Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
PlayDoge’s presales exceeded $3.5 million in two weeks, combining the viral appeal of memecoins with the fascinating world of Play-to-Earn (P2E) gaming.
PlayDoge (PLAY) pre-sale began successfully for two weeks, with total fundraising exceeding $3.5 million.
PlayDoge’s crossbreeding story, which combines the virality of meme coins and the powerful appeal of P2E (Play-to-Earn) games, is generating buzz.
The presale initially started on the BNB smart chain, but recently transitioned to multichain and connected to Ethereum.
Market participants can purchase PLAY tokens for $0.00506 in the pre-sale, but this price will rise throughout the campaign period. The next increase will occur one day later, or when the total increase reaches $4.2 million.
So prospective buyers have no time to waste.
Incorporating the Tamagotchi zeitgeist into cryptocurrency P2E games
PlayDoge, which has enjoyed remarkable early success, is far from your average meme coin. The central premise is a Tamagotchi-inspired pet companion game with a heavy focus on player rewards.
For those of you who don’t know, Tamagotchi was first released in the 1990s and is now an icon of retro gaming. More than 82 million units were sold, presenting a huge market for new incentivized P2E twists.
In the PlayDoge reboot, users will take care of their pet dogs, feeding them, resting them, and keeping them entertained.
Interacting with pets generates XP points, which help you climb the platform leaderboards. Players can also earn XP by participating in mini-games.
By climbing the leaderboard, players can earn more PLAY tokens, which can be cashed out for other cryptocurrencies, used for in-game purchases, or staked. Stakers can currently earn 300% APY.
However, one thing to note is that users must have PLAY to receive rewards. This means that PLAY tokens have utility built into them, so demand will grow along with the popularity of the platform.
This demand may lead to higher prices, but it’s not the only factor driving investors toward PlayDoge pre-sales.
The Memecoin meta is growing, but P2E memes like PLAY are gaining the upper hand.
With the 8-bit Doge as its mascot, PlayDoge fits well into the animal-centric memecoin meta that has hit the market this year. Even though Bitcoin and Ethereum have made history with the launch of cash exchange-traded funds (ETFs), all eyes are on meme coins.
Bloomberg first publicized this idea back in April, suggesting meme coins like Dogwifhat were stealing Bitcoin’s thunder. And that narrative has only gained steam since then.
Pepe has risen to a market capitalization of $4.9 billion and is the 9th most traded cryptocurrency. Meanwhile, Brett is up more than 300% this month after recently achieving a market capitalization of $1.5 billion.
However, the meme coin craze is not without its critics. There is a constant push-pull between meme coins and utility tokens, with more conservative investors choosing projects with inherent value.
This is why Floki, a meme coin currently developing a P2E game called Valhalla, has enjoyed notable growth recently. It is up more than 45% this month, outperforming the other top five meme coins and the broader cryptocurrency market.
However, the risks for PlayDoge are much higher and the project has much more upside potential.
While attracting the attention of degen meme coin traders, P2E meme coins like FLOKI and PLAY also attract conservative market participants. This added exposure helps mitigate the typical volatility risks associated with memecoin.
A prominent analyst thinks PlayDoge could be bigger than Floki.
PlayDoge could become the biggest competitor to Floki’s $2.3 billion empire, according to a prominent analyst. In a recent YouTube video, Jacob Bury speculated that PlayDoge “could be bigger than Axie Infinity or Floki.”
Analysts have also suggested that PlayDoge pre-sales could deliver returns of up to 100x.
It’s yet to be seen how far PLAY can go, but it’s not the first time a memecoin presale has delivered such large profits.
For example, LookOnChain reported that one Book of Meme pre-sale investor turned $19,000 into more than $6.5 million with a return of more than 340x.
However, PlayDoge is attracting the attention of many people.
Memecoin degeners, investors who appreciate its utility, P2E gamers and those reminiscent of the original Tamagotchi games are all interested, meaning PLAY could become a major force in the market.
Interested users can follow the project on X or join Telegram to stay updated. Alternatively, visit their website to purchase and stake tokens.
Visit PlayDoge Presale to learn more.
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users must conduct their own investigation before taking any action related to the Company.