Dogecoin Holders Are Ditching DOGE for This New ICO – Could It Deliver 1,000% Gains?
As the Dogecoin (DOGE) price remains wedged to the south of $0.17 resistance, Dogecoin holders are ditching their DOGE tokens for a new ICO called 5thScape (5SCAPE), which some investors are betting will become a major leader in the crypto AR/VR space.
Dogecoin was last changing hands around $0.1650, up 11% so far this week in tandem with a broader market rally.
Under normal circumstances, now might not be the best time for Dogecoin holders to ditch their DOGE tokens.
The cryptocurrency appears to have formed an ascending triangle pattern in the past few weeks.
Such patterns typically form ahead of bullish breakouts. And if a bullish breakout does come, a quick return to March highs near $0.23 is probable.
Dogecoin could thus be setting up to post quick 40% gains, despite having already rallied 37% from early May lows.
But Dogecoin’s bloated market cap, last nearly $24 billion as per CoinMarketCap, suggests room for further upside is limited.
Long-term advocates of the meme coin hope it can one day hit $1. That would represent gains of north of 6x from current levels.
But that would mean Dogecoin’s market cap reaching over $140 billion. That will be difficult to achieve, even if Bitcoin surges above $100,000.
Traders looking to book bigger, faster gains often turn to smaller, more speculative altcoins.
One potentially highly profitable strategy they often neglect is investing in presale investing.
This is where upcoming web3 projects sell their native tokens at a discount to early investors to fund development.
One project that the team at Cryptonews are big fans of is exciting AR/VR project 5thScape (5SCAPE).
Many expect it to become a market leader, hence its no shock that Dogecoin holders are flocking to the token.
Here’s why the
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