Dogs withstood the selling pressure and started to rise. How much can it rise to?
The total amount of 550 billion dogs spot was listed on multiple exchanges on the 26th.
Because the number of airdrops to users by the project party of this coin reached 70% of the total amount, and there was no lock-up at all, the coin was subject to a large selling pressure on the listing day.
In addition, the listing of this coin on the Japanese yen market caused market panic due to the sale of ETH by the Ethereum Foundation on the 24th and the transfer of 30,000 BTC to Binance on the 27th, so the price of dogs did not show the soaring momentum of most popular currencies.
However, after withstanding the selling pressure and the related negative news of ETH and BTC, the popular currency dogs finally started to rise.
How much can this coin rise this time?
I think we can refer to the increase of some popular meme currencies in the past.
Previously, several popular meme coins on SOLana could rise to about 3 billion US dollars in a short period of time within a few days of their launch. Compared with those currencies, dogs is even more popular than them.
However, there are many other factors that determine the short-term price of a currency besides popularity, such as market sentiment. Obviously, the overall market sentiment in the past two days cannot be compared with the meme currency on Solana.
In view of this, I personally think that in the short term, the total market value of dogs will hardly reach 3 billion US dollars. According to this logic, the current price of a single coin of dogs will hardly exceed 3 cents of RMB.
Some people may think that this price is too low, because most people who buy a single number may only get about 800 RMB.
However, this price is actually not low. Look, isn’t there a studio that has bought hundreds of millions of dogs?
If the number of dogs reaches 100 million, the income will become 100 million*0.03 yuan=3 million yuan?
In this way, the price of 3 cents is actually not low. What is low is the number of dogs you and I buy!
Next, focus on observation
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