Meme coins took a hit Wednesday morning as part of a wider market correction. However, multi-chain meme coin Dogeverse has raised $800,000 in less than two days.
The meme coin market took another hit today as prices across the sector slid for the third day in a row. Popular meme coins such as Doge (-3%), Pepe (-5%) and Dogwifhat (-11%) all recorded losses to start the day signaling a wider pullback in the crypto market. That said, the meme market itself has grown by 2% in the last 24 hours.
The general feeling behind the pullback is traders’ lack of appetite for risk on assets in what is a wider market cool-off. However, many traders are still bullish on memecoins overall.
As the 8th largest crypto by market cap, Dogecoin has the strongest fundamentals of any meme coin. However, even Elon Musk’s favorite crypto has been struggling this month recording only a 6.85% increase in price. The coin has been rejected twice at the $0.22 zone but has found some support at $0.19. Moving forward, one would hope that the coin can use this level as a springboard for further price discovery.
Pepe meanwhile, paints a rather different picture. Falling by over 23% in the last month, the coin has at least found some support around the $0.0000065 to $0.0000069 zone which should give traders some degree of confidence. However, Pepe’s steady decline from its all-time high of $0.000010 on 14th March is a continuing cause for worry.
The meme coin of choice, for this year at least, Dogwifhat has recorded an impressive 55% in the last month hitting an all-time high of $4.80 on 31st March. However, when we look at the price action over the last 7 days, a different picture emerges. Falling from just over $4, the current price of Dogwifhat is $3.47, a decline of 15% in the last week.
Is this the end of the meme coin hype for this cycle? Is buying a meme coin now investment suicide? Well, given the strength shown by Doge the answer has to be no. What’s more important is finding the right meme coin that will provide strong returns. Even better if you can buy the coin early and at the right price.
Dogeverse ICO Raises $800k In Just Two Days
One new coin that is creating waves in what many consider an overcrowded space is Dogeverse. After raising more than $800k in just two days, the token has caught the attention of many early investors.
This brand new meme coin is a spin on the popular doge theme and has been released to take advantage of the building hype around the forthcoming ‘Doge Day’ on 20th April. With the Bitcoin halving expected to happen on the same day, many experts believe that media attention will return to the crypto market driving positive price action once again.
However, Dogeverse is more than just another dog-themed meme coin. The token has been built on the Ethereum network and has been designed to operate across a number of popular blockchains.
This multi-chain functionality means that the coin can be bought and used across a much wider number of competing chains which is making it more attractive to early-stage investors than other less dynamic meme coins. The token is currently available on the Ethereum, Binance and Polygon chains with plans to launch on Avalanche, Base and Solana in the pipeline.
Passive Staking Rewards
Dogeverse token holders are also able to stake their tokens to earn extra rewards. With 6088.8 tokens rewarded for every Ethereum block processed, there has never been a better time to buy.
Obtaining Dogeverse tokens couldn’t be easier. All you have to do is connect your Ethereum wallet to the Dogeverse website, choose your network and complete the purchase with either ETH, BNB, MATIC or USDT.
For more information on the project, head over to the Dogeverse official site. To keep up to date on all the latest news, you can follow the project on X and join the Telegram group.
