Dogecoin20 Hits Uniswap, Rallies Over 100% In First Hour

cryptonews.com:

A new Ethereum-based Dogecoin alternative, Dogecoin20 (ticker: DOGE20) rallied over 100% less than an hour after landing on leading decentralized exchange (DEX) Uniswap. 

The frantic buying activity was driven largely by anticipation for Saturday, April 20, 2024, a day earmarked by the crypto community because it’s both the day of the Bitcoin halving and International Doge Day. 

The Dogecoin20 claim went live at 10AM UTC. The ICO ran throughout March and took in over $10 million. It was originally scheduled to end on Saturday, April 20, but the team concluded it early due to the scale of the demand, and the strategic allure of Doge Day. 

The Dogecoin community selected April 20 for its associations with 4/20.

The self-styled “Doge Army” consider the day fun and irreverent, like their favorite coin. It’s also a day when investors are most likely to purchase dog-related meme coins to ride the pump. 

However, with so many dog-related meme coins on the market, degens will this year be looking into alternative projects that day. Dogecoin20 offers a cleaner, greener and more useful token than its namesake, the classic Dogecoin (DOGE).

About 45 minutes after landing on Uniswap, DOGE20’s price shot up 101% to hit 0.0003632 USD.

The token has since pulled back as early degens do a spot of profit-taking but is still trading above its launch price as it consolidates for the next leg higher. 

The “20” in the token’s name refers to the ERC-20 token standard. ERC-20 is a set of Ethereum smart contracts that has opened up the extensive network of decentralized finance (DeFi) applications and use cases we see on the network today. 

Other notable ERC-20 tokens include canine rivals like SHIB and FLOKI, utility tokens for DEXs