The Next Shiba Inu and Dogecoin? New Crypto ICO Dogecoin20 Could Make Meme Coin Millionaires
New Ethereum-based meme token Dogecoin20 (DOGE20) has passed the $240,000 mark in its presale, with the coin’s innovative take on Dogecoin-related memes quickly winning over investors.
Launched less than 24 hours ago, the sale is already moving through the gears, helped by renewed interest in meme tokens and an increasingly bullish market.
The coin is aiming to shake up the meme coin space by offering a more philanthropic version of on-chain staking, one which rewards earlier stakers.
And by introducing a fixed supply (in contrast to Dogecoin, for example), DOGE20 looks to have set itself up nicely for a long lifecycle of sustained price gains.
As popular as meme tokens such as DOGE are, they carry a number of flaws that Dogecoin20 hopes to address.
In Dogecoin’s particular case, it remains a proof-of-work blockchain, something which may provide a certain amount of network stability, but which also requires an excessive use of electricity.
In fact, according to the Digiconomist website, the Dogecoin network currently consumes around 2.32 TWh of electricity per year, which is roughly equivalent to the consumption of Gabon (population 2.3 million).
This arguably makes Dogecoin an inefficient way of transferring value online, yet this is exactly where DOGE20 comes in.
The token runs on Ethereum, which famously transitioned to a proof-of-stake mechanism in September 2022, reducing its energy consumption by 99%.
As such, Dogecoin20 stands as a more environmentally friendly version of the ever-popular Dogecoin.
But it also boasts at least one more major improvement over DOGE and numerous other meme coins, which is that it features a dynamic and innovative staking system.
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