$DOGS info:
Current Price: $0.00125
Expected Price till the end of 2024: $0.03
Circulating Supply: 516.75B
Total / Maximum Supply: 550B
Market Dominance: 0.0292%
Market Cap: $687M
Launch Review
The launch of a new meme coin called "DOGS" on centralized exchanges has caught attention. DWF Labs is backing this coin, which could lead to significant price volatility. Within just over an hour, "DOGS" has already reached a trading volume of $415 million, with a market cap of $645 million and a fully diluted market cap of $690 million. However, given the already high market cap, I believe the potential for a 10x price increase is limited.
Expectations
I expect an initial price drop as people sell off their airdropped tokens, similar to the launch of $NOT Coin. However, I believe the price will eventually find a stable base and then rise. Currently, the market seems to be in "summer mode," and I don't think we've seen the full impact of retail volume yet.
Recommendations
Given the high market cap and anticipated initial dump, I advise staying away from "DOGS" for now. It may be wise to wait for the price to consolidate and for retail volume to increase before considering a purchase. Additionally, the gradual release of the claim functionality for the airdropped tokens could help stabilize the price.
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