Key Takeaways:
- Meme token Doge CEO price rallied during April’s meme token frenzy.
- Later, DOGECEO price pulled back sharply from its recent ATH.
NEW DELHI (CoinChapter.com) — The recent meme tokens frenzy seems to be calming down as different memecoins pull back from new highs. Doge CEO, another canine-themed meme token family spawn, rallied to a new high on April 18.
The meme token, which claims to be a crypto asset that both Elon Musk and John Cena love in its Twitter bio, nosedived 69% from its new ATH of $0.000000000016 to reach a low of $0.000000000005 on April 28.
The downtrend came despite a strong shilling campaign on Twitter. A tweet showing Doge CEO token being the death of other meme tokens like Pepe Coin, Wojak Coin, Floki, etc., had over 35,600 views. The post claimed the DOGECEO token would likely give investors 10x gains.
Moreover, the tweet speculated that the Doge CEO token might get a listing on CEXs like Bitmart, Mexc, Gate.io, etc.
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DOGECEO price dropped to a low of $0.000000000002 on April 24 before recovering. The meme coin had a self-reported market cap of $1.05 million, with CoinMarketCap stating that the stats for the token remained unverified.
Doge CEO Introduced Burn Mechanism
Meanwhile, news of Doge CEO coin migrating to a new contract hit social media on April 20, but the meme coin’s price action barely reacted. The Doge CEO V2 smart contract introduced an automated buyback and burn facility for the meme token.
The new version would also introduce tokens for CEX listing.
The project is currently in phase 2 of its roadmap.
The second phase of development would see the DOGECEO token target 20,000 holders and 10,000 telegram group members. Furthermore, the project would also target listing on different exchanges along with launching a marketing campaign for the underlying token.
Doge CEO touts itself as a community project with a special focus on DeFi. The project’s native token, DOGECEO, has a 420 quadrillion total supply, with a 4% reflection for holders. Additionally, the platform set aside 2% of the tokens for the auto buyback and burn program.
4% of the token supply would go towards marketing and development. Interestingly, the team claims to have renounced ownership of the tokens.
