The Dogecoin bulls were in charge on Monday amid a surge in meme coin risk-taking in wake of Roaring Kitty’s return to social media, but investors are nonetheless shifting funds to a new GambleFi ICO called Mega Dice as they hunt for 10x or 895% gains.
Dogecoin gained 5% on Monday and was last trading just under $0.15, 10% up from earlier session lows.
Legendary GameStop investor Roaring Kitty, who was a key leader of the meme stock movement of 2021, triggered a spike in meme coin and meme stock sentiment when he made his first post on X since 2021.
pic.twitter.com/YgjVqtgcNS
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
His return triggered a chorus of calls that a new meme coin season might now be here.
But the Dogecoin chart gives little reason for that kind of optimism right now.
The Dogecoin price remains stuck near its 21DMA and substantially down versus its 50DMA.
And the price is arguably also in the process of forming a bearish descending triangle from its late-March highs.
A break below $0.12 support would open the door to a quick drop back towards $0.10.
Can Dogecoin Reach $1?
However, given it remains the undisputed king of meme coins, Dogecoin is a strong bet this bull market.
Dogecoin could feasibly 6.5x from current levels to hit $1, fulfilling a long-term prophecy of many of its community members.
At $1, Dogecoin’s market cap would be over $140 billion.
That’s a lot for a token that doesn’t have much utility beyond as a collector’s item and independent blockchain.
Few would expect Dogecoin to 10x or more. Investors looking to turn bigger profits, of 20-50x for example, should check out an often overlooked investment strategy – presale investing.
Web3 projects frequently sell their tokens at a big discount to early investors as they raise funds for development.
If presale investors can find a good projects that end up gaining decent traction in the market, they can book huge profits.
One presale project that analysts at Cryptonews are a big fan of is new GambleFi ICO Mega Dice Casino.
Dogecoin Alternative to Consider – Mega Dice (DICE)
Mega Dice is an already well-established crypto casino that recently launched a presale of its utility token, DICE.
With over 10,000 active monthly players and over $50 million wagered monthly, Mega Dice’s big user base ensures demand for DICE will be strong.
That’s evident in the huge success of the project’s presale, which is closing in on raising $1 million.
Another milestone reached here at Mega Dice Casino
We now have 9000 members in the $DICE Telegram community
$70K left before we hit $1M – Get your $DICE before next price increase
https://t.co/Pk6R16oOKk pic.twitter.com/vZCPF0Kzs0
— Mega Dice Casino (@megadice) May 13, 2024
Investors need to move quickly, as when the $1 million mark is hit, the DICE price will rise from $0.069.
At $0.069 per token, DICE is valued at a very modest $29 million market cap. That’s very low considering the amount of real-world adoption Mega Dice’s platform is already garnering.
With Mega Dice already a market leader in GambleFi, its coin could one day be worth over billions of dollars. This could easily be a 50-100x coin.
In terms of what DICE holders can expect to get – big cashback benefits on their wagers and an impressive passive income via staking.
Don't Miss Out! Join the $DICE Airdrop and Earn Your Share of a $750,000!
Learn how below
pic.twitter.com/OqbkcWR2LL
— Mega Dice Casino (@megadice) April 30, 2024
The new GambleFi ICO is also running a $750,000 airdrop to reward early presale investors. Mega Dice is also running a referral scheme.
Check Out Mega Dice Casino’s Presale
Refer & Earn with $DICE! 💰
Imagine your referral spends $1000, you will then automatically get your 10% referral fee of $100 🚀
Sounds good right? Here's how to get started: ⤵️ pic.twitter.com/lBX2izatxp
— Mega Dice Casino (@megadice) May 6, 2024
The post Dogecoin Investors Shift to New GambleFi ICO, Chasing Potential 895% Returns appeared first on Cryptonews.
