The launch of Dogs. Yep, this new crypto just hit the centralized exchanges and has already made a splash on several platforms yesterday. Let’s break down how it’s going so far and what we can expect moving forward.
First off, let’s talk numbers. As of now, Dogs has racked up a whopping $415 million in trading volume within just the first hour. That’s pretty wild, right? And it’s likely to hit the $1 to $2 billion mark soon. The market cap is sitting at $645 million, with a fully diluted market cap of around $690 million. For a brand-new meme coin, those figures are pretty high, which could mean limited upside potential.
I know, I know — the title says “10x possible,” but here’s my take: a 10x gain seems pretty unrealistic right now. To hit a 10x, Dogs would need to reach a market cap of $6.45 billion. That’s above major players like Near, Polygon, Litecoin, and others. While Dogs has a strong community backing it and some potential, I don’t think it can reach those lofty heights in the near term.
At the moment, Dogs seems to be holding its value relatively well. But it looks like not everyone has claimed their tokens yet, which is causing a bit of volatility. The team is rolling out the token claim process gradually, so if you haven’t received yours, hang tight. This gradual release might help stabilize the price a bit.
Given the current market, which is still a bit slow due to summer doldrums, I expect to see an initial dip. This has been the pattern with similar launches — like with Notcoin, which saw a drop before gaining momentum. I anticipate we’ll see a drop with Dogs too, followed by a period of consolidation and potential growth.
If we can get some positive movement from related projects, and if retail interest picks up, there’s a chance for a solid rebound and potential price increase. For now, though, I’d be cautious. The market cap is still pretty high, and with the current conditions, it’s more likely we’ll see a bit of a dip before any serious gains.
If you have any questions or want to chat more about this, give this article a clap, follow and comment “Dogs” in the comment section. I’m sure we can have a great discussion about what’s next for Dogs.
