As the Dogecoin (DOGE) price remains wedged to the south of $0.17 resistance, Dogecoin holders are ditching their DOGE tokens for a new ICO called 5thScape (5SCAPE), which some investors are betting will become a major leader in the crypto AR/VR space.
Dogecoin was last changing hands around $0.1650, up 11% so far this week in tandem with a broader market rally.
Under normal circumstances, now might not be the best time for Dogecoin holders to ditch their DOGE tokens.
The cryptocurrency appears to have formed an ascending triangle pattern in the past few weeks.
Such patterns typically form ahead of bullish breakouts. And if a bullish breakout does come, a quick return to March highs near $0.23 is probable.
As Dogecoin forms an ascending triangle pattern and threatens a bullish breakout, this new ICO is getting a lot of attention. Source: TradingView
Dogecoin could thus be setting up to post quick 40% gains, despite having already rallied 37% from early May lows.
But Dogecoin’s bloated market cap, last nearly $24 billion as per CoinMarketCap, suggests room for further upside is limited.
Long-term advocates of the meme coin hope it can one day hit $1. That would represent gains of north of 6x from current levels.
But that would mean Dogecoin’s market cap reaching over $140 billion. That will be difficult to achieve, even if Bitcoin surges above $100,000.
Traders looking to book bigger, faster gains often turn to smaller, more speculative altcoins.
One potentially highly profitable strategy they often neglect is investing in presale investing.
This is where upcoming web3 projects sell their native tokens at a discount to early investors to fund development.
One project that the team at Cryptonews are big fans of is exciting AR/VR project 5thScape (5SCAPE).
Many expect it to become a market leader, hence its no shock that Dogecoin holders are flocking to the token.
Here’s why the new ICO could deliver 1,000% gains.
New ICO 5thScape – Here’s Why It Could Deliver 1,000% Gains
5thScape is a first-of-its-kind crypto-infused VR/AR ecosystem that will be powered by the versatile 5SCAPE token.
The project is an ecosystem of 5SCAPE-powered VR dApps. The beta version of its first game “MMA Cage Conquest” is already available in the META store.
Exciting news, fight fans! Step into the adrenaline-fueled world of mixed martial arts with “MMA Cage Conquest” – the ultimate VR experience for MMA enthusiasts.
Now available on the META store in beta version!
Checkouthttps://t.co/ocnZmChmKV
Train, fight, and… pic.twitter.com/sekC30LWFV
— 5th Scape (@5th_scape) May 9, 2024
And the project’s exciting presale of its native 5SCAPE token has been making waves. The new ICO has already raised over $6.1 million.
We’ve reached $6.0M , VR is a Revolution and We $5Scape as a Community are the Trendsetters
Thanks to YOU, our awesome community!
Get ready for next-level gaming adventures and VR Innovations as we embark on this exciting journey together! Let’s make magic happen… pic.twitter.com/RvUmUyU8ws
— 5th Scape (@5th_scape) May 21, 2024
At the current price of $0.00327, investors are buying into the project at a market cap of under $20 million.
They will also be sitting on paper gains of over 200% when the token launches at a planned $0.1.
If 5thScape starts to gain traction as a market leader, it could easily become a $200+ million market cap coin.
That could mean gains of over 10x or 1,000% for presale investors.
Which Crypto Pre-Sale has 100X Potential?
— 5th Scape (@5th_scape) May 17, 2024
But if investors want to get in at this favorable valuation, they need to move fast. When the presale hits $6.25 million, the price will jump 15% to $0.00376.
$5SCAPE token can be bought today with ETH, MATIC, USDT, or BNB.
80% of the total 5.1 billion token supply is available for purchase in the presale.
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