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PlayDoge’s presale surpasses $3.5 million in two weeks, combining the viral appeal of memecoins with the engaging world of Play-to-Earn (P2E) gaming.
It’s been a triumphant opening two weeks for the PlayDoge (PLAY) presale, cruising past the $3.5 million total raised mark.
Combining the virality of memecoins with the compelling allure of Play-to-Earn (P2E) gaming, PlayDoge’s crossbreed narrative is causing a buzz.
The presale initially launched on BNB Smart Chain but recently went multichain and bridged to Ethereum.
Market participants can buy the PLAY token at presale for $0.00506, but this price will rise throughout the campaign. The next increase will occur in one day or when the total raise hits $4.2 million.
As such, there is no time to waste for prospective buyers.
Injecting the Tamagotchi zeitgeist to crypto P2E gaming
With spectacular early success, PlayDoge is far from your average meme coin. Its central premise is a Tamagotchi-inspired pet companion game focusing heavily on player rewards.
For those who don’t know, Tamagotchi was initially launched in the 1990s and is now an icon of retro gaming. It sold over 82 million units, presenting a huge addressable market for the new incentivized P2E twist.
On the PlayDoge reboot, users will care for their pet doge, ensuring it is fed, rested, and entertained.
They will generate XP points by interacting with their pets, which helps them climb the platform’s leaderboard. Players can also partake in mini-games to rack up XP.
Advancing up the leaderboard makes players eligible to earn more PLAY tokens, which can be cashed out for other cryptocurrencies, used to make in-game purchases, or staked. Stakers can currently garner a 300% APY.
But here’s the caveat: users must hold PLAY to receive rewards. In other words, utility is baked into the PLAY token, meaning its demand will rise alongside the platform’s popularity.
While this demand could well translate to price growth, it’s not the only thing driving investors to the PlayDoge presale.
Memecoin meta is growing, but P2E memes like PLAY have an upper hand
With an 8-bit doge as its mascot, PlayDoge is well-aligned with the animal-centric memecoin meta, which has taken the market by storm this year. Despite Bitcoin and Ethereum making history with spot exchange-traded funds (ETFs) launches, all eyes have remained on meme coins.
Bloomberg first revealed this idea in April, suggesting meme coins like Dogwifhat are stealing Bitcoin’s thunder. And the narrative has only gained strength since.
Pepe has ascended to a $4.9 billion market cap and is the ninth most-traded cryptocurrency currency. Meanwhile, Brett is up over 300% this month after recently notching a $1.5 billion market cap.
But the meme coin frenzy is not without critics. There is an ongoing push-pull between meme coins and utility tokens, with the more conservative investors opting for projects with innate value.
This is why Floki, a memecoin currently developing a P2E game called Valhalla, has enjoyed notable growth recently. It is up over 45% this month, outpacing other top 5 meme coins and the broader crypto market.
However, the stakes are even higher for PlayDoge, with the project holding much more upside potential.
While drawing the attention of degen meme coin traders, P2E meme coins like FLOKI and PLAY also attract conservative market participants. This added exposure helps alleviate the typical volatility risk associated with memecoins.
Prominent analyst thinks PlayDoge could go bigger than Floki
PlayDoge could be the greatest rival to Floki’s $2.3 billion empire, according to a renowned analyst. In a recent video on YouTube, Jacob Bury speculated that PlayDoge could be “bigger than Axie Infinity or Floki.”
The analyst also suggested the PlayDoge presale could provide up to 100x returns.
While it remains to be seen how far PLAY can go, it would not be the first time a memecoin presale had provided such outsized gains.
For instance, LookOnChain reported that one Book of Meme presale investor made over 340x, flipping $19K into over $6.5 million.
However, PlayDoge appeals to an extended crowd.
Memecoin degens, utility-appreciating investors, P2E gamers, and those reminiscent of the original Tamagotchi game are all interested, meaning PLAY could be a major force in the market.
Interested users can follow the project on X or join its Telegram to keep updated. Alternatively, visit its website to buy and stake tokens.
To learn more, visit PlayDoge Presale.
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