DOGS memecoin experienced a significant drop of 23.77% after its listing on Binance on August 26, 2024, despite initial social media hype and coinciding with International Dog Day. The memecoin, which was expected to surge due to Binance's large trading volume, faced a sharp decline to $0.00128, defying common trends of immediate post-launch surges. This decline has raised concerns about its future prospects, with a total of $6.92 million in liquidations recorded, indicating a lack of investor confidence and market uncertainty. The market's indifference is further highlighted by mixed OI-Weighted Funding Rates, suggesting potential further declines or a possible recovery to resistance levels.
DOGS memecoin experienced a significant drop of 23.77% after its listing on Binance on August 26, 2024, despite initial social media hype and coinciding with International Dog Day. The memecoin, which was expected to surge due to Binance's large trading volume, faced a sharp decline to $0.00128, defying common trends of immediate post-launch surges. This decline has raised concerns about its future prospects, with a total of $6.92 million in liquidations recorded, indicating a lack of investor confidence and market uncertainty. The market's indifference is further highlighted by mixed OI-Weighted Funding Rates, suggesting potential further declines or a possible recovery to resistance levels.