As the Dogecoin (DOGE) price struggles just to the north of its 21 and 50DMAs, holders are flocking to a new DOGE alternative called Dogeverse (DV) as they bet on potential 100x returns.

The Dogecoin price is set to close out May up a solid 20%. That said, it’s still down around 30% from its earlier yearly highs.

At current levels around $0.16, Dogecoin’s bullish momentum has pretty much petered out.

As Dogecoin threatens a retest of recent lows, holders are checking out a new DOGE alternative called Dogeverse. Source: TradingView

Dogecoin might push higher and retest its yearly highs above $0.22 if next week’s US data provides macro tailwinds.

But it could just as easily retest recent lows around $0.12. Given the market’s lack of conviction, it’s no surprise to see Dogecoin holders flock to exciting new alternative Dogeverse.

New DOGE Alternative Dogeverse (DV) – Can It 1,000?x?

New DOGE alternative Dogeverse is a fun new meme coin that aims to be the multi-chain equivalent of Dogecoin.

It will launch across the six most used blockchains (excluding Bitcoin) and comes with useful in-built cross-chain capabilities.

Most meme coins like Dogecoin lack clear utility. Dogeverse has no such problem, with some betting is could become a highly popular inter-blockchain bridging asset.

With a snap of his fingers, multi-chain becomes a reality! #Memecoins #Solana #Ethereum #Crypto #MemeCoinSeason #Marvel #Avengers pic.twitter.com/xI5ysV5HED

— DogeVerse (@The_DogeVerse) May 30, 2024

As a result, Dogeverse is generating considerable excitement in meme coin investing circles.

It’s no surprise then that its presale has already raked in well over $15 million.

DeFi degens have also been flocking to the token to benefit from its impressive staking rewards program.

As per the official Dogeverse website, presale investors are currently receiving an APY rate of 42%. That easily ranks it one of the best crypto coins to stake right now.

Interested investors better get in quick, with the presale closing in just over two days.

Only 3 days left till the #Presale ends!

Last chance to get $DOGEVERSE!

The first #DOGE meme token built on a multi-chain network spanning #Ethereum, #BNB Chain, #Polygon, #Solana, #Avalanche and #Base! #Memecoins #Altcoins #Crypto #Web3 pic.twitter.com/dtJQsFLPOZ

— DogeVerse (@The_DogeVerse) May 31, 2024

At the current price of $0.00031, DV is valued at around $60 million. But this meme coin has he potential to go a lot higher.

Could it 10x to become a $600 million market cap coin? Well, there are many meme coins out there with market caps in this region with a much less compelling value proposition than Dogecoin.

Could new DOGE alternative Dogeverse 100x to $6 billion? Dogecoin (DOGE) has a $23 billion market cap, Shiba Inu (SHIB) is valued at $15 billion and Pepe (PEPE) $6.5 billion.

It would be a long shot. But other meme coins have shown it’s possible to reach these heights with a strong enough community.

Could Dogeverse 1,000x to $60 billion. Well, that’s highly unlikely but this is crypto. Never say never.

Visit Dogeverse Here

The post Dogecoin Holders Flock to New DOGE Alternative, Betting on Huge 1000x Returns appeared first on Cryptonews.

An Indian police officer was arrested on May 31 for allegedly stealing Bitcoin worth INR 1.8 crore (approximately $216,000) during a crypto scam investigation.

Indian Police Scam Reveals Collaboration With Bitcoin Wallet Hacker

According to local media news Hindustan Times, the Special Investigation Team (SIT) of the Central Crime Branch (CCB) apprehended the police inspector named Chandradhar. This marks the fourth arrest in the ongoing 2020 Bitcoin scam case.

According to the Indian police scam report, police inspector Chandradhar allegedly accessed Bitcoin wallets illegally and stole INR 1.8 crore worth of Bitcoin. He also destroyed evidence related to these transactions.

The officer faces charges under several sections of the Indian Penal Code (IPC), including criminal breach of trust, mischief, common intention, omission, cooperation in crime, and destruction of evidence.

The investigation has led to the arrests of two other police officers, Prashanth Babu and Lakshmikanthaiah, who were previously arrested for similar crimes. They and Chandradhar used their positions to manipulate and access critical information unlawfully.

India Bitcoin Scams Continue to Scale

India has witnessed an increase in Bitcoin scams and frauds, prompting regulators to tighten their oversight of the nation’s crypto sector.

On May 1, Crypto News reported that the Central Bureau of Investigation (CBI) in India conducted a nationwide search operation to crack down on an app-based fraudulent investment scheme. The searches spanned 30 locations across 10 Indian states and Union Territories, targeting two private companies and their directors accused of involvement in the HPZ Token App scheme.

Incriminating documents and digital evidence, such as mobile phones, hard drives, SIM cards, debit cards, and email accounts, were seized during the search.

Investigators revealed that the fraudsters enticed victims to invest in the app by guaranteeing huge returns on Bitcoin mining investments. So far, the probe has identified around 150 bank accounts allegedly used by the accused to collect funds from investors. The investigation is ongoing.

The incident is reminiscent of the 2018 ‘Gain Bitcoin’ Ponzi scheme, where businessman Amit Bhardwaj defrauded over 8,000 individuals, amounting to INR 2,000 crore.

ED attaches assets worth Rs. 42.88 crore in GainBitcoin Ponzi Scheme masterminded by Amit Bhardwaj and associates.

— ED (@dir_ed) September 21, 2018

Bhardwaj engineered a multi-level marketing scam, manipulating and enticing investors to exchange Bitcoins with the promise of high returns. He introduced an 18-month contract guaranteeing a 10 percent yield, which ultimately turned out to be fraudulent.

In April 2024, the Indian authorities seized $11 million from a top British-Indian businessman who received 285 Bitcoin from Bhardwaj.

The post Indian Police Officer Arrested For Siphoning Over $200K In Bitcoin Related To Crypto Scam Investigation appeared first on Cryptonews.