Interest in Dogecoin (DOGE) fades, DigiToads (TOADS) nears $5 million in the presale
The DigiToads freight train continues to roll at full speed, surpassing expectations. This unique project is likely the first memecoin to attain consistent global relevance. DigiToads is building on what incumbents like Dogecoin started.
Memecoins have needed some dynamism for a while. The idea of having a parody coin with no roadmap can only be replicated a few times before it runs its course. Memecoins that took the Dogecoin model have never quite replicated its success. DigiToads is looking to do things a little differently and possibly elevate the memecoin concept to forever.
The DigiToads presale continues to impress
Cryptocurrency presales can be a referendum on the potential of the crypto project. That referendum can be more emphatic if the project launches in a difficult market. DigiToads has managed to raise about $4.85 million despite launching in a bear market amid regulatory enforcement against crypto major crypto exchanges.
This performance speaks volumes about what investors see in this project. The creative team behind it has also appealingly structured the presale. This process takes place in ten stages, with gradual price increases at each stage. At the current stage, tokens retail for $0.042 and will go up to $0.047 in the next step. The gradual increases mean that by the time the presale is complete, virtually all participants will have made some return on their investment. The presale has been successful, with north of 90% of tokens sold as DigiToads heads towards its launch.
Why is DigiToads stealing the spotlight? Well, it has a lot to do with the unique nature of this project. DigiToads has both the fun and meme-able aspects of its predecessors and the utility of enterprise blockchains like Ethereum. The project’s theme is digital toad avatars that reflect the utility concept of the game.
DigiToads introduces a play-to-earn (P2E) game in a digital wetland metaverse. This ecosystem incentivizes players to nurture digital toads to become stronger and fight for their habitat. Additionally, the game has NFT collectibles that players can collect and create more value.
The project intends to create a vibrant community with something to rally around beyond occasional hype rallies. Dogecoin, for all its success, has shown that this is not a sustainable strategy.
Dogecoin interest cooled
The success of Dogecoin (DOGE) was one of the most baffling developments for traditional finance experts. That coin started no more than a parody of Bitcoin and gained viral success with time. The project rose over 18,000% between 2018 and its all-time high of $0.65 in 2021. Since then, there has been a considerable decline, with the coin shedding almost 80% from its peak market capitalization. Even during the peak bull market, Dogecoin showcased significant price upheaval and continues to do so.
Dogecoin holders look back to these rallies with nostalgia. However, there is no assurance that another will come because the project does not have an intrinsic value creation model. Therefore, some Dogecoin whales are looking to DigiToads to grow with a different project.
Conclusion
DigiToads is looking to build on the impact of Dogecoin. Interest in the latter coin has cooled off considerably. By adding utility, the goal is to have a project that is not at the mercy of cyclic interest like Elon Musk’s promotional tweets. Instead, the goal is to have a consistent community of gaming enthusiasts creating value on the platform and utilizing TOADs tokens. This way, DigiToads can achieve sustainability and distinction in this space. Unsurprisingly, the presale is doing great, with more to come after the launch.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Kanchanara on Unsplash
Filed under: Bitcoin - @ June 20, 2023 10:00 pm