New gaming meme coin PlayDoge ($PLAY) has gotten off to an explosive start as its presale nears $250K in its opening 24 hours.
The overwhelming response to the presale’s launch illustrates that investors are taking note and could see $PLAY become one of the market’s hottest new meme coins.
PlayDoge’s Tamagotchi-style virtual pet game has huge potential
While PlayDoge’s meme coin exterior was implemented to draw a crowd and bolster community relations, its true underlying essence is its Play-to-Earn (P2E) Tamagotchi-style pet game.
For those who don’t know (or remember), Tamagotchi is a small handheld gaming device in which you care for a digital Tamagotchi pet.
It launched in 1996 and quickly gained notoriety, selling over 82 million units.
PlayDoge’s contemporary reboot undertakes a similar feel to the original Tamagotchi. Users have their own 8-bit pixel Doge to look after, ensuring it is fed, entertained, and in a good mood.
But here’s the kicker – users can earn $PLAY tokens while caring for their Doge.
The platform features a leaderboard system, and users can climb the ranks by caring for their pets and completing minigames.
As they go higher up the leaderboard, they earn more $PLAY.
And $PLAY has real utility, too. Users can cash it out, make in-game purchases, or stake it to compound their rewards.
Currently, stakers can garner a whopping 3,000% APY. However, this will decrease as the staking pool grows.
At the time of writing, 6 million $PLAY tokens have already been staked.
In essence, $PLAY token powers the entire PlayDoge ecosystem.
Factoring in PlayDoge’s meme coin outlook, it becomes obvious why early investors are rushing into the presale.
Utility meme coins are quietly steaming ahead, but PlayDoge could be the front-runner
Recent data shows that over 20,000 new meme coins are brought to market daily. While that might be great for on-chain activity, it dials up the difficulty of investing in new projects.
The sheer volume of cryptos (mainly meme coins) entering the industry every day makes finding the next Dogecoin or Pepe near impossible.
However, finding the next Floki or Shiba Inu is still within reach.
That’s because Floki and Shiba Inu are utility-driven meme coins, meaning investors can conduct traditional fundamental analysis alongside assessing the project’s “memeability.”
With that, they can make high-conviction decisions based on more than just “a hunch.”
The market has recently taken a shine to these utility-based meme coins, with both Floki and Shiba Inu faring as outperformers.
For instance, Floki is up over 25% this week, outperforming the majority of the top 10 meme coins, including Pepe and Dogecoin. Floki is also up by a whopping 80% this month.
Meanwhile, Shiba Inu has come out on top in the showdown against Dogecoin, up 233% this year compared to Dogecoin’s 132%.
So, considering that the market is hungry for utility-based meme coins, and the process of choosing them is much more calculated, PlayDoge’s early success is no surprise.
While its Doge-themed meme coin facade provides a viral outlook, PlayDoge’s Play-to-Earn utility and proximity to one of the most iconic games of the 90s presents bucketloads of long-term potential.
Launching on BSC may provide PlayDoge with an upper hand
Unlike many new meme coins that choose to launch on Solana, Ethereum, and Base, PlayDoge has opted with Binance’s BSC.
While the immediate reaction suggests a possible internal connection with the Binance team, laying the way for a launch on the tier-one exchange, it’s not the only thing causing excitement.
Per DeFiLlama data, BSC is currently the third-largest blockchain network by TVL, with over $6 billion sitting on chain.
In the last market cycle, BSC’s prominence saw its leading meme coin, SafeMoon Inu, soar to a market cap in the multi-billions.
But after some internal issues for SafeMoon Inu, BSC’s meme coin front is open for the taking.
This presents the perfect launch environment for PlayDoge, with billions of dollars potentially awaiting deployment into the network’s next big project.
PlayDoge could be the next 100x meme coin
Bringing together its robust use case, the rising interest in utility meme coins, and its position on BSC, PlayDoge is one of crypto’s hottest meme coin prospects.
Projects like Pepe, Bonk, and Dogwifhat have emerged in recent months and taken the market by storm, but all eyes are now on PlayDoge.
In a recent YouTube video, Jacob Bury speculated that PlayDoge could be bigger than Axie Infinity or Floki.
Indeed, this is massively bullish, considering PlayDoge remains in its opening 24 hours of presale. Axie Infinity peaked at a near-$10 billion market cap, and Floki is valued at $2.9 billion.
So if PlayDoge can catch these projects, the gains for presale investors would be outrageous.
The project’s early hype has also caught the attention of heavyweight crypto media outlets, including CryptoPotato, Watcher Guru, and Finbold.
But with its star power growing, those seeking to buy must act fast.
The current PlayDoge presale price is $0.005, but this will rise throughout the campaign. The next uptick will occur in three days or when the total raise hits $787K.
So don’t miss out. Follow PlayDoge on X or join its Telegram for the latest updates. Alternatively, visit its website to buy and stake tokens.
