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The Dogs Coin crypto community made an exciting announcement about the listing of $DOGS token on August 20th on 15 major cryptocurrency exchanges including Budget, OKEx, and Bybit but the latest announcement from DOGS is that the listing has been postponed until August 26th, 2024.
They also announced a 400 billion DOG token airdrop on the same date. This created a buzz among $DOGS token enthusiasts in Nigeria who wanted to know what the price range would be and what its exchange rate would be with Naira and USD.
$DOGS Listing: Big Opportunity in the Meme Coin Market
Citing a Crypto Times report, this listing event is a major step forward for the DOGS token as it will increase the coin's visibility in the rapidly growing meme coin market, allowing it to reach a wider audience.
The fact that DOGS is highlighted in the ‘Innovation and MEME Zone’ highlights its potential as a prominent and interesting project in the Bitcoin space.
Nigeria is one of the leading countries with a lot of interest and expectations for this token. Moreover, Nigerians are very enthusiastic about the Telegram-based tap-to-earn project because of the several lucrative opportunities it offers.
Nigerians have been tapping and hoping to tap their screens for dollars or naira with platforms ranging from Blum to Hamster Kombat, Notcoin and TapSwap.
According to Crypto Times, over 42.2 million users are eligible to claim the airdrop, with an average of 9,500 DOGS per claim. According to the tokenomics released on Telegram:
Total supply: 1 trillion tokens
Tokens in circulation: 400 billion tokens
Distribution: 40% for airdrop, 20% for team, 20% for marketing, and 20% for reserves
Additionally, $DOGS will introduce on-chain stickers that can be traded and minted in the coming weeks.
Tokens can be claimed to non-custodial wallets starting August 26, but users will need Toncoin to pay for gas fees associated with blockchain transactions.
Before claiming their $DOGS tokens, users must ensure they have enough Toncoin in their wallet. Toncoin can be purchased using Stars or through an exchange.
With $DOGS gaining traction with news of a possible airdrop listing, analysts have speculated that its price will hover around $0.00055.
This starting point will consider the level of accessibility to early adopters and what the token is believed to be capable of.
In the early days of listing, $DOGS may experience significant volatility. Therefore, if all goes well, the popularity can increase $DOGS to $0.00825 per unit, increasing its value up to 15 times from the beginning.
However, if there is some sort of price correction after the initial surge, then the cryptocurrency may experience a pullback to around $0.0004125, and that is when those who were among the first to cash out their profits.
The drop represents about 25% against the initial figure, which is a normal movement in the crypto market with high price swings.
If the hypothetical $DOGS drop is followed through, market observers speculate that it could reach a new equilibrium around $0.0020625.
This price point still represents a significant gain over the initial offering and could attract more investors who initially didn't join in the excitement.
Many Nigerians interested in this launch are more interested in the token price equivalent in USD to NGN (Naira).
With one $DOGS being worth 0.055 cents, a fraction of a US cent, and an anticipated launch price of $0.00055, at the current exchange rate of 1600 to $1, Nigerians will earn 0.088 in Nigerian Naira per $DOGS airdrop token.
Therefore, if its value increases to $0.00825, Nigerians will likely earn ₦13.2 per dollar.
Overall, the launch of $DOGS marks an evolutionary stage for meme coins, especially loved by Nigerian crypto-enthusiasts.
For Nigerians, speculative price indications suggest significant financial opportunities, especially if $DOGS experiences an upward trend in the first few weeks after listing.
However, it is important to be cautious when it comes to crypto. That said, the success of the $DOGS token largely depends on continued community engagement, market decisions, and the project’s ability to deliver on its promises.