Dogs is the meme coin that everyone is watching today. It has pumped over 15% following a listing on Binance.
This occurred amidst a broader market struggle, indicating notable strength against other cryptocurrencies. Will this manifest in more gains for Dogs?
Dogs are thriving today – but traders think there’s a lot more to come.
The new Toncoin-based meme coin is getting off to an explosive start following a listing on Binance.
Investors are pouring in to trade the latest meme coin hype. This is reflected not only in its price action but also because it’s the number one trending cryptocurrency on CoinMarketCap today.
Furthermore, its trading volume is $1.9 billion, making it the most traded meme coin. Pepe is second, with a $739 million trading volume.
Such high trading activity has led to brief network outages on Toncoin and even caused Binance and other exchanges to halt Toncoin deposits and withdrawals.
While not ideal for Dogs and the broader Toncoin ecosystem, it does reflect the new meme coin’s unwavering market interest.
Analysts are bullish about what this all means for Dogs’ future.
Dogs is currently trading at $0.001465, up 15% today but down 8% since its CoinMarketCap launch price. It holds a $756 million market cap.
Analyst The Crypto Tom anticipates a move to $0.0018 shortly.
He notes that DOGS is holding support above an old resistance, which indicates today’s uptrend can continue.
Meanwhile, David Arnal highlights that Dogs’ trading volume well outweighs its market cap, something he deems “Ultra bullish.”
The analyst displayed a price target of $0.0025, marking a 42% rise from its current price.
While the broader crypto market fights to stay afloat, investors are finding shelter in Dogs.
As a new meme coin, it is largely cut off from the dynamics of other cryptocurrencies.
Another new meme coin that traders are pivoting to is Shiba Shootout. It’s currently undergoing a presale, enabling investors to buy in early.
Shiba Shootout is a presale Shiba Inu-themed meme coin emphasizing utility. It has experienced high presale demand, with the total raise surpassing $1 million.
However, the project has already launched a game on the App Store and Google Play Store, likely driving much of its early interest.
The Game, Shiba Sharpshooter, has a “Wild West” theme and is based on skill and timing.
This is the lite version of a Play-to-Earn rendition that will be released later.
In addition, the Shiba Shootout token offers utilities like governance, a lottery, staking, and more.
The staking feature is live, giving investors passive rewards valued at an 895% APY.
With over $1 million raised, top industry analysts have started taking note.
ClayBro highlighted that Shiba Shootout’s early stage presents big potential.
“Guys, a lot of these new cryptocurrencies are not yet well-known… but with these tiny little tokens like Shiba Shootout, because they have low market caps, because they’re unknown, any amount of money flowing in makes them exponentially rise higher in price.”
Currently, the Shiba Shootout presale is ongoing. However, the price will increase over time.
It is currently available at $0.02, but this will rise in four days.
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