DOGS sparks high interest in crypto community

The DOGS cryptocurrency, developed on The Open Network (TON) blockchain, is now accessible on Binance as of August 26, 2024, at noon (UTC). Following a successful period on Binance Launchpool,  the token attracted high interest from the crypto community.

DOGS has emerged as a significant meme player in the digital asset industry.  DOGS is now tradeable on several pairs, including DOGS/TRY, DOGS/FDUSD, DOGS/BNB, and DOGS/USDT.

Traders and investors’ interest is rising sharply. The on-chain analytics company, CoinGlass, highlighted that throughout the past 24 hours, DOGS’s open interest has surged by 16,000%, and in the last 4 hours, it has climbed by 35%.

In addition, there may be further pressure to book or sell profits in the following days. Investors who purchased before the CEX listing can sell their tokens, and traders are heavily shorting the market.

Shortly after being listed on well-known exchanges like Binance, OKX, Bybit, and others, the coin had a 25% decline. The DOGS airdrop recipients’ opinions have been divided. While some are pleased with the listed price, others enjoyed the airdrop.

DOGS still has a substantial market capitalization of more than 614 million.  It has established itself as one of the top 100 cryptocurrency assets as of this publication

DOGS began with a trading volume that shot over $630 million. As a result, it came in at number 15 out of all cryptocurrencies. Such market activity reveals traders’ and investors’ interest in the meme coin.

The coin uses a task and reward system to incentivize community involvement and provide incentives. Like other meme coins, DOGS lacks a comprehensive roadmap, but its future development depends on how well its incentive systems work.