DOGE2.0 Token Blasts Up 8,000% After Going Viral But Crypto Whales Are Accumulating Wall Street Memes Before it Lists on Exchanges – Here’s Why
The DOGE2.0 meme token has rallied by a massive 8,000% in the past couple of days, with its move to $0.00000001404 today representing a gain of 13% in the last 24 hours.
DOGE2.0 is one of a number of ‘2.0’ meme tokens which have appeared in the past couple of weeks, each with the aim of representing themselves as newer, more profitable versions of earlier meme coins
Yet DOGE2.0 has been able to separate itself from similar coins by attracting a small number of centralized exchange listings, with Poloniex being the latest to announce its support of the meme token today.
Despite this, DOGE2.0 still looks as though it will lack staying-power as a cryptocurrency, with one new meme token currently in presale – Wall Street Memes (WSM) – showing strong signs of having already attracted a bigger community.
DOGE2.0 Token Blasts Up 8,000% After Going Viral But Crypto Whales Are Accumulating Wall Street Memes Before it Lists on Exchanges – Here’s Why
DOGE2.0 has gone through a series of peaks and troughs over the past couple of days, with the meme token hitting a number of record highs and then falling back away again, as it seems to have done in the past hour or so.
Of course, DOGE2.0 is a very new meme token and is currently enjoying its initial growth spurts, which may not last for very long.
On the bright side, it does appear that some CEXes are beginning to list it, with LBANK Exchange and Poloniex adding their support in the past 24 hours.
This could help sustain DOGE2.0’s current momentum, with both exchanges increasing the token’s liquidity and market.
On the other hand, a couple of listings doesn’t change the fact that DOGE2.0 is a pure meme token with little in the way of utility, with the coin also having only around 2,000 followers on Twitter.
Because it lacks a significant community to support it, it’s unlikely that DOGE2.0 will have the lifespan of the original Dogecoin (DOGE).
There are also newer meme coins which have better longer term prospects than DOGE2.0, with Wall Street Memes (WSM) being among the most notable.
Running on Ethereum as an ERC-20 token, WSM has already raised more than $12.9 million since beginning its presale last month.
It’s been able to do this largely because of its association with the meme stocks movement, which emerged in 2021 and famously instigated the GameStop and AMC rallies of that year.
It has reserved 30% of its two billion supply for community rewards, while it has also racked up more than 256,000 Twitter followers, providing a vivid indication of how strong its online presence already is.
Such a presence will be vital if WSM is to have a longer lifespan than DOGE2.0, since meme tokens tends to live and die by how strong their communities are.
And new investors can join this community by visiting the official Wall Street Memes website and linking their crypto wallets, with 1 WSM currently selling for $0.031.
This price will rise to $0.0337 by the 30th and final stage of the sale, at which point WSM will list on exchanges, potentially making its holders significant profits as it rallies big.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
