As the Dogecoin (DOGE) price collapses, whales are fleeing to a new unlisted Dogecoin alternative with big potential called PlayDoge.
The Dogecoin price fell over 5% on Thursday.
Crypto markets are under pressure despite rising Fed rate cut bets in wake of Wednesday’s Fed meeting and recent soft US economic data, perhaps due to the falling probability of ex-US President Donald Trump winning the White House in November per betting markets.
Geopolitical concerns and the BTC supply overhang of the US government and Mt Gox creditors could also be weighing.
The net result is that Dogecoin (DOGE) remains stuck within a medium-term downward trend channel.
Last near $0.1150, a near-term 20% drop to July lows near $0.09 is likely.
It’s no surprise then that Dogecoin whales are fleeing and looking for alternatives that might deliver better gains.
One new unlisted Dogecoin alternative that analysts at Cryptonews.com think has a lot of potential is PlayDoge (PLAY).
Stack $PLAY and live life on easy mode
Join the #Presale
https://t.co/JT0VEofqf2 pic.twitter.com/QVL6JOvjvd
— PlayDoge (@PlayDogeGame) July 29, 2024
PlayDoge is a new Shiba Inu meme coin-themed spin on the classic Tamagotchi 90s game.
PlayDoge is currently available in presale, and investors have already poured in close to $6.0 million.
And dozens of crypto influencers are coming out in support of PLAY.
ClayBro thinks that unlisted Dogecoin alternative PLAY could be the next major meme coin.
Fellow popular YouTube analyst Matthew Perry also secured a $500 bag.
Cryptonews.com’s in-house team of analysts, meanwhile, have ranked it as one of their top meme coins, and best overall presales to invest in.
Why Unlisted Dogecoin Alternative PlayDoge (PLAY) Could Be the Next Big Thing
The play-to-earn crypto gaming sector is expected to experience massive growth in the years ahead.
So are meme coins, so a crypto that blends the two sectors like new Dogecoin competitor PlayDoge has a great shot of becoming the next big thing.
So how does the game work?
Well, PlayDoge players will feed, train and play a variety of arcade-style games with their own Doges.
These digital dog companions will live on the blockchain as NFTs.
As they navigate through a whirlwind of retro 2D games, players will earn PLAY as they go.
Indeed, PLAY is the utility-infused crypto at the heart of the PlayDoge ecosystem.
At the current presale price of $0.00525, PLAY is valued at a modest $50 million.
But this unlisted Dogecoin alternative, if it can significant traction and usership, could become a billion-dollar crypto.
That could mean potential gains of north of 10x for this crypto.
Potential investors need to move quickly if they want to get into PLAY at bargain prices.
That’s because when the presale hits $6.5 million, the price will jump.
PLAY – Also Passive Income Gem?
Unlisted Dogecoin alternative PLAY is gaining a lot of traction in meme coin and GameFi circles.
But the meme coin is also attracting substantial demand from DeFi aficionados thanks to whopping staking yields on offer.
Presale investors who stake their tokens are currently benefitting from a yield of 80% APY.
12% of the total 9.4 billion token supply has been allocated to staking rewards.
This should help reduce sell pressure when PLAY launches on DEXs.
Crypto users can buy PLAY with BNB, ETH or USDT.
The post Dogecoin Whales Flee to New Unlisted Dogecoin Alternative appeared first on Cryptonews.
#IndustryTalk #DOGE #Dogecoin #Memecoin [Source: CryptoNews]