Buzz around the “doge” meme is about to kick into high gear this week.
On April 18, new project Dogecoin20 will launch its DOGE20 token on Uniswap – and traders are already debating whether it could be the best meme coin to buy now.
Utility & Scarcity Baked Into Dogecoin20’s Ecosystem
Dogecoin20 isn’t just another no-utility meme coin.
This ERC-20 token has been designed to breathe new life into the Dogecoin brand while upgrading it for the modern era.
For starters, DOGE20 has a fixed supply of 140 billion tokens. Therefore, it is protected from the endless inflationary supply of the OG Dogecoin.
That scarcity could make it easier for the token to accrue value over time.
But the real magic comes from Dogecoin20’s investor-first use cases, like the built-in staking protocol.
This protocol provides the potential to earn 45% yields annually just for staking DOGE20.
Since few (if any) legitimate meme coins offer passive returns, Dogecoin20 sets itself apart with a unique value proposition.
Lastly, because it is hosted on Ethereum, DOGE20 seamlessly integrates with all the most-used wallets right out of the gate.
It’ll also be compatible with the top DeFi protocols. This means that there’s scope for lending, borrowing, and yield farming in the future.
These elements have combined to create enormous hype ahead of Dogecoin20’s open market debut.
DOGE20 Hype Soars Ahead of April 18 Uniswap Listing
The buzz around this open market debut is about to reach a fever pitch.
Anticipation has been building for weeks. Specifically, ever since the project reached its $10 million funding target much earlier than the team expected.
Now, with just days until DOGE20 hits the Uniswap DEX, the project’s Telegram and Twitter accounts are flooded with investors awaiting their chance to get in on the ground floor.
For those unaware, presale investors can claim their DOGE20 tokens directly through the official website on April 18 at 10 am. UTC.
Uniswap trading is expected to begin shortly after.
Unsurprisingly, the meme coin crowd is already looking forward to this exchange listing. Moreover, it could be the catalyst for a price pump.
YouTuber Conor Kenny released a video on Dogecoin20, discussing how he thinks the token could benefit from the expected wave of retail investor demand.
Fellow crypto influencer ClayBro also tweeted about DOGE20 to his 9,100+ followers.
With this sort of attention from key figures in the space, it seems all but certain that DOGE20’s market debut will be a must-watch event.
Could DOGE20 Be the Best Meme Coin to Buy This Cycle?
While the meme coin market has suffered this week due to geopolitical tensions and profit-taking, investors would be forgiven for thinking Dogecoin20’s launch is ill-timed.
Trading volumes are down, and meme coin prices are red across the board. Indeed, those circumstances are not the ideal climate for another dog-themed project to thrive.
However, Dogecoin20 may actually offer something refreshingly different in this current market choppiness.
Rather than relying on the shilling for its price movements, DOGE20 has strong tokenomics and utility baked in.
For example, 25% of the total supply has been allocated to aggressive marketing campaigns to grow its brand recognition and community.
When that war chest is combined with Dogecoin20’s staking rewards and fixed supply, it has all the ingredients to defy the current bearish sentiment towards meme coins.
Even meme coins with no utility have managed to moon recently – like cat in a dogs world (MEW).
So, while the short-term price action could be volatile, Dogecoin20 may be well positioned for growth. This is especially true for once bullish momentum picks back up.
For degen investors burned by too many hyped-up and useless tokens, DOGE20’s fundamentals could make it a much better play in the current market cycle.