Bitcoin

New Cryptocurrency ICO Dogecoin20 Launches With $250,000 Raised On Day One – Next Big Meme Coin?

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Dogecoin20 is the latest and greatest addition to the Doge family of meme coins. Dogecoin20 ($DOGE20) is the standout uber upgrade of the dog meme coin and could be the next Dogecoin or Shiba Inu. 

Dogecoin20 has raised $250,000 in less than 24 hours, making it a prime candidate to be the next meme coin for a viral explosion.

From joke to multi-billion dollar valuation, Dogecoin is the top dog meme coin by dint of a community built around the meme humor of the internet. It was Doge that captured the zeitgeist of the crypto online world when Billy Markus and Jackson Palmer dreamt up the joke coin while working on their day jobs.

No one is laughing anymore about meme coins. The meme coin category is valued at $56 billion, while Dogecoin and Shiba Inu cryptocurrencies have market capitalizations of $22 billion and $16 billion, respectively. Put that another way, Dogecoin has a market valuation that is the same as Warner Bros. Discovery or State Street.

Just as the death of bitcoin has been foretold many times, it is the same with meme coins. However, while there is only one bitcoin, there are thousands of meme coins vying for our attention. 

Yet none is better placed to capture the attention of market participants than Dogecoin20 – and that’s because it is the first serious upgrade of the Dogecoin brand and product offering.

Already a quarter of a million dollars has been contributed in the Dogecoin20 presale as the new Dogecoin takes sprints towards its first price increase in its staged fundraising. 

There’s no time to lose to catch the lowest-ever price for the next crypto to explode and mint more meme coin millionaires. 

Additionally, buyers can stake-to-earn from the get-go, even while the fundraising is still underway, providing further incentive to get in early during the ICO. Rewards for stakers at the time of writing is 2,073% per annum. 

As we have seen, Shiba Inu and Dogecoin today command multi-billion dollar valuations. From an alpha-seeking investor’s point of view that means there are likely to be better risk-reward opportunities among the smaller-cap meme coins. 

That hunch is borne out by the facts, as shown in the chart below where newcomer ‘small fry’ competitors such as $PEPE, $WIF and $FLOKI are outperforming the old hands.

Dogecoin Needs An Upgrade – Dogecoin20 To The Rescue

Still, for all Dogecoin’s success since its launch in 2013, a decade is a very long time in cryptoland so it is time for a revamp, and that’s exactly what Dogecoin20 is all about.

Ten years in crypto is the equivalent of a century in the legacy world, so, it could be said, the revisiting of Dogecoin is long overdue.

And to say that crypto watchers are straining at the leash to get in on the Doge action would be the understatement of this emerging crypto bull cycle.

Elon Musk is still obsessed with Dogecoin. At the Tesla Giga Berlin event this week he was asked if Dogecoin would be turned on for payments for his companies. His reply was greeted by cheers from the audience: “At some point, I think we should enable that… Dogecoin to the moon.” In response, Dogecoin pumped another 10%.

Those who bought Dogecoin at its low point nine years ago will today be sitting on a gain of 92,632%. Even more remarkably, those returns are against a backdrop in which Dogecoin is 77% off its all-time high.

The Dogecoin shiba inu mascot has much further to run, which is why $DOGE20 has come at just the right time, with a menu of improvements that will power the Dogecoin meme coin community to new heights.

Dogecoin On Ethereum Makes Dogecoin20 The Future-Proof Always-Improving Doge – Here’s Why

When Dogecoin was designed, it leaned heavily on the technology of what was the second largest coin to bitcoin at the time, Litecoin. Litecoin was actually a fork from the bitcoin blockchain, from which it inherited the idea of proof-of-work for its block verification mechanism, but with a twist – a newer system called Scrypt. 

Scrypt is less energy intensive and faster than bitcoin’s proof-of-work, hence its adoption by Litecoin and a number of other coins, Dogecoin included. 

Fast-forward to 2024 and even Scrypt is a laggard technologically speaking as more and more coins shift to proof of stake, which dispenses with the computationally expensive proof of work mining in favor of the orders of magnitude faster proof-of-stake that does not require the solving of math problems through wasteful competitive processes between miners.

Unlike Dogecoin then, Dogecoin20 runs on the proof-of-stake Ethereum network, bringing Dogecoin up-to-date with the latest blockchain technology. 

True, proof-of-stake has been around for a little while, but for Ethereum it is a relatively recent development and Ethereum is arguably the most important blockchain in crypto because of its ability to run an infinite number of decentralized applications. 

Its team of developers led by founder Vitalik Buterin has shown themselves adept at upgrading the Ethereum network with minimal difficulties. The most recent example of this is the Dencun upgrade as the project progresses on its roadmap to deliver a superfast and cheap decentralized network with the scale to run all manner of commercial and industrial-grade applications.

Staking Means Rewards For Community Philanthropy, Keeping Alive The Original Dogecoin Spirit

Not only is Dogecoin20 an ERC-20 Ethereum-compliant token, making it future-proof and part of a network that is continually improving its technology stack – it is also offering passive income through on-chain staking.

Community-building and staking is a partnership made in heaven. Dogecoin20 has allocated 15% of its total token supply to distributing rewards to its community of stakers. The total token supply is 140 billion.

The rewards will be disbursed over a two-year period. In year one 12.5% of the supply will be available to distribute and in the second year a further 2.5%. The higher the proportion of the staking pool owned by a staker, the higher the reward – 6,751 Dogecoin20 are distributed in rewards for each ETH block.

Staking incentivizes the community to take a long-term view. Just as how the tipping culture allowed Dogecoin to grow its community in its early days, Dogecoin20’s team sees a similar dynamic coming into play with staking. However, instead of giving away tokens, stakers will be receiving tokens as rewards as a passive income stream.

But Dogecoin20 is also staying true to the philanthropic culture of Dogecoin. Like Dogecoin, Dogecoin20 will encourage the community to “Do only good every day”.

Supporting each other and being kind were the watchwords of Dogecoin as set out at dogecoin.com. However, to do that requires the acquisition of wealth in the first place, so that a portion of it can be given away to good causes. 

Dogecoin20’s mission in life is to empower its community to grow and enrich itself in order to  “do only good every day”. What’s not to like? 
$DOGE20 can be bought with ETH, USDT, BNB or with fiat using a card. Keep in touch with this fast-moving project on X/Twitter and Telegram.

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