Layer twos have begun releasing individual tech stacks. LayerZero has launched its OFT token standard, allowing tokens to travel between blockchains at practically zero cost. And Asian markets are max bidding crypto. Any reasons to remain bearish have quickly evaporated, and the typical capital formation of bull markets has already begun.
Liquidity rotates through Bitcoin (BTC) to Ethereum (ETH), the large caps, and then altcoins. Bitcoin (BTC) stalling as memecoins Dogecoin (DOGE) and DigiToads (TOADS)presale shine with remarkable success tells investors everything they need to know about market sentiment. The bull run has returned.
DigiToads has burst onto the scene bringing a breath of fresh air to the memecoin genre. This unassuming token has perfected the viral marketing strategy, already clearing $5.8 million in its presale, but the true genius lies in the protocol’s design.
DigiToads can be best described as a suite of DeFi products, including a native DEX, a play-to-earn game, an educational platform, NFT staking, and much more. Each feature of The Swamp (the DigiToads ecosystem) attracts and generates revenue, then shares it with $TOADS holders.
The Platinum Toads initiative has particularly caught the eye of analysts. It sees a portion of the treasury distributed to the best on-chain traders in the community who trade on behalf of all $TOADS holders. This takes value from DeFi, allocates it to $TOADS holders, and resembles a DeFi-native asset management service.
Analysts commented on the aggressive deflationary model of $TOADS, and with a down-only total supply, the price of $TOADS will be forced to rocket upwards. They further stated TOADS was an excellent cryptocurrency for beginners and one of the best altcoins to invest in throughout the next six months.
A potential reason for the rampant success of the presale is the innovative pricing model employed by the doxxed team behind DigiToads. Demand drives price and this mechanism means early investors lock in a better price. Additionally, with no vesting period, every participant will be fully liquid at launch.
Bitcoin (BTC) Stalls
Bitcoin (BTC) has stalled on the news that Gary Gensler continues to drag his feet. Gensler stated that the Bitcoin (BTC) Spot ETF applications lack ‘clarity.’ Still, he struggles against the impossible, what BlackRock decides BlackRock gets.
However, this initial response from the head of the SEC has dampened the animal spirits surrounding Bitcoin (BTC). But looking at analysts’ forecasts for 2024 which predict a range between $51,094.46 and $61,471.02, this appears to be nothing but short-term noise.
Dogecoin (DOGE) Surges Toward Critical Resistance
Dogecoin (DOGE) has once again become one of the altcoins to watch as it surges toward critical resistance. This memecoin has always been popular amongst DeFi enthusiasts and retail investors. It has also become a go-to crypto for beginners, given its ease of access listed on all major centralized exchanges.
If Dogecoin (DOGE) can push up to $0.075, it will meet the 100-day moving average, and if the memecoin can flip this into support, investors should strap in and expect another leg up shortly.
Memecoins are back on the menu, and crypto markets slowly but steadily flip more bullish. $TOADS and $DOGE look to be the best altcoins to buy now, primarily because investors can still get ahead of retail and institutional investors.
Closing Thoughts: Success in the Coming Cycle Depends on Deploying Capital Now
Investors tend to wait for a lower entry point, but this isn’t always the best strategy and could potentially burn thousands of crypto investors. All the on-chain metrics have flipped bullish, meaning price is the only lagging element.
Dogecoin (DOGE) moving towards huge resistance, and the DigiToads’ presale flourishing proves that sentiment is more bullish than many market participants would like to admit. Investors who don’t want to get left behind in the coming bull run need to start accumulating today, and there is no better place to start than the TOADS presale.