Memecoins
Doge Meme Coin Raises $5 Million in Bear Market: Is P2E the Future?
The cryptocurrency market is having one of the worst fixes I’ve seen in a long time.
In the last day alone, the global market capitalization fell by 3.74%. It also has 24-hour volume in the last two days it has decreased by 18.88%., from $62.31 billion to 50.54 billion. Following this trend, the market capitalization of meme coins has also increased in the last day it decreased by 7.28%..
In these bearish times, a Play-to-Earn (P2E) meme coin is seeing significant growth with over $100,000 raised in the last day.
PlayDoge ($PLAY) recently surpassed its $5 million goal and is two days before the next price increase.
This Doge Coin offers utility through its Tamagotchi-style mobile game that lets you earn passive $PLAY by taking care of your virtual pet.
Let’s see why PlayDoge is gaining popularity while the rest of the cryptocurrency market is declining.
The P2E meme coin offers solid utility and incentives for staking
PlayDoge’s main feature is its P2E mobile game. It’s a next 2D game of the 90s reminiscent of retro Tamagotchi games.
You can earn $PLAY tokens taking care of your pet Doge and playing minigames (like Space Invaders).
The more you take care of your pet, the more rewards you will receive. Leaderboard rewards add a competitive edge to the game, as earning XP brings you bonus $PLAY tokens.
THE The PlayDoge app will be free on Google Play Store and Apple Play Store once the presale ends.
The project assigns 611 million tokens for community rewards (including P2E rewards), meaning earning passive income through gaming is a interesting investment solution.
Crypto GameFi’s market capitalization increased by $400 million in the last day
Despite falling into the correction, the The Crypto GameFi segment remains popular among investors, and his market capitalization increased by 2.5% in the last 24 hours. Two GameFi projects that have reached high levels in the last 24 hours are $KOL (+33.3%) and $RBLS (+10.9%).
The GameFi utility is coded into PlayDoge, making the project a more promising investment than other Doge coins.
A wave of nostalgia is spreading across the gaming market, with Tamagotchi games reinvent themselves AND tapping into the community’s affection for all things retrowhich PlayDoge fully cultivates in its P2E game.
An ExpressVPN survey also demonstrates this 79% of gamers play retro gamesfurther strengthen PlayDoge’s position in the cryptocurrency market.
Source: ExpressVPN
Statista estimates that global video game market revenue will reach $666.69 billion by 2029, Increase of 46.43%.. Indeed, the game is one of the most popular entertainment industries worldwide, with Tencent, Sony, Microsoft and Apple over $77 billion in combined revenue in the fourth quarter of 2023.
PlayDoge Pre-Sale: Over $5M Raised and 134% Staking APY
PlayDoge is currently worth $0.00512, with two days left until the next price increase. The pre-sale raised over $5 million in less than a month and investors staked 243 million tokens on $BNB and $ETH.
The earlier you invest, the greater the reward. If so reaches $0.026 by the end of the yearyou are willing to do it realize over 408% of profits (if you buy at the current price).
Buying 126,367 $PLAY for $647 and staking it for a 134% APY would result in 295,698 $PLAY in one year, or $1,513.
The staking APY is dynamic, so the more people wager on $PLAY, the lower the APY will be lower rewards for latecomers.
TO buy $PLAY, visit the official website, connect your wallet to the widget and enter how much you want to spend. Confirm the transaction e wait for the presale to end to collect your $PLAY tokens.
Our verdict: PlayDoge is a promising P2E project
PlayDoge’s resilience during the current crypto fix is a good sign. Investor interest is stronger than everand it is only a matter of time before the project is launched on the exchanges.
given that recent resurgence of Tamagotchi games and the success of GameFi’s crypto projects (like Immutable and Axie Infinity), $PLAY offers a promising long-term investment.
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile and high-risk asset class.
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