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In a recent evaluation, renowned crypto expert Miles Deutscher presented his thesis<\/a> on a cryptocurrency he believes has the potential to compete with Dogecoin during this market cycle. With a following exceeding 550,000 on X and 208,000 subscribers on YouTube, Deutscher’s perspectives hold considerable influence in the crypto sector.<\/p>\n Titled \u201cI Just Found The Next DOGE! [10X Potential\u2026 Or More?],\u201d Deutscher\u2019s video delves into the unrealized possibilities of Luckycoin (LKY)\u2014a meme coin that predates Dogecoin and played a crucial role in its development. \u201cDogecoin was initially a fork of a cryptocurrency named Luckycoin, which is itself a fork of Litecoin<\/a>,\u201d Deutscher noted, citing Dogecoin\u2019s official website. This connection underscores Luckycoin’s foundational role in the advent of Dogecoin.<\/p>\n To support his assertion, Deutscher referred to a podcast featuring Jackson Palmer, the co-creator of Dogecoin. Palmer remarked: \u201cYou were questioning me prior to the show about why there was a decision to fork Luckycoin, which was itself a fork of Litecoin, which is a fork of Bitcoin\u2026 And that\u2019s because Luckycoin had this entire concept of random block rewards built into it.\u201d<\/p>\n Deutscher additionally highlighted that Dogecoin\u2019s source code includes lines almost identical to those of Luckycoin, the main distinction being the substitution of \u201cLuckycoin\u201d for \u201cDogecoin.\u201d Launched in May 2013, Luckycoin\u2019s network ceased operations in November 2013. The final original block, numbered 81,743, was mined on November 26, 2013. Factors contributing to its inactivity included the vanishing of its founder and the unsustainable nature of its random block rewards, which dissuaded miners.<\/p>\n However, on August 25, 2024, the network was revived beginning from block 81,744. This community-driven resurgence has renewed interest in Luckycoin, positioning it as one of the earliest actively mined chains. \u201cThis designates it as the longest-running meme coin blockchain ever. What\u2019s the next oldest running meme coin blockchain? It\u2019s Doge, and Luckycoin is indeed older than Doge,\u201d Deutscher emphasized.<\/p>\n The resurgence has prompted a significant rise in Luckycoin\u2019s hash rate. At one juncture, it surpassed Litecoin and Dogecoin in this regard. \u201cWhen you observe a surge in interest for mining a coin, there are two primary reasons: First, when prices rise, it creates a flywheel effect enticing more miners, as they perceive profitability. Second, exchanges aiming to list a coin that may lack the necessary supply [\u2026] The sole method for them to acquire enough Lucky for listing is to mine the coin themselves,\u201d Deutscher elaborated.<\/p>\n Significantly, industry insider Crypto Dog hinted that major exchanges are mining Luckycoin: \u201cNot disclosing names, but I\u2019m aware that one tier-one exchange is actively accumulating Lucky through LTC merge mining.\u201d<\/p>\n Deutscher took note of the inconsistencies in Luckycoin\u2019s market capitalization as reported on platforms such as CoinMarketCap and CoinGecko, which present it around $100 million. He contended that these statistics are misleading due to lost or inactive coins from the initial mining periods.<\/p>\n By factoring in roughly 8 million Luckycoins likely inaccessible or lost, Deutscher estimated the actual active supply to be about 6.2 million Luckycoins. At the current price of $9, this positions Luckycoin\u2019s market cap at approximately $56 million.<\/p>\n In contrast to Dogecoin\u2019s $64 billion market cap, Deutscher underscored the growth potential: \u201cLuckycoin is 1,141x short of Doge, which is a substantial disparity and, I believe, a significant shelling point for retail since this is the OG Doge.\u201d<\/p>\n Deutscher illustrated several scenarios demonstrating Luckycoin’s potential:<\/p>\n Stressing the significance of storytelling in crypto, Deutscher remarked: \u201cCrypto is driven by narratives<\/a>; crypto thrives on stories. I personally haven\u2019t encountered a narrative as compelling in crypto for quite some time.\u201d He believes Luckycoin\u2019s rich legacy and direct link to Dogecoin create a captivating story that could resonate with both retail investors and the larger crypto community.<\/p>\n Looking forward, Deutscher identified the approaching Chinese New Year<\/a> on January 29th as a potential trigger. In Chinese culture, luck and wealth are highly esteemed, and Luckycoin\u2019s branding aligns perfectly with these themes.<\/p>\n \u201cChinese culture encapsulates luck, prosperity, wealth, and health. Luckycoin epitomizes this [\u2026] If China embraces this narrative, the stars are essentially aligning for this coin to perform extremely well,\u201d he proposed.<\/p>\n Currently, Luckycoin is not extensively available on prominent exchanges, which Deutscher perceives as both a hurdle and an opportunity. \u201cIt\u2019s not present on Bybit, OKX, Binance, or Coinbase\u2026 It has only recently been listed on MEXC. Due to its absence from major exchanges, liquidity is limited [\u2026] Once it becomes available [\u2026] that could potentially lead to significant retail interest in acquiring this coin,\u201d he noted.<\/p>\n Beyond his advocacy, Deutscher pointed out that other noteworthy figures are starting to talk about Luckycoin. Particularly, Ansem<\/a>, known for his influence on Solana-based projects, has recognized Luckycoin as the \u201cOG Doge.\u201d<\/p>\n \u201cThe key factor here is that he is aware of it and is discussing it [\u2026] I believe this will continue gaining momentum, not just due to the OG Doge narrative during a cycle where Doge is performing exceptionally well but also because of the Chinese New Year theme,\u201d Deutscher projected.<\/p>\n Deutscher shared his personal investment in Luckycoin, acquired between $2.20 and $3.20. He emphasized his transparency: \u201cI\u2019m not compensated for this video. I\u2019m not funded because there is no team behind it. I wasn\u2019t provided a discounted OTC. I invested my own money; I personally support this. I\u2019ve embraced this narrative myself because I believe in it.\u201d<\/p>\n While optimistic regarding Luckycoin\u2019s future, Deutscher cautioned about the inherent risks: \u201cThis is a risky meme. It\u2019s a meme with a $50 million market cap. It could potentially plummet. I\u2019m unsure of what may transpire [\u2026] Memecoins are speculative, right? There are no guaranteed victories.\u201d<\/p>\n At the time of this report, LKR was trading at $15.64.<\/p>\n Featured image created with DALL.E, chart from TradingView.com<\/p>\n<\/div>\nIs Luckycoin The \u2018Next Dogecoin\u2019?<\/h2>\n
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