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PlayDoge’s presale ($PLAY) raised $3 million during its opening two weeks, reflecting the electric excitement around the utility-based use case.
Launched on the Binance Smart Chain, PlayDoge is a Play-to-Earn (P2E) meme coin topped with a dog mascot.
PlayDoge enters the coin-op arena as Floki’s biggest competitor
With the P2E tool as a central talking point in the PlayDoge story, the project is easily distinguishable from most of its peers.
But one competitor that comes to my mind is Floki.
Like PlayDoge, Floki is a P2E meme currency on the BSC network.
Floki has enjoyed massive price growth recently, rising 68% this month and 964% this year. This decisively outperforms the best coins on the market, Dogecoin and Shiba Inu, which are up 117% and 201% this year.
But Floki’s market capitalization is several billion dollars, so demand is emerging for an alternative with a lower market capitalization that could generate significant gains.
This is where PlayDoge comes in – a newer, more active project with a much lower rating.
Inspired by the hit 1990s Tamagotchi toy that sold 82 million units, PlayDoge is a pet companion toy where users take care of their pet dog, ensuring it is fed, comfortable and entertained.
Users will earn XP for interacting with their pets and completing mini-games, helping them move up the project leaderboard and providing more $PLAY rewards.
But here’s the point – users must hold $PLAY to get token rewards.
While anyone can enjoy the game for free, the $PLAY token is the cost of entry into the P2E layer, allowing demand for the token to grow alongside the popularity of the platform.
Once users earn $PLAY rewards, they can cash them out for other cryptocurrencies, make in-game purchases, or participate in the game.
Staking is already live and is currently offering approximately 2000% APY.
According to its website, PlayDoge will be released on the App Store and Google Play Store.
PlayDoge’s $3 million raise generated a lot of buzz; The analyst believes $PLAY could reach 10x
With $3 million raised, the market has certainly taken note of PlayDoge’s compelling use case.
But it is not only investors who are interested in the project.
Popular market commentator Jacob Burry recently covered the pre-roll, speculating that it holds 10x potential.
Puri emphasized that the inherent utility of the project represents a significant advantage compared to other meme currencies that rely on speculative-driven demand for price growth.
Meanwhile, YouTube channel Crypto News and Matthew Perry also backed the pre-sale as having high potential.
Adding to the project’s bullish precedent, leading cryptocurrency media outlets, including Bitcoin.com, CryptoPotato, and The Tech Report, have featured the project.
With so much media and analyst coverage, there’s a good chance PlayDoge’s notoriety will continue to grow, paving the way for an explosive initial exchange offering (IEO).
It’s no secret that memes have delivered some of the most outrageous crypto returns this year. And while new and exciting memes are emerging daily, the importance of gaming is also on the rise.
In fact, we’ve seen Floki outperform the meme coin market, and its P2E approach will likely add to its performance.
Not to mention Precedence Research forecasts that the gaming market will grow to more than $116 billion by 2032.
So, by combining the puzzle of high-octane coins with the utility of P2E gaming, PlayDoge is a force to be reckoned with.
What’s more, by embracing the zeitgeist of the original Tamagotchi game, PlayDoge’s blockchain-based incentive reboot will appeal to a wide range of market participants.
Those who remember the archetype, users interested in P2E games, coin traders, and investors looking for utility will all be attracted to this project.
According to its website, 50% of the tokens are allocated for pre-sale. Another 6.5% is allocated to community rewards, 11.5% to exchange liquidity, 10.5% to marketing, 10.5% to project funds, and 12% to staking.
The current price of $PLAY is $0.00504, but this will rise throughout the pre-sale, with the next rise in 22 hours.
So don’t miss it. Follow PlayDoge on X or join our Telegram to get the latest developments. Alternatively, visit their website to purchase tokens and stakes.
Visit PlayDoge Presale