New meme coin and upcoming Uniswap listing Dogeverse ($DOGEVERSE) has made headlines for raising over $15 million in its ICO which ends in three days.
Owing to its multi-chain strategy of going live on 6 different blockchains simultaneously, the meme coin is witnessing strong early demand and significant excitement.
Dogeverse has even been featured in popular crypto news publications and is being touted by some influencers as the next big meme coin.
New meme tokens have been delivering outsized returns in this bull market. However, they also carry the risk of being scams and rug-pull projects.
In this article, we analyze Dogeverse’s fundamentals, including its security audit, and determine whether it is legit or a scam.
Why is Dogeverse in the Spotlight?
The excitement surrounding Dogeverse has particularly surged after its IEO announcement. Its presale will end on June 3rd and the meme coin will launch on exchanges on June 5th at 10 AM UTC.
Get ready to blast off with Cosmo! 🚀🌀⏳ #Presale ends on June 3rd at 10 AM UTC!🌐 Claim launches on June 5th at 10 AM UTC!This is your LAST CHANCE to join Cosmo on his #Blockchain adventures before the official launch! 🌌Don’t miss out! The clock is ticking! 📣… pic.twitter.com/QwpzWcm947
— DogeVerse (@The_DogeVerse) May 23, 2024
Dogeverse’s multi-chain status has been the key factor behind its early demand. As previously mentioned, the meme coin will launch on DEXs and CEXs in 6 different blockchain ecosystems, including Ethereum, Solana, BNB Smart Chain, Base, Avalanche and Polygon.
Investors appear to be excited about this strategy, considering it bodes well for the token’s brand awareness and adoption after its launch.
The project has also launched a Dogeverse Bridge using wormhole technology, which allows holders to transfer their tokens from one chain to another. This allows them to benefit from the best features of each blockchain, such as Solana’s low trading fees and Ethereum’s staking rewards.
Is Dogeverse Legit or a Scam?
The Dogeverse developer team appears to have taken several steps to eliminate common security concerns associated with new meme coins.
For instance, the Dogeverse smart contract has been audited by Coinsult, which did not reveal any medium or high security risks. The owner of the contract cannot engage in malicious activities, such as miniting new tokens, blacklisting addresses or pausing the contract.
The audit has also ensured that Dogeverse is not a honeypot token - a common tactic used by scammers in which investors cannot sell their tokens or can have their balance altered.
The buy and sell tax for Dogeverse are also 0%.
Dogeverse has functioning and thriving X and Telegram accounts, often a mark of a legitimate project. The X account has over 24k followers while its Telegram group has close to 17k members.
The project’s X account also started in April of 2024, which means that it is not a scam profile masquerading as a new project.
In the spirit of transparency, Dogeverse has also revealed its office address as well as provided an additional email address for contact. Scam projects typically do not reveal such information.
The developer team has also published the project tokenomics on its website, which reveals no separate allocation for the developer team or any private sale. This reduces the risk of pump-and-dump price action after the token’s launch.
The developer team has also taken robust security measures with the Dogeverse presale platform, building it on the back of Web3Payments technology. This ensures that the purchase information of presale buyers is stored safely on-chain.
The meme coin has also been featured in popular crypto news publications - such as Cointelegraph, Decrypt and Watcher Guru - which offers additional legitimacy to the project.
Sites that track crypto prices and new crypto ICOs such as CoinCodex and Coincarp have also reviewed the project, and Dogeverse appears in numerous CoinMarketCap community articles.
Popular YouTube channels - such as 99Bitcoins with over 700k subscribers - have mentioned the new meme coin in a positive light.
Major influencers such as Cilinix Crypto have even publicly revealed that they have purchased Dogeverse during its presale.
Based on the available information, it appears that Dogeverse is a legitimate project that has taken stringent security measures to eliminate all major risks.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
