The post DOGS Meme Coin Crashes Alongside Toncoin, Bitcoin appeared on BitcoinEthereumNews.com.

DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . The DOGS meme coin is facing significant selling pressure and is down nearly 11% today on Friday.  While the Telegram-based meme coin is still trending on CoinMarketCap alongside Toncoin, the recent decline has sparked concerns amongst investors.  Meanwhile, a new meme coin listing – Base Dawgz (DAWGZ) – is stealing the spotlight. Smart money investors are gearing up for its highly-anticipated launch on September 4th, with some even eyeing 100x returns from it.  DOGS Meme Coin Crashes – Cause For Concern?  DOGS had an explosive debut on Binance, with its price seeing an initial 150% uptick. The meme coin also went live on other top-tier exchanges such as Bybit and Bitget, resulting in a trading volume of over $2 billion on the first day.  Meanwhile, the DOGS airdrop turned out to be such a massive success that it resulted in an outage on the TON blockchain. As per the Tonscan data, over 40 million investors participated in the airdrop.  However, the meme coin has been facing substantial selling pressure since and traded as low as $0.0012, over 20% below its all-time high of $0.00165.  Nevertheless, experts remain bullish on DOGS in the long term.  It isn’t unusual for Binance listings to mark the local top for meme coins. Additionally, the airdrop is also contributing to the selling pressure as the beneficiaries cash out their profits.  Most importantly, the broader crypto market is also showing substantial weakness. The Bitcoin price fell following the PCE data today, with meme coins such as Floki, Popcat and Dogwifhat faring even worse.  In fact, popular crypto trader…

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Filed under: News - @ August 30, 2024 7:25 pm