The post Dogs Price Tanks 30% in a Week as Traders Switch to This Promising New Meme Coin appeared first on Coinpedia Fintech News
It has been a disappointing week for meme coin enthusiasts who bought Binance’s latest offering, Dogs – it’s down by over 30% in the last seven days.
But another token is emerging, and traders expect massive gains in the coming weeks.
Dogs Slumps On Binance Listings But Finds Footing at $0.001
Do Binance listings no longer have the same effect?
Dogs listed on the top exchange and have embarked on a “down-only” trajectory since.
Previously, Binance listings were a big deal for meme coins. Just look at Pepe or Dogwifhat; both vigorously explode after listing on the platform.
But with Dogs, two factors have created a blockade, stopping the gains many early investors hoped for.
First, the crypto market sentiment is terrible right now.
The Fear and Greed Index is near its lowest level since the bear market, and many investors are opting for capital preservation rather than gains.
Second, Dogs launched with a multi-hundred million dollar market cap.
Dogs is a Toncoin-based meme coin and was already trending before its token launched. It has over 17 million members on its Telegram channel and 3.7 million on its X.
The project also had a big community airdrop. Many airdrop participants likely started selling their tokens immediately, further suppressing Dogs’ price action.
And then factoring in the bearish market conditions, it’s no surprise that Dogs has slumped since its launch in late August.
But the question becomes – can it recover?
Its price chart indicates it may have found a bottom. It has started trading sideways around $0.001, which one trader on X deems as a breakout pattern.
The trader also noted that Dogs can perform well alongside Toncoin. So, should we see TON rally, Dogs could also start to climb.
https://twitter.com/mandalaangel/status/1831355684174405963
And considering its community size, it certainly looks like Dogs can recover.
But while Dogs has been crashing, traders have been rotating to a new meme coin.
It’s called Pepe Unchained and is currently undergoing a presale, where it is seeing massive success.
New Meme Coin to Watch: Pepe Unchained Raises $12M for L2 Blockchain
Traders are wasting no time with Pepe Unchained.
It’s undergoing a presale and has already raised almost $12 million. That’s some serious investment, especially considering the broader market’s current difficulties.
While traders shy away from other cryptos, they pour into the Pepe Unchained presale.
As its name suggests, Pepe Unchained is inspired by the iconic Pepe coin.
But it takes things much further than your average Pepe imitation. It’s launching its own Ethereum layer 2 blockchain.
Imagine a blockchain – designed solely for meme coins – that is also cheaper and 100x faster than Ethereum. That’ll be the “Pepe Chain.”
And they’re committed to making this a legitimate layer 2. It’ll also have staking, a block explorer, and a dedicated Ethereum bridge.
Some of the industry’s top-rising traders are infatuated.
Umar Khan from 99Bitcoins says it’ll be “the next Pepe” and thinks he could generate 100x gains on his money.
“It has 100x potential – it’s a great Pepe alternative and a solid investment opportunity,” he said.
Today, investors can buy Pepe Unchained at the discounted presale price of $0.0094982.
However, the price will rise throughout the campaign, with the next increase in under one day.