2024-03-21 19:31:51
Although the Dogecoin and Shiba Inu meme cryptos have languished in the past seven days, a new coin, Dogecoin20, is having a very good day, as its ICO is already close to raising $4.5 million.
In the past seven days, the news was not about a meteoric rise, but a dramatic fall, with Dogecoin and Shiba Inu, for example, falling 18.56% and 19.95%, respectively.
However, despite the well-perceived cooling in the field of individual cryptos, a new coin forewarning, the Dogecoin20 (DOGE20) is listed quite brightly.
Dogecoin and Shiba Inu found themselves in the middle of a broader market downturn
In the recent period, the entire crypto market has stagnated a bit, but it is starting to gain wings again.
According to CoinMarketCap, the total crypto market capitalization is $2.54 trillion, up 6.196% today.
Dogecoin and Shiba Inu sell-offs mean traders are uncertain and looking to divest their more volatile assets.
Market participants practically follow an ancient recipe: in ideal market conditions, they take on more risk, while when conditions worsen, they tend to turn their heads towards lower-risk assets, such as Bitcoin, Ethereum and Fiat.
At the time of writing, Thursday morning, Dogecoin (DOGE) is $0.1518, down 18.56% for the week, but up 13.45% today and up 82.35% this month .
Source: Coinmarketcap
A Shiba Inu (SHIB) its price is also worth a look: the coin is currently at $0.00002694, which represents a 6.30% increase, but still brings together a 19.95% drop for the week. It is true, its monthly performance is quite nice, it saw an increase of 185.03%.
Source: Coinmarketcap
The market sentiment is slowly but surely starting to turn around, so it may be time to buy some altcoins again.
The one with 151.1 thousand followers Cryptoanalyst Kaduna in his X post he said that most people find it difficult to profit on so-called green days, but it is difficult for them to buy on red days. In fact, traders often do the opposite and lose money because of it. Investors just buy and do nothing.
Dami DeFi believes that the already proven meme coins will be the best sellers, and because of this, Dogecoin and Shiba Inu can also enjoy a rapid boom.
The plan never changed.
On red days 🔻, we buy the dip.
DCA into any coins you have a strong conviction in and in a few months you’ll smile.
I would take a look at the larger AI and more established memes as they would bounce back the quickest.
See you on the 7 fig mark 🤝.
— Dami-Defi (@DamiDefi) March 19, 2024
Of course, one should always prepare for some sort of consolidation movements before any exponential rise.
According to analyst DavidOnCrypto, DOGE behaves exactly as you would expect it to:
$DOGE continues to do what i expect it to do after that weekly breakout. 👀 Range range range, then boom! another move towards $0.37 – $0.50 🔥✍️ But you won’t be ready for it when the next move happens. For now the name of the game is “range range range” lol pic.twitter.com/mZc1ZBaszl
— David, 🐐 The Crypto Bull 🀄️ (@DavidOnCrypto_) March 18, 2024
All in all, Dogecoin and Shiba Inu can be volatile in the short term, but in the long term, there is a prospect of more success.
It is not too late to enter the market of meme coins, for example, there is a new savior, the cool ICO of Dogecoin20, which has already collected more than 4.5 million dollars.
LFG!!! 🚀
Another insane milestone for #DOGE20! 💥🐕
Raising over $4.5 Million! 💰
Can this day get any better? 🤔
Hmm… Only if we hit $5M! 😊 pic.twitter.com/kGIpWkHYqj
— Dogecoin20 (@DOGE_COIN20) March 21, 2024
This fresh meme coin has already soared through its $4.5 million ICO fundraising
The Dogecoin20 meme coin is inspired by Dogecoin and enters the hitherto uncharted territories of the DeFi sector.
When software engineers Billy Markus and Jackson Palmer came up with the funny Dogecoin in 2013, no one had any idea that it would grow into a global Internet sensation, boasting a market capitalization of $84 billion at its peak.
Dogecoin was not prepared for such a success, but the Dogecoin20 meme coin called on innovative technology to enter the ruthless competition of meme coins with more confidence.
The project attracts investors with a Stake-to-Earn mechanism where they can currently collect 202% APY. True, this percentage will continuously decrease as the staking pool expands.
Dogecoin20’s token pool is capped at 140 billion, so it aims for scarcity. This gives it a clear advantage over the inflation-prone Dogecoin.
According to cryptoanalyst Jacob Bury, in addition to being the best crypto today, DOGE20 “the next Shiba Inu” can also be.
The investment community is quite interested in the coin, and the ICO has already raised $4.5 million.
If you also want to buy, you don’t need to wait, because currently you can get DOGE20 coins at a very discounted price, only $0.000203 per piece. Since the pre-sale is staggered, the price goes up mercilessly every few days.
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**Attention! Our article above is guest content and does not constitute investment advice. The editors of BitcoinBázis do not take responsibility for what has been described and urge all readers to exercise caution in connection with cryptocurrency, CFD, token, cryptocasino, metaverse, DeFi, play-to-earn and ICO/STO/SAFT investments. Individual research and thorough verification of claims is highly recommended. Trade and play responsibly.**
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