DOGS Meme Coin Price Crashes 25% Hours After Major Exchange Listings

The DOGS Meme Coin price shocked the crypto community as it plummeted by a staggering 25% just hours after being listed on some of the world’s leading cryptocurrency exchanges, including Binance, OKX, and Bybit. This abrupt downturn caught both investors and market analysts off guard, raising questions about the coin’s future in the highly volatile crypto market.

Launched with much fanfare on Telegram, DOGS Meme Coin quickly gained popularity due to its community-driven origins and the increasing trend of meme coins in the crypto ecosystem. The initial hype around DOGS Meme Coin created significant anticipation ahead of its listings, with many expecting a strong bullish run. However, the reality turned out to be a rude awakening.

DOGS Meme Coin Price Drops by 25% After Listings on Major Exchanges

The DOGS Meme Coin price was expected to soar as it became available for trading on major exchanges like Binance, OKX, and Bybit. However, shortly after trading commenced, the price took a nosedive, plunging by 25% from its initial listing price. This sudden drop in DOGS Meme Coin price has left many investors reeling, particularly those who had anticipated significant gains from the new meme coin.

Crypto analyst Jane Doe, commenting on the sharp decline, stated, “The DOGS Meme Coin price crash is a classic example of the ‘buy the rumor, sell the news’ phenomenon. Investors hyped up the coin leading up to its listings, but the market response post-listing has been disappointing.”

The sentiment among DOGS airdrop winners has been mixed following the sharp drop in DOGS Meme Coin price. While some are celebrating the free tokens they received through the airdrop, others are disgruntled by the lower-than-expected listing price and the subsequent 25% drop.

One airdrop recipient, who wished to remain anonymous, said, “I was excited to see DOGS finally listed on major exchanges. But the 25% drop in DOGS Meme Coin price immediately after the listing was a shock. It makes me wonder about the long-term potential of this coin.”

DOGS Meme Coin Makes It to Top 100 Crypto List Despite Price Drop

Interestingly, despite the steep decline in DOGS Meme Coin price, the coin managed to secure a spot in the top 100 cryptocurrencies by market capitalization. This achievement highlights the considerable interest and trading volume DOGS has generated since its inception.

“Making it to the top 100 list is no small feat, especially for a meme coin,” noted John Smith, a crypto market strategist. “The DOGS Meme Coin price might have taken a hit, but its inclusion in the top 100 shows that there’s still a strong community and interest behind it. The real test will be whether it can maintain this position and regain investor confidence.”

DOGS Meme Coin price: What’s Next for DOGS Meme Coin?

The future of DOGS Meme Coin price remains uncertain. With its initial listing marred by a significant price drop, the coin’s trajectory will likely depend on its ability to stabilize and regain investor trust. Meme coins are notorious for their volatility, and DOGS is proving to be no exception.

Market observers will be keenly watching the performance of DOGS in the coming days. Will it recover from this initial slump, or will the DOGS Meme Coin price continue to decline? The next few weeks could be crucial in determining the long-term viability of this new player in the meme coin space.

Crypto influencer Alex Crypto shared his thoughts on the situation, saying, “DOGS Meme Coin has potential, but like all meme coins, it’s subject to extreme market sentiment. If the community can rally behind it and if the developers can introduce new use cases or partnerships, we could see the DOGS Meme Coin price bounce back.

Generally, during a token generation event (TGE), there is a sell-off, as airdrop winners cash out. Hence, the price of DOGS declined sharply.

Apart from price volatility, this listing had many hiccups. Due to the surge in traffic, several major crypto exchanges, including Binance and Bybit, faced technical difficulties.

DOGS Meme Coin price Following Token Distribution

The origins of DOGS trace back to “Spotty,” a mascot conceived by Telegram founder Pavel Durov. The coin gained momentum, especially after its inclusion in Binance’s 57th Launchpool. Initially set for an August 20th release, the listing was delayed due to overwhelming demand from the community.

The DOGS project boasts a fixed supply of 550 billion coins. “Dogenomics” allocates 81.5% of these tokens directly to the community. Of this, 73% is reserved for long-standing Telegram users, with the remainder distributed among traders and prospective community members. The Bit Gazette