Doge Meme Coin Presale Raises $5M Despite Bearish Market – Is P2E Crypto The Future?

Doge Meme Coin Presale Raises $5M Despite Bearish Market – Is P2E Crypto The Future?

The crypto market is having one of the worst corrections it has seen in a long time. The global market cap dropped 3.74% in the last day alone. The 24-hour volume has also decreased 18.88% in the last two days, from $62.31B to 50.54B. 

Following this trend, the meme coin market cap has also decreased by 7.28% in the last day.

Crypto market cap and 24-hour volume in the last month

In these bearish times, one Play-to-Earn (P2E) meme coin is witnessing significant growth with over $100K raised in the last day.

PlayDoge ($PLAY) recently surpassed the $5M target and is two days away from the next price increase

This Doge coin brings utility through its Tamagotchi-style mobile game that lets you earn passive $PLAY by caring for your virtual pet.

Let’s see why PlayDoge is gaining popularity while the rest of the crypto market is down.

P2E Meme Coin Offers Solid Utility and Staking Incentives

PlayDoge’s key feature is its P2E mobile game. It’s an upcoming 2D 90s game reminiscent of the retro Tamagotchi games. 

You can earn $PLAY tokens by caring for your Doge pet and playing mini games (like Space Invaders).

The better you care for your pet, the more rewards you receive. Leaderboard rewards add a competitive edge to the game, as earning XP brings you bonus $PLAY tokens.

The PlayDoge app will be free on the Google Play Store and Apple Play Store once the presale ends.

The project allocates 611M tokens for community rewards (including P2E rewards), which means earning passive income through the game is an attractive investment solution.

Crypto GameFi Market Cap Is Up $400M in the Last Day

Despite falling to the correction, the crypto GameFi segment remains popular among investors, and its market cap has risen 2.5% in the last 24 hours. Two GameFi projects that have climbed the highest in the last 24 hours are $KOL (+33.3%) and $RBLS (+10.9%).

GameFi utility is hard-coded into PlayDoge, making the project a more promising investment than other Doge coins.

A wave of nostalgia is sweeping over the gaming market, with Tamagotchi games reinventing themselves and tapping into the community’s affection for all things retro, which PlayDoge fully nurtures in its P2E game.

An ExpressVPN survey also shows that 79% of gamers play retro games, further strengthening PlayDoge’s position in the crypto market.

Percentage of gamers who play retro games
Source: ExpressVPN

Statista estimates the global video game market revenue to reach $666.69B by 2029, a 46.43% increase. In fact, gaming is one of the most popular entertainment industries in the world, with Tencent, Sony, Microsoft, and Apple making over $77B in combined revenue in Q4 2023.

PlayDoge Presale – Over $5M Raised and a 134% Staking APY

PlayDoge is currently worth $0.00512, with two days left until the next price increase. The presale has raised over $5M in less than a month, and investors have staked 243M tokens on $BNB and $ETH.

PlayDoge presale widget

The earlier you invest, the bigger the rewards. If it reaches $0.026 by the end of the year, you stand to make over 408% in profits (if you buy at the current price).

Buying 126,367 $PLAY for $647 and staking them for 134% APY would result in 295,698 $PLAY in one year, or $1,513.

The staking APY is dynamic, so the more people stake $PLAY, the lower the APY, which means lower rewards for late-comers.

To buy $PLAY, visit the official website, connect your wallet to the widget, and enter how much you want to spend. Confirm the transaction and wait for the presale to end to collect your $PLAY tokens.

Our Verdict – PlayDoge Is a Promising P2E Project

PlayDoge’s resilience during the current crypto correction is a good sign. Investor interest is stronger than ever, and it’s only a matter of time before the project is launched on exchanges.

Given the recent resurgence in Tamagotchi games and the success of GameFi crypto projects (like Immutable and Axie Infinity), $PLAY offers a promising long-term investment.

Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.

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