Multichain Memecoin ‘Dogeverse’ Raises Over $15M in ICO Ahead of IPO: Details

Dogeverse, the newest entrant to the memecoin market, managed to raise $15 million in its initial coin offering (ICO). According to a report by AMB Crypto, the new multi-chain memecoin hit the milestone on Monday. The $DOGEVERSE token has taken the crypto market by storm and is expected to be launched on six different blockchains. Dogeverse claims to be the first Doge Meme token built on a multichain network.

According to Dogeverse website, one Dogeverse token is priced at $0.00031 in its ICO stage. However, Memecoin is in the final phase of its presale and will soon be listed on decentralized crypto exchanges to meet investor demand, AMB Crypto said in a report.

The crypto sector has over 2.4 million tokens in circulation, with more entering the ecosystem every day. The memecoin category, which includes cryptocurrencies inspired by trending memes, has been popularized primarily by Dogecoin and Shiba Inu, and has swelled to a $51 billion (roughly Rs. 4,25,799 crore) category, as reported by CoinGecko this month. Although there are several popular memecoins already circulating in the market, Dogeverse comes to compete with a special functionality.

As mentioned, Dogeverse is a multi-chain memecoin and lives on multiple blockchains instead of being supported by just one like traditional cryptocurrencies. Dogeverse will exist on six blockchains — Ethereum, Binance Smart Chain, Polygon, Solana, Base and Avalanche. According to its official website, the $DOGEVERSE token is minted on Ethereum, but can be claimed, stored and traded on the six supported blockchains using Wormhole and Portal Bridge technology.

Dogeverse’s ICO is one of the most successful of 2024 so far. Additionally, over 16,000 followers have joined the crypto X page since the account was created just a month ago in April. With the interest that the new memecoin has managed to generate in a short time, the crypto community is now speculating whether Dogeverse can rival Dogecoin.

The ICO window for memecoin will close in the coming days and the coin may soon find its way to crypto exchanges.

To participate in the Dogeverse presale, interested crypto buyers can link their crypto wallets to the presale widget listed on the token’s website and use ETH, BNB, MATIC, AVAX, SOL, or USDT to reserve $ DOGEVERSE tokens, according to the official website. “After you complete your presale purchase, you will be able to use the same wallet to claim your tokens before the first DEX registration. Claim and entry dates will be announced on our social media accounts,” the website said.