Memecoin Mania Incoming? PlayDoge Presale Raises $1M+ In First Crypto ICO Round
PlayDoge (PLAY)’s new crypto ICO shows memecoin mania is still in full swing in June 2024.
The first two presale rounds at playdoge.io token have already hit their target, with approximately $1.5 million now raised so far from early investors.
Now on presale round three, the new memecoin has made major news headlines and crypto influencers have started to discuss the Doge-inspired project and its potential for altcoin season.
Dogecoin, But Gamified and With a Smaller Marketcap
The gold standard for any memecoin investor is often the Dogecoin meme, and fortunately, the PlayDoge project seems to have adapted the same theme but with a story-like twist and nostalgic 90s themes.
The concept involves a world where the beloved Doge mascot vanishes completely and is only seen later in the PlayDoge app. Essentially, the developers create a storyline where the PlayDoge app and game ecosystem remains the only place to connect with everyone’s favorite new 2D Doge, which they call PlayDoge.
PlayDoge lives in a virtual world, and investors or players are expected to take care of it as they would their own pets by nurturing it. However, players also stand to gain from this, as they can play games using their PlayDoge and potentially win rewards. In short, the platform features a P2E ecosystem with a crowd-favorite 2D Tamagotchi-styled world.
The project is launching with significant utility, which helps it grow potentially as a high-value token already. But even from an investment perspective alone, PLAY, the native token of the project, manages to be in the perfect buying zone for many. The developers have already positioned the project as a venture that could be massive going forward.
You can now relive the #Tamagotchi experience in the Cryptoverse.
What a time to be alive! 🤩
✅ #P2E mini-games
✅ Low gas fees on #BNB
✅ Lots of $PLAY rewards#MemeCoin #PlayDoge #CryptoGaming pic.twitter.com/HXIIQeA31q
PLAY is still in one of its earliest presale phases – stage three – priced at just $0.00503 per token. While it may be unrealistic to imagine any new meme crypto ICO reaching the market cap of Dogecoin, it is fair to compare its value to tokens with a game ecosystem. A good example is Axie Infinity, which also features a simple but interesting style of gaming. It is a complete ecosystem, just like PlayDoge.
At the time of writing, the price of AXS, the native token of Axie Infinity, is valued at $7 with a market cap of over $1 billion. On the other hand, the fully diluted market cap of the PLAY token following the ICO is set to be $50 million, which means that by even reaching half the level of growth that Axie Infinity achieved, the project may pump considerably, allowing investors to make a high ROI on their investment.
Popular YouTube channels like 99Bitcoins have already dubbed PLAY a potential 100x token. The community of the project has also been highly active on its social media channels on Twitter and Telegram, with many speculating a pump right after its launch in the next couple of weeks.
PlayDoge Audit, Potential Exchange Listings and Staking Attracts Memecoin Investors
PlayDoge has already made a mark with its innovative concept and game usecase, unlike the majority of recently introduced memecoins that offer little to no real-life value. However, beyond its utility as a P2E ecosystem, investors are bullish on the new crypto ICO token due to its upcoming developments.
The contract code has been audited by SolidProof, making the BEP-20 token a safe bet for anyone interested in purchasing. A growing community has led to the project being featured on multiple major crypto news outlets, which usually catches the attention of exchanges.
So far those include the likes of Watcher Guru and Bitcoin.com, two of the largest crypto websites, and comparison sites such as bestcryptotobuynow.io.
This increased exposure may induce a string of potential exchange listings, further propelling the growth of the PLAY token.
Investors also highlighted on the Telegram channel how they were interested in parking funds as early as possible to leverage the benefit of staking rewards.
While this offer is available only for presale buyers using Binance Coin (BNB) to buy PlayDoge, it is quite attractive, as the current APY rate is around 200%.
The project has individually managed to gain value and standing as a leading memecoin to consider investing in.
The early level of interest, raising $1.5 million in one week, may indicate a wave of memecoin mania once again for the newest crypto presale on the block. It may be wise to stock up on projects like PlayDoge as soon as possible to benefit from that, alongside the incremental token price rise during the presale stages.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
