Trending Multichain Meme Coin Dogeverse Raises $10m in 16 Days as Sellout Beckons
Trending multichain meme coin Dogeverse ($DOGEVERSE) has jumped past its $10 million fundraising target in just 16 days.
(Image caption: Dogeverse meme coin will operate across six different blockchains and has raised $10 million in its ongoing presale)
Early stage seed and Series A funding rounds in the venture capital sector typically take months to raise such amounts, making the Dogeverse run rate achievement all the more newsworthy.
The latest in crypto’s long line of Shiba Inu-inspired funny tokens has pricked the ears of meme fans, degens and crypto evangelists alike, who see its cross-chain capabilities as a hint of what tomorrow’s meme coins will look like.
Currently priced at $0.000301 in presale, $DOGEVERSE has sold out its soft cap allocation of 200 billion tokens after trending virally on launch.
Meme coins like Dogeverse are ‘serious business’
A project spokesperson said: “We are super excited to have raised more than $10 million in such a short space of time, beyond all our expectations.
“Dogeverse is not just another copycat meme coin. Far from it. We think we are showing how one of the biggest problems in crypto can be solved by demonstrating the way interoperability can work on the busiest of crypto networks.
“For sure, meme coins are about fun and viral adoption but, as seen in the recent meme coin-led growth of the Solana network, for example, meme coins are also serious business.”
A meaty $1 million flooded the project barely 48 hours into its ICO, selling out of tokens allocated for the first two presale rounds and far exceeding the team’s initial expectation of a 6-day first round.
Fast forward one fortnight and Dogeverse has already moved onto the second half of its ICO a day ahead of schedule. A further 200 billion tokens will be sold to the public across five remaining rounds that close on June 11.
The funds from these additional tokens, which would otherwise be sold on decentralized (DEX) or centralized (CEX) exchanges after the claim, will now be used for liquidity and buy-back funds.
Token holders can stake on Ethereum to earn passive rewards.
The team is currently working towards CoinGecko and CoinMarketCap listing applications, while later DEX and CEX listings form part of the project roadmap.
But why exactly is everybody lapping up Dogeverse?
https://twitter.com/The_DogeVerse/status/1780280083409731833
🌌 Embarking on a journey through the #DOGEVERSE, the pioneering multi-chain #Doge #Token, inspired by #Cosmo's epic adventures. 🚀
— DogeVerse (@The_DogeVerse) April 16, 2024
Leading in #Blockchain connectivity, uniting diverse #Crypto communities with Doge memes and a vision of a unified ecosystem across chains! 🌍 pic.twitter.com/Woe1wYvxqh
Why multichain meme coins could be the next big thing
Dogeverse is built on a multichain network spanning six chains. None of which deploy the computationally expensive and emerging hogging proof-of-work, as used by Bitcoin and Dogecoin.
By contrast then, the blockchains that Dogeverse is interoperable with work on environmentally friendly proof-of-stake consensus mechanisms.
Dogeverse is already live on Ethereum, BNB Smart Chain, Polygon, Base and Avalanche. A Solana rollout is coming soon.
At the center of the Dogeverse is our four-legged friend Cosmo. Born from a supernova, Cosmo discovered he had a unique ability: the power to hyper-jump across universes.
Now, Cosmo wants to share the chain-leaping fun with his owners.
How Dogeverse multichain innovation casts the audience net more widely
Meme coins exhibit some of crypto’s most volatile valuations. This is because they have a tendency to exaggerate broader market-wide price movements.
Digital assets are criticised by some as having no intrinsic worth and being purely speculative in nature. Although that can be rebutted when it comes to projects that are building products and services that have demonstrable use cases, the same cannot, at least on the face of it, be said for meme coins.
Meme coins are all about building networks based on the viral attractiveness of the meme coins' online personas. Bottling the lightening of the latest hot trend in crypto consciousness is what drives the popularity of successful meme coins.
There’s no doubt that Dogeverse is a meme coin and an object of speculative interest from crypto watchers, but its multichain feature set means it can stand apart from the crowd.
By going multichain Dogeverse innovative approach means it spreads its net more widely by appealing to audiences active across an array of blockchain networks.
What meme coins do have going for them in terms of intrinsic value is the networks they create cited earlier. Dogeverse could be set to multiply the reach of such networks because of its multichain properties, and therein lies its latent value.
https://twitter.com/The_DogeVerse/status/1782091987904008246
🌟 Introducing #Cosmo, the remarkable #Doge born from stardust! 🌠
— DogeVerse (@The_DogeVerse) April 21, 2024
As the ambassador of #DOGEVERSE, Cosmo symbolizes liberty, ingenuity, and unity.
Embark with him on an adventure across the #Crypto cosmos, breaking barriers and venturing into uncharted territories together. 🚀 pic.twitter.com/wzLatjuLMu
One interoperable meme coin across Layer 1 and Layer 2 digital assets is something new
On May 23 the US Securities and Exchange Commission’s first deadline to respond to the latest round of applications for an Ethereum ETF comes due.
Many analysts see the date as critical for the future progress of Ethereum, crypto’s most commercially important blockchain.
Other so-called Layer 1 blockchains – such as those being targeted by Dogeverse like Solana and Avalanche and BNB Smart Chain – may bask in the afterglow if the SEC approves an Ethereum ETF.
Also, Ethereum Layer 2 Polygon, which is also native to Dogeverse, could be a beneficiary too.
Dogeverse is genuinely doing something different and news of the $10 million inflow of funds into the project perhaps attests to a potentially strong market fit.
Media contact: gary.mcfarlane@clickoutmedia.com
Keep up to date with developments at Dogeverse by joining its vibrant community on X and Telegram.
