The meme coin DOGS has just been officially listed on Binance, aaccording to the latest announcement from the exchange. However ,selling DOGS immediately after listing may not be a wise strategy.
Typically, for projects that offer free airdrops to users, such as Notcoin (NOT) or the meme coin DOGS that we are discussing here, a large number of investors tend to sell as soon as they are listed on exchanges. They believe that early selling will help maximize the value of their free airdrop, as the price of these coins usually drops by 3-5 times after listing due to the sell off mentality of those who received the airdrop. However, with DOGS, this strategy may not be as effective as expected.
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For example, in the case of Notcoin, historical price data on Binance shows that it started at $0.00077 and then skyrocketed to $0.037 (a 48-fold increase). The price of NOT then dropped to a low of $0.00452 just a few days later. Although the current price is around $0.01064 at the time of article, NOT has still increased nearly 2.3 times from that low. This means that if you sold NOT immediately after listing, you would have missed out on a significant profit.
In the case of the meme coin DOGS, the scenario could be even more optimistic than with NOT. This is because DOGS has several advantages that NOT did not.
💥 Specifically:
- DOGS is listed on major exchanges, even without ever having disclosed tokenomics.
- DOGS has no token lock-up mechanism or specific vesting period , contrary to traditional practices.
- DOGS appears to have support from Durov (CEO of Telegram) and a large user community, with ownership driven by the community.
However, it should be noted that the price of DOGS may still experience a sell-off phase after being listed on centralized exchanges (CEX), and this is completely normal. The case with NOT was similar.
Therefore, to maximize profits from DOGS, you might consider dividing the DOGS tokens received through the airdrop into three parts and selling them over 3-5 months. This way, you can take advantage of market fluctuations and avoid missing out on significant growth opportunities with this meme coin.
