Crypto whales are hoarding this new dogecoin Dogeverse. Will it become the next dogecoin?
The savviest pre-sale buyers are snapping up the crypto world’s strongest multi-chain “good dog” Cosmo, also known as Dogeverse ($DOGEVERSE), whose pre-sale will end at 10AM UTC on June 3.
$DOGEVERSE has a pre-sale target of $17 million and has raised over $15 million so far.
This latest Shiba Inu-themed meme coin has attracted meme fans, speculators, DeFi enthusiasts, and general cryptocurrency supporters, who believe that the token’s cross-chain functionality bodes well for the utility of meme coins in the future.
The current pre-sale price is $0.00031, which is the last fixed price before $DOGEVERSE goes public. This means that when the coin hits the open market via exchanges, its price may never be this low again.
However, since the coin has yet to hit the public market, its upside potential is unlimited. Some even believe the coin could make the original Dogecoin ($DOGE) redundant.
Dogeverse has advantages that Dogecoin does not have
The crypto market’s enthusiasm for doge-themed coins began in late 2013 with the release of Dogecoin (DOGE).
For creators Jackson Palmer and Billy Markus, the project was an irony. It was intended to mock the frantic craze for minting new cryptocurrencies, a fad that still exists a decade later. However, the crypto community sees it as an endearing symbol of playfulness and irreverence in the crypto world.
They saw a crypto project with strong viral appeal and an interesting community-building narrative. Dogecoin’s base of supporters grew rapidly, and soon they were calling themselves the “Dog Army.”
Many celebrities have jumped on the bandwagon, declaring their love for the original meme coin, including Tesla CEO Elon Musk, American entrepreneur Mark Cuban, and musician Gene Gene Simmons and Snoop Dogg.
As interesting as Dogecoin is, it also has its problems.
Since Dogecoin is based on Bitcoin's proprietary blockchain, it utilizes an outdated consensus mechanism called Proof-of-Work (PoW) to verify transactions.
This means that the miner with the most computing power mines the most Dogecoins. Like Bitcoin, mining $DOGE consumes a lot of energy.
Shiba Inu ($SHIB), Floki ($FLOKI), Bonk ($BONK) and DogWifHat ($WIF) were launched in the following years.
They all take as reference the original viral dog meme, in which the adorable Shiba Inu appears in some way, but they all come from the most commercially important blockchain, Ethereum, or its most recent competitor, Solana, both of which are more Bitcoin and Dogecoin use less energy.
To date, none of them have seriously challenged the dominance of the original coin.
Dogeverse hopes to change that.
Introducing Cosmo, the center of the multi-chain Dogeverse
At the center of the Dogeverse is our four-legged friend Cosmo.
Born in a supernova, Cosmo discovers that he has a unique ability: the ability to super-jump between universes.
Now, he exists in a multi-chain network spanning six chains, none of which adopt the PoW consensus mechanism, making him cleaner and greener than his inspiration.
Since the Dogeverse exists on multiple chains, anyone can create a link between Ethereum ($ETH), BNB Smart Chain ($BNB), Polygon ($MATIC), Avalanche ($AVAX), Base ($BASE), and Solana ( Buy it on $SOL).
Beyond Cosmo’s Dogeverse ICO
Dogeverse quickly sold out its initial soft cap of 200 billion tokens after it went viral following its pre-sale launch in early April.
Initially, the end of the ICO was scheduled for June 11, however, due to huge demand, it will end significantly earlier.
Funding for these additional tokens would have been sold on decentralized (DEX) or centralized (CEX) exchanges following claims.
They will now be used to enhance liquidity to ensure high trading volumes and capital for buyback funds.
Token holders can also stake their $DOGEVERSE on Ethereum to receive a pass. ive income.
The team is currently working hard to promote listing applications on CoinGecko and CoinMarketCap. After the pre-sale is sold out, subsequent DEX and CEX listings are also part of the project roadmap.
Is it summer Dogeverse season?
Meme coins tend to exaggerate broader market movements, meaning that when Bitcoin and Ethereum rise, they can rise significantly.
Dogeverse features staking capabilities, seamless multi-chain exposure, and some market-wide potential upside,
When claims for the tokens launch on June 5, subsequent price increases will likely push the token well beyond its current price range.
Learn more about the pre-sale on the Dogeverse website before it ends on June 3: https://cn.cryptonews.com/ext/dogeverse-cn/
Original text: https://cn.cryptonews.com/news/crypto-whales-are-stockpiling-this-new-dog-coin-is-it-the-next-dogecoin.htm
