DOGS is now live on Binance. It rose by over +230% before cooling off. Analysts are now predicting what awaits the Toncoin meme coin.
Meme coins like DOGS only need one ingredient to go viral: Hype.
There might be another argument to support the explosive growth of PEPE or PlayDoge, but hype and community engagement are vital.
Unlike platforms like Ethereum or other “serious” protocols like Maker or Aave, meme coins exist merely for entertainment and speculation.
If you are lucky and get in early on quality projects like DOGS or PLAY, you can easily 100X your initial investment.
This speculation and race for the next PEPE or Dogecoin explains the rapid expansion of meme coins’ total market cap across Solana, Ethereum, and other ecosystems.
DOGS Lists On Binance, A 100X Gem?
In the Toncoin scene, all eyes have been on DOGS.
It is easy to see why:
DOGS is a meme coin inspired by the mascot Spotty, the pet dog owned by Pavel Durov, the CEO of Telegram.
DOGS was recently listed on Binance, the world’s largest crypto exchange, after a hugely successful launchpool.
(Source)
The listing on August 26 saw DOGS paired against BNB and USDT, a huge liquidity boost that will also accelerate adoption and growth.
On listing, DOGS prices flew by over 230%, peaking at around $0.0017932 before cooling off to spot rates.
Despite the sideways chop, the uptrend remains. The coin remains inside the August 26 trade range, and bulls are optimistic about what lies ahead.
The local support is at $0.0011678. If prices break $0.0013509, there might be more room for growth.
Going forward, traders will also be watching how crypto prices evolve.
All Eyes On the Meme Coins Vertical
A recovery of TON, the native currency of Toncoin, as seen with the relationship between SOL and its meme coins, might spur more demand, lifting prices and sentiment.
Beyond this, DOGS holders are confident, primarily because of what the meme coin brings.
Similar to Dogecoin and other top meme coins, DOGS is user-driven and community-focused.
Additionally, it was backed by other exchanges like Bybit and Gate.io, even before the Binance Launchpool and subsequent listing.
With more liquidity, it becomes effortless to trade, and DOGS will continue to draw more demand in the coming days.
This outlook shows the success of the Binance Launchpool, which saw over $5 billion worth of assets locked from nearly 1.8 million users, highlighting the surging demand before airdrop and token listing.
(Source)
The Future of Toncoin and DOGS Looks Bright
Despite the recent arrest and detention of Pavel Durov of Telegram, the Toncoin ecosystem is finding traction, lifting TON to the top 10 by market cap, according to Coingecko.
Moreover, the wild success of Catizen, Notcoin, and Hamster Kombat shows that the Toncoin ecosystem is getting started. As more capital pours into TON, DOGS will benefit from the rising tide, handsomely rewarding early supporters.
Therefore, with DOGS now available for trading on Binance, the world’s largest crypto exchange, its liquidity, user engagement, and community will only expand.
EXPLORE: Ellipal Titan 2.0 Review: Features, Benefits, User-Guide 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
