Cardano out of crypto top 10 due to meme coins?


In recent weeks, the crypto market has witnessed a rapid rise in the number of cryptocurrencies, inspired by internet memes. Despite a slight correction in prices in recent hours, the meme coin they are certainly among the most profitable cryptocurrencies of the moment.

In this situation, other tokens like Cardan instead, they face a moment of difficulty, resulting in a significant decline in ADA’s market value.

Therefore, users continue to focus on meme coins, highlighting the potential of this sector and especially of some innovative projects. One of them is Doggersa pre-sale crypto that is getting closer to its official launch.

The collapse of Cardano and the rise of meme coins

The recent positive wave for meme coins has had a significant impact on the cryptocurrency market Cardan (ADA) which was significantly affected.

So was Cardano, which was among the top ten cryptocurrencies by market capitalization surpassed by Shiba Inu (SHIB)now in 11th place with a capitalization of $15.987 million, while Dogecoin (DOGE) maintains eighth place with $23.849 million.

This trend is not new as Dogecoin is an established presence in the market, but the emergence of new meme coins such as Shiba Inu, Pepe (PEPE), Dogwifhat (WIF) and Bonk (BONK) has revived the segment and both experienced as attracted investors some beginners. These assets showed impressive returns in short periods: For example, Pepe rose 4% last week despite the price correction, and Dogwifhat rose 20%.

Other way around, Cardano has seen a significant drop in value. Currently trading at $0.44, it has lost more than 80% from its all-time high of over $3.10 during the 2020-21 bull cycle.

Unlike Bitcoin and other altcoins that have recovered most of their losses and some set new all-time highs, Cardano seems is stuck in a tight price range next to Ripple (XRP).

Over there rapid rise of new meme coins was driven by assets that are just over a year old, such as Pepe, Dogwifhat and Book of Meme (BOME), which posted double-digit gains in a short time.

This growth is fueled by the enthusiasm of online communities, the support of influential figures and the widespread speculation in the cryptocurrency market. Also Dogecointhe original meme coin, and Shiba Inu, the favorite of the last bull run, have seen significant rallies this cycle, maintaining their relevance among investors.

While Bitcoin and many altcoins exhibit sideways price movements, meme coins have currently not only survived but thrived. Six of the ten biggest winners over the past 24 hours are meme coins, and weekly charts show a similar picture, indicating a shift in investor interest towards these volatile, risky assets.

Dogeverse (DOGEVERSE)

We turn our attention to the meme coins that will be launched in the coming days: Doggers has one of the most successful pre-sales of 2024, raising over $15 million and is on track to utilize its 200 billion token allocation ahead of schedule.

The virality of the project, combined with its resilience during recent market downturns, has captured the attention of countless investors and analysts who have focused on pre-sales for the meme-inspired crypto market even at negative moments.

The Doggers community launching on six major blockchains: Ethereum, BNB Chain, Polygon, Solana, Avalanche and Base.

This feature provides unprecedented flexibility to investors, who can purchase and benefit from the DOGEVERSE token across various networks smooth transactions and low costs.

The official launch of DOGEVERSE on the major decentralized exchanges is just around the corner (June 3), and investors are incentivized to buy now to avoid paying higher prices in the future.

The project has built a reputation for reliability thanks to a positive audit by Coinsult and offers a staking protocol with an annual return of 48%, making it an attractive long-term investment. Unlike many meme coins, Dogeverse is not based solely on hype, but has a concrete use case that makes it sustainable.

The meme coin market is saturated with projects that want to do just that imitate successes like Dogecoin and Shiba Inubut many fail due to lack of a solid foundation.

Instead, Dogeverse aims to build a robust and interconnected ecosystem, offers real benefit for fans of “Doge” themed tokens. Support from celebrities like Elon Musk, Mark Cuban, Gene Simmons and Snoop Dogg adds further visibility and buzz to the project.

As for the story of the project, Cosmosthe Dogeverse mascot, symbolizes the exploration of the crypto world through various blockchains, allowing investors to fully exploit the opportunities offered by each network.

The possibility to can move easily between blockchains and the availability of the token on six different networks increases the attractiveness of the project. Staking rewards up to 71% APY on Ethereum further encourages participation and helps maintain the token’s price stability.

Now that the official launch is just around the corner, Dogeverse is preparing to… one of the most promising meme coins of 2024thanks to its multi-chain nature, strong community support and investor enthusiasm.

For more information about this project, also read “The Dogeverse presale is almost coming to an end”.

<>>

PAID ADVERTISING
Editorial il Cittadino Srl and the head The citizen accepts no responsibility for the text contained in this editorial (which is created by the client) and is not intended to encourage any form of investment.



Source link

Leave a Comment