Memecoin Frenzy! Dogcoin (DCOIN) Explodes 500% on Ethereum – Here’s Why

The memecoin industry, valued at about $115 billion with a daily trading volume of $21 billion, has been gaining more attention lately. Dogcoin (DCOIN), a dog-themed memecoin built on the Ethereum (ETH) network, is one of the standout projects, seeing impressive growth thanks to its active online community of investors.

In the last 24 hours, DCOIN’s price shot up by around 500%, reaching $0.00455 during the early London trading session on Friday. With a fully diluted valuation of $4.5 million, this small-cap memecoin also saw a huge increase in its 24-hour trading volume, rising more than 13 times to $12.3 million.

Top Reasons Why DCOIN is Booming

DCOIN has already made its mark on the Biconomy Exchange and now boasts over 1,500 on-chain holders. What sets DCOIN apart is its community-driven approach. The developers didn’t participate in presales or team allocations, instead providing the entire coin supply directly to the liquidity pool.

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To make sure trading stays seamless, nearly 40 Ethereum (ETH), worth about $130,000, is locked in the Uniswap liquidity pool. This ensures that traders can easily buy and sell DCOIN through popular wallets like MetaMask and Trust Wallet, with no hidden fees involved.

“Dogcoin offers a chance to be part of a truly community-powered project. It’s more than just a token; it’s a movement for fun, opportunity, and long-term growth,” the team noted.

Dogcoin’s journey is one to watch, as it shows the potential for innovation in a space often dominated by hype rather than substance.