2024-04-18 18:36:18
The new Ethereum-based Dogecoin alternative, Dogecoin20 ($DOGE20), is up over 100% less than an hour after landing on the leading decentralized exchange (DEX), Uniswap.
The frenzied buying activity was largely driven by anticipation of Saturday, April 20, 2024, due to the Bitcoin halving and International Doge Day.
The Dogecoin20 claim went live at 10 a.m. this morning. THE ICO it ran throughout March and earned the team over $10 million. The fundraiser was originally scheduled to end on Saturday, April 20, but due to high demand and the strategic appeal of Doge Day, the team decided to close it early.
April 20 was chosen by the Dogecoin community for its association with 4/20. The self-proclaimed “Doge Army” makes the day fun and irreverent, just like their favorite play. This is the same day when investors are most likely to buy dog-related coins to take advantage of the hype.
However, since there are many dog-related memes in the market, it would be difficult to find the cutest one. Dogecoin20 offers a cleaner, greener, and more useful token than its namesake, the classic Dogecoin (DOGE). Maybe DOGE20 will be the dog coin?
https://twitter.com/DOGE_COIN20/status/1780904376141230328
About 45 minutes after listing on Uniswap, the price of DOGE20 surged 101% to $0.0003632. The token has since pulled back slightly as early degens took some profits, but it is still trading above its launch price as it consolidates for the next rally.
Dogecoin on Ethereumon
The “20” in the token’s name refers to the ERC-20 token standard, which allows smart contracts to be encoded on Ethereum, and which has opened up the vast network of decentralized finance (DeFi) applications and cases. usage we see on the network today. .
Most notable ERC-20 tokens include canine rivals like SHIB and FLOKI, utility tokens for DEX like Uniswap (UNI), or layer 2 solutions like Polygon (MATIC) and Chainlink (LINK). All of these projects take advantage of the versatility of what is called the Ethereum Virtual Machine.
Because it runs on Ethereum, Dogecoin20 is significantly cheaper, faster, and greener to use than Dogecoin. This is because Ethereum uses an energy-efficient proof-of-stake (PoS) consensus mechanism, whereby miners with the highest stakes validate the most transactions and receive the most mining rewards.
The original Dogecoin uses the old technology that also powers Bitcoin: proof of work (PoW), in which miners with the most power/hardware validate the most transactions.
Photo: Extra
Ethereum in August 2023 another million transactions per day irritated. For comparison, Bitcoin processed 550,000 transactions during the entire month.
Half of DOGE20 stock is closed
Dogecoin20 takes full advantage of Ethereum DeFi’s greener capabilities by offering a bonding mechanism that which currently yields 41% APY just to lock DOGE20 in the staking pool. Let’s be realistic, this is a significant advantage for those looking for “passive income”.
Nearly 70 billion is already the number of tokens promised, and it continues to grow. This shows that the Dogecoin20 community is committed to building a strong foundation for the token. A high percentage of tokens pledged generally indicates that most hodlers are planning for the long term.
The supply is limited to a total of 140 billion tokens to maintain the scarcity of DOGE20 and make it more valuable. As of this writing, it is very low, at less than $30 million. market capitalization has (compared to Dogecoin’s $21 billion) and has locked up over $1 million in liquidity on Uniswap to ensure smooth, high-volume trading.
FOMO? Doge Day is on Saturday, so this may be your last chance to purchase this coin at a low price. Trade Dogecoin20 on Uniswap and visit the project website if you haven’t already to learn more.
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**Attention! Our article above is guest content and does not constitute investment advice. The editors of BitcoinBázis take no responsibility for what has been described and urge all readers to exercise caution regarding investments in cryptocurrency, CFD, token, cryptocasino, metaverse, DeFi, play-to-play earn and ICO/STO/SAFT. Individual research and thorough verification of claims is strongly recommended. Trade and play responsibly.**
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