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DOG Meme Coin Price Surge: Could It Trigger a Rally Above $0.01? Listing on Bybit

In the last 24 hours, the Bitcoin-based meme coin, DOG-GO-TO-THE-MOON, has surged by over 20%, reaching a peak of $0.0095. This rally has pushed its market cap closer to $1 billion. The daily trading volume has also skyrocketed by more than 150%, nearing $90 million.

Dog.go.to.the.moon Price Rally

DOG•GO•TO•THE•MOON, commonly known as DOG, launched on April 24, 2024, leveraging the innovative Runes protocol. Its rapid rise to prominence has made it the most traded token on the Runes platform.

The surge in DOG’s value is largely attributed to a well-executed airdrop campaign. On its launch day, developers distributed 100 billion DOG tokens to over 75,000 holders of the prestigious Runestone Ordinal NFTs. This strategy significantly boosted DOG’s valuation and established it as a key asset within the Runes ecosystem.

DOG operates within the Runes Protocol on the Bitcoin network, enabling smooth trading across Bitcoin Layer 1, Bitcoin Layer 2 solutions, and various centralized exchanges (CEXs).

Future Outlook for DOG

The hourly price chart for DOG shows that the cryptocurrency is attempting to hold its immediate support line. Bullish investors are hopeful for a recovery, anticipating that if DOG maintains momentum above $0.0084, it could spark a rally towards $0.01.

However, if the bulls are unable to sustain this momentum, DOG’s price might drop below the support line at $0.0064, potentially initiating a bearish trend towards $0.0045. The coming hours are critical in determining the direction of DOG’s price movement.

Leonidas, the developer behind Ordinals, has suggested that even Satoshi Nakamoto might be aware of the current meme coin craze. If DOG reaches the ten-digit market cap club, it will join the ranks of other prominent meme coins like Solana-powered BONK, Floki, and Pepe.

Conclusion

The next few hours will be crucial in determining whether DOG can maintain its upward trajectory or if it will face a downturn. Investors are keenly watching to see if DOG can break through the $0.01 barrier, solidifying its place among top meme coins.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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