,275,461,065,332TOKENS BURNT
Past 24Hrs: 106,785,587 (1204.67% ▲)
Past 7 Days: 264,131,684 (55.98% ▲)NEWS CONTINUES BELOW— Shibburn (@shibburn) April 2, 2024
As a result, the SHIB team is trying to take precautions against price drops, but this drop performance is not unique to the Shiba Inu. Following Bitcoin’s decline, other cryptocurrencies, including meme coins, are experiencing similar trends.
According to sponsored content, it is claimed that the DOGE20 token may continue to burn green despite the red candles currently seen in the crypto market. The Dogecoin20 project, which has gained popularity recently, has actually finished its pre-sale. However, a final stage has been launched for those who want to purchase Dogecoin20 tokens and sales can continue until DOGE Day, April 20. In this sponsored article, the details of this project are conveyed.
Dogecoin20 (DOGE20) – Meme Coin Project Nearing Its Final Stage and Pre-Sale
Dogecoin20 (DOGE20) is a meme coin that builds on the fun nature of the biggest meme coin Dogecoin and currently uses an environmentally friendly Proof of Stake (PoS) mechanism on Ethereum. DOGE20 seems to have the potential to become one of the trendiest meme coins of 2024 with its more sustainable opportunities.
The fact that the project is a more rewarding and environmentally friendly alternative to Dogecoin attracts the attention of many meme coin investors. It is also said that DOGE20’s biggest advantage, unlike Dogecoin, is its potential to provide passive income to users through staking.
What is DOGE20?
Buying Dogecoin20 tokens means investing in a project built on Dogecoin principles but using Ethereum’s PoS system, a much greener mechanism. DOGE20’s PoS solution offers a more environmentally friendly alternative to the Proof-of-Work (PoW) mechanism used by Dogecoin. It also allows users to accumulate passive income. The PoS model is also said to increase the speed and security of transactions.
Dogecoin20 has attracted a lot of interest from investors since the start of its presale. The project has actually finished its pre-sales phase. However, it launched a final stage to give investors one last chance. According to the project’s website, DOGE20 sales seem to continue until April 20, which is called “DOGE Day” by Dogecoin lovers. Investors can purchase Dogecoin20 tokens for $0.00022 each.
Exchange launches of DOGE20 may also begin on DOGE Day. If the token manages to be listed on major exchanges, it is thought to be one of the meme coins that will mark 2024.
It Attracts Attention With Its Staking Mechanism
The project has a staking mechanism as a central feature and allows its investors to earn an APY of 65 percent at the time of writing. This APY rate will gradually decrease as more users participate in staking. Thus, the project offers more reward opportunities to those who stake early.
With 12.5 percent of the total token supply allocated to staking in the first year (and 15 percent after two years), investors have an exciting opportunity to grow their potential income with passive income.
According to the Dogecoin20 whitepaper, the platform’s total supply is limited to 140 billion tokens. 25 percent of these tokens will be available to early investors during the pre-sale. Dogecoin20’s published schedule includes various strategic events such as a fair presale, early staking allocations, and listing on the DEX via Uniswap.
DOGE20 Emphasizes Community Support
Dogecoin20 generated almost $2 million in revenue just five days after the start of its presale. This shows that there is strong community support behind it. The project managed to generate more than $10 million in total from its pre-sale. He reached this point quickly.
The huge support from the community naturally helped a lot in reaching this amount. The team hopes to attract the attention of Dogecoin investors in particular. When it comes to meme coins, the bullish trend seen in recent months and the resurgence of crypto market processes could help Dogecoin20 start growing. The platform plans to secure listing on leading crypto exchanges in the coming months. Increased investor interest in meme coins may increase demand for DOGE20.
Click to review DOGE20 Token from the official website
*This article is not investment advice! This is sponsored (advertising) content. Cryptocurrency investments are high risk investments, do your detailed research before making any transaction!
