NOIDA (CoinChapter.com)—DOGS is a brand new meme cryptocurrency intently tied to the Telegram group. Working on the TON blockchain, DOGS goals to transcend the meme coin label and grow to be a ‘promising utility‘ within Telegram’s ecosystem.
The token has a complete provide of 550 billion tokens, with its preliminary circulation of 516.7 billion representing almost 94% of the entire provide. Regardless of its formidable objectives, little is thought in regards to the builders behind the undertaking, elevating questions on transparency.
The token’s speedy itemizing on main exchanges and huge airdrop might doubtlessly trigger volatility in its early buying and selling days.
DOGS Value Motion
Previous to launching on centralized exchanges like Binance, the DOGS token has been buying and selling on decentralized exchanges like Orca.
Nonetheless, the token’s price motion stays disappointing, regardless of the Binance information and the prospect of itemizing throughout different exchanges.
If the downtrend continues, the Solana-based memecoin’s price dangers a drop to the assist close to $0.00714 and $0.0068. Nonetheless, ought to the token begin trending upwards, the DOGS/USD buying and selling pair price would face resistance close to $0.0077 and $0.0081.
Furthermore, the bearish price motion additionally highlights revenue reserving dangers as soon as the token goes stay on exchanges, which might be very unhealthy for the memecoin.
Latest Listings and Change Participation
Binance led the cost in itemizing the DOGS token, introducing it to its Launchpool platform on August 23, 2024. Customers can stake BNB and FDUSD to farm DOGS tokens over three days, with the official buying and selling scheduled for August 26.
Binance’s involvement gives important publicity to DOGS, however the rushed timeline and lack of developer transparency might increase investor issues.
Following Binance, DOGS will likely be listed on severalother main exchanges, together with OKX, KuCoin, Bitget, and Gate.io. The widespread availability throughout these platforms suggests sturdy group curiosity however hints at a possible sell-off threat.
Over 400 billion DOGS tokens will likely be airdropped to eligible customers, coinciding with its itemizing. Whereas indicative of sturdy demand, this huge distribution might flood the market with provide, driving down the price post-launch.
Bitget went a step additional by providing a gas-free airdrop and nil transaction charges for DOGS/USDT buying and selling till August 27. The promotion features a 1 BTC reward for contributors. Nonetheless, the absence of clear details about the DOGS growth group and the numerous variety of tokens being airdropped might pose dangers for long-term worth retention.
The token’s success hinges on continued utility inside the Telegram ecosystem and sustained group engagement, however these components stay unsure because the token enters the broader market.