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Unprecedented demand, together with the price-pumping allure of Doge Day (which falls the same day as Bitcoin’s highly-anticipated halving on Saturday), has brought Dogecoin20’s presale to an early conclusion after raising over $10 million, according to a new announcement on X.
https://twitter.com/DOGE_COIN20/status/1779864804397633658
That means DOGE20 will be landing on decentralized exchanges (DEXs) two days ahead of schedule, although the team is keeping details as to which DEXs close to its chest. It also means anyone wishing to acquire DOGE20 tokens now has to wait until Thursday’s public launch.
In any case, the project now has a two-day headstart to exploit the upside potential of Bitcoin’s halving and Doge Day in a canny tactical play that could ignite a tinderbox launch for Ethereum’s hottest new good boy.
Dogecoin20 is a huge hit among eagle-eyed meme coin investors for its simple premise: it’s Dogecoin but cleaner, greener, and packing more utility and value thanks to its Ethereum compatibility and staking incentives.
Now, with Saturday, April 20 just around the corner, Dogecoin20’s new launch date on Thursday could catalyze some sweltering gains in the near-term.
This being crypto, nothing is set in stone, but it just so happens that both Bitcoin’s halving and Dogecoin’s Doge Day fall on 4/20, a day that already has a lot of cultural significance for meme fans because of its global stoner associations.
Meme coins will get a novelty look-in that day, particularly canine-related ones. It is also the day of Bitcoin’s halving, and history has already shown us the heady upside potential of Bitcoin halvings. The past three halvings have all led to rallies.
Doge Day And The Bitcoin Halving: A Primer
As a canine-themed meme coin packing lots of utility, Dogecoin20 is uniquely poised to benefit from both the halving and Doge Day.
Bitcoin’s upcoming halving is crypto’s current price-driving narrative. The first thing to bear in mind about halvings is they don’t come often. They come approximately once every four years.
Saturday will be Bitcoin’s fourth since launching in 2009.
Each halving cuts Bitcoin miners’ BTC rewards in half. At present, miners get 6.25BTC for every block of transactions they validate and add to the blockchain. After Saturday, they’ll only earn 3.125 BTC per block.
What does this have to do with Dogecoin20? Well, the halving affects everybody.
Since miners control the issuance of new Bitcoin, the halving will bottleneck the supply. Basic supply and demand dictates that if demand for an asset remains consistent through a supply squeeze, the asset becomes more valuable. This is why halvings have always led to bull runs.
Bitcoin’s rallies this year have been priced by fresh institutional and retail demand for BTC following the launch of 11 US-approved Bitcoin exchange-traded funds (ETFs) back in January.
The ETFs have given anyone with a brokerage account a way to buy and hold Bitcoin and exploit its price movements through a regulated investment vehicle. The pitch has succeeded in winning over some of Wall Street’s more traditional investors. It has also added value to the entire market.
On New Year’s Day, 2024, crypto had a combined market cap of about $1.65 trillion. This figure has since mushroomed to $2.41 trillion largely off the back of ETF hype and steady institutional inflows.
And not only is Dogecoin20 riding the news with the rest of the market, thanks to the novelty factor of Doge Day and 4/20 arriving with the halving, there’s no limit to the potential pump.
Dogecoin20 Is Ethereum’s ERC-20 DOGE Altcoin
So, how does DOGE20 work? To begin with, the “20” is a reference to the ERC-20 token standard, the set of smart contracts on Ethereum underpinning every fungible token of note on the network, from canine rivals like SHIB, PEPE and FLOKI to utility tokens for DEXs like Uniswap, or Layer 2 solutions like Polygon (MATIC) and Chainlink (LINK).
This makes Dogecoin20 substantially cheaper, faster and greener to use than Dogecoin. That’s because Ethereum uses an energy efficient Proof-of-Stake (PoS) consensus mechanism, whereby the miners with the biggest stake validate the most transactions and get the most mining rewards.
By comparison, the original Dogecoin utilizes the older tech that powers Bitcoin: Proof-of-Work (PoW), in which the miners with the most power/hardware validate the most transactions.
Back in August 2023, Ethereum was processing one million transactions per day. By comparison, Bitcoin processed 550,000 transactions for that entire month.
Given Dogecoin20’s technological advantages over more established rivals, alongside the novelty factor and halving/Doge Day hype, Dogecoin20’s decision to launch two days ahead of schedule is a deft sleight of hand that could attract some blistering near-term returns.
Got FOMO? You’ll have to wait until Thursday at 10AM UTC to buy Dogecoin20 on DEXs.
In the meantime, visit the website.
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