The crypto market has faced bearish momentum over the past week, and meme coins have been no exception. Market leader Dogecoin has fallen 11%, despite excitement surrounding its exchange-traded fund (ETF) launched on Friday.
From an outside perspective, it might seem as though the meme coin market is deflated right now, with not only prices dropping but also the event touted as the most important in the sector’s history passing without significant impact.
However, according to experts, the long-term effects of the recent Dogecoin ETF could be much more influential. Additionally, investors who know where to look have still generated notable gains elsewhere in the meme coin market. Toshi has surged 18% today, MemeCore has increased 450% this month, and Pump.fun has risen over 90% this month as well.
Meanwhile, capital is pouring into Maxi Doge (MAXI), a Dogecoin derivative token on the Ethereum network. Currently in presale, the project has raised $2.5 million, showing strong interest among sophisticated investors.
It seems traders are impressed by this project mainly for two reasons: its innovative utilities and its viral branding. Let’s take a closer look at what MAXI is all about and whether it might be the best meme coin to buy right now.
Dogecoin ETF is “no slouch,” but the real excitement is to come
The Dogecoin ETF generated $17 million in trading volume on its launch day, which ETF expert Eric Balchunas said makes it one of the top five ETF launches of the year, out of 710.
He mentioned this positions DOGE nicely for the upcoming 33 Act ETFs. These ETFs, fully registered under the Securities Act of 1933, are expected to have wider distribution, increased credibility, and significantly higher potential investment inflows compared to the limited structure of the Rex-Osprey Act 40 ETF launched last week.
Currently, three Act 33 DOGE ETFs are pending SEC approval, with a deadline set for November. However, the fact that the Act 40 ETF has already launched signals that we might see expedited approvals.
Instead of buying DOGE directly, many traders are using Maxi Doge to capitalize on the ETF momentum with greater upside potential. Analyst ClayBro appeared on the 99Bitcoins YouTube channel and stated that “tiny little tokens like MAXI” could potentially explode as institutional capital begins to pour into the ETFs.
Maxi Doge’s utilities and viral branding
Maxi Doge is built on two main pillars: utility and branding. Regarding its utility, the project offers MAXI holders passive rewards through its integrated staking mechanism, which is live during the presale and currently yields a 135% APY. It also plans to host community giveaways with trading leaderboards and weekly challenges.
For more sophisticated or risk-hungry traders, the project’s whitepaper reveals plans to integrate MAXI into futures trading platforms. This opens up numerous speculative opportunities for MAXI, including capital-efficient high-conviction exposure, hedging, and scalping and day trading.
Maxi Doge also emphasizes branding and storytelling, presenting itself as Dogecoin’s younger cousin – a leverage trading degen cast in his older cousin’s shadows. He has been diligently studying charts and hitting the gym, and now he’s ready to prove himself as the pinnacle of the dog coin lineage.
The team is focusing on an underdog narrative, aiming to connect with millions of meme coin enthusiasts seeking that one trade that could transform their portfolios and lives. And it’s fitting, considering that MAXI isn’t a multi-billion-dollar asset listed on Wall Street, backed by giants like Binance or Coinbase, or funded by venture capitalists. It’s a community-driven project, likely developed by a few bros drinking Red Bull and eating pizza, much like Dogecoin in 2013.
No one knows for sure if Maxi Doge is the best cryptocurrency to buy now or if it will deliver the biggest returns as the Dogecoin ETF narrative intensifies. However, the project’s unique combination of brand and utility does help it stand out. And its current presale stage means that, if it becomes one of the top meme coins on the market, the gains it generates could be huge.
That said, price increases are expected throughout the MAXI presale, with the next one scheduled in just two days. Therefore, investors who haven’t bought yet should act quickly to secure the most upside potential.
