Dogecoin (DOGE) is back making waves, with the coin’s price nearing the pivotal $0.20 level again.
This week’s resurgence has rekindled the speculative buzz around Dogecoin and other meme coins across the crypto market.
As DOGE rallies, one upcoming project taking inspiration – Dogecoin20 (DOGE20) – has made its own headlines by raising over $10 million in its presale phase.
$0.20 In Sight for DOGE as Buying Momentum Builds
Dogecoin has rallied this week, trading around $0.199 after surging 11% from yesterday’s lows.
The push higher hasn’t been without volatility, though – DOGE was up as much as 15% overnight before a wave of profit-taking caused a pullback.
At one point, the buying frenzy pushed DOGE up to $0.206.
This represented a retest of the pivotal resistance level that halted Dogecoin’s advance on March 5.
While DOGE was unable to sustain those heights initially, the recent momentum could position it for another crack at that strong resistance zone in the near future.
Despite the mild overnight retracement, DOGE has closed four out of the last five daily sessions in the green.
This string of consecutive up days suggests the overall trajectory for the OG meme coin is flipping bullish once more.
Some analysts, like JD on Twitter, believe that once $0.205 breaks cleanly, it will be “moontime” for Dogecoin.
Coinbase’s Base Network Reignites Meme Coin Frenzy
The recent buzz around meme coins extends far beyond just DOGE.
The growing Base blockchain developed by Coinbase has emerged as a hotbed for newly launched meme coins and tokens catering to speculative investors.
Data shows that Base has seen an explosion of activity in recent weeks.
Transaction volumes have tripled, unique wallet addresses have doubled, and over $1 billion in total value is now locked in Base’s ecosystem.
This growth has primarily been fueled by the rapid trading of new meme coins like Toshi (TOSHI) and Brett (BRETT).
The direct accessibility of Base from Coinbase’s main exchange appears to be a key driving factor.
As a relatively new blockchain close to Coinbase’s enormous user base, Base may be the first port of call for newly onboarded retail traders looking to explore the meme coin space.
The hype around Base and its prospects seems to be spilling over to other non-Base meme coins – including Dogecoin.
If this trend of meme coin mania on Base continues, DOGE could benefit from renewed interest from speculative traders.
Last Chance for Discounted DOGE20 as Presale Raises $10M Ahead of Uniswap Debut
While Dogecoin attempts to reclaim $0.20, another project in the meme coin sector has reached a key milestone of its own.
Dogecoin20’s hyped-up presale officially hit its $10 million hard cap earlier this week, selling out the entire allocation of DOGE20 tokens ahead of the planned Uniswap listing.
For meme coin enthusiasts still looking to get in, there’s one final opportunity.
Dogecoin20’s team has opened a limited “post-presale” phase offering DOGE20 tokens at the discounted price of $0.00022.
This phase concludes on April 20 – known as “Doge Day” in crypto circles.
On this day, DOGE20 investors can claim their tokens, and the first exchange listing will take place.
When the token is listed on Uniswap, many early backers believe it’s well-positioned for price appreciation.
This is because Dogecoin20 combines Dogecoin’s beloved mascot with innovative tokenomics aimed to create long-term holder interest.
Its fixed supply of 140 billion tokens, with 10% allocated to seed Uniswap liquidity, could enable the type of price dynamics that lead to sustained upside.
At the same time, DOGE20’s staking rewards program, which distributes yields over two years, provides further incentives for holders.
Moreover, with 25% of the token supply earmarked for aggressive marketing initiatives, the developers clearly understand that meme coin success is as much about social media impact as fundamentals.
The hype around Dogecoin20 has even attracted notable backers like Austin Hilton and ClayBro, who have produced YouTube videos praising the project.
All in all, if the presale sell-out is any indication, DOGE20 may be gearing up for an explosive market debut.