#Dogs is a new cryptocurrency launched in August 2024, and is a meme coin, inspired by a mascot called “Spotty” created by Pavel Durov, the founder of the Telegram app. The main goal of the coin is to support the Telegram community, with 81% of the total supply allocated to support users without a lock-in period.
Currency details:
• Total supply: 550 billion coins, of which 94% are already in circulation.
• Current price: At launch it was around $0.001528 per coin.
-The main meaning behind this currency is to enhance the connection between users and reinvest the proceeds in charitable works such as supporting orphanages-
-Additional information about it-
1. Distribution and Community: 73% of the total supply was allocated to Telegram’s legacy users, reinforcing its role as a currency geared towards active users. The currency was launched on five centralized exchanges (such as #Binance and #BYBIT ) on August 26, 2024.
2. Price: At launch, the price was around $0.001528, and it traded over $2 billion on the first day. However, the coin saw a 25% drop after launch as a result of early investors making profits.
3. Technology and Infrastructure: The currency operates on the $TON network, and the infrastructure of this network experienced tremendous pressure after the launch of the currency, as the high demand for it caused the production of blocks on the TON network to stop twice in the first days of the launch.
4. Disadvantages: The currency is highly dependent on the #Telegram community, making it vulnerable to the risks associated with a single platform. The lack of transparency about future plans also adds to the uncertainty about its future.
- Will we notice an increase in the price of the #DOGSCommunity currency in the coming days?
It is difficult to predict an exact percentage increase in the price of DOGS as it is a new coin and subject to market fluctuations. Meme coins, such as DOGS, rely heavily on community interest and momentary popularity, and often experience significant price fluctuations. There are a few factors that may affect their increase:
1. Increased community demand: With a large user base on Telegram, if the community interest in the coin continues, it could lead to a spike in price. For example, there have been previous cases of meme coins like Dogecoin and Shiba Inu seeing huge price increases due to sudden community demand.
2. Charitable nature: If the project continues to promote charitable aspects and attract social investors, this may help maintain relative stability and increase over time.
3. Market Volatility: Meme coins often experience sharp spikes followed by sharp declines. DOGS is likely to experience sudden increases, which may reach tens or even hundreds of percent in a short period if interest increases, but they can be followed by similar declines.
4. Future Events: Any new updates from the TON community or technical improvements that may positively impact the price of the coin.
In short, if the current interest in the coin continues, it could see increases of 50% to 200% or more in the short term, but that depends on several uncertain factors, including societal volatility and the cryptocurrency market in general.
Investing in DOGS depends on several factors that must be taken into consideration:
Advantages of investing in DOGS:
1. Strong community support: The currency relies heavily on the Telegram community, which gives it a huge user base and social power, as most of the currency has been distributed to users, reducing the influence of large investors or “whales” on the currency price.
2. Charitable stamp: A portion of the proceeds is allocated to support charitable works such as orphanages, which may attract investors who care about humanitarian aspects.
3. Rapid popularity: The currency witnessed a huge demand that led to a significant increase in transactions immediately after its launch, which shows the wide interest in it.
Investment risks:
1. Price Volatility: Like many meme coins, DOGS is prone to significant price fluctuations. After launch, the coin saw a 25% drop due to quick profits from early investors.
2. Dependence on Telegram: Since the currency is heavily tied to one platform, any changes in the popularity or performance of Telegram could significantly impact the value of the currency.
3. Unproven Technology: The TON network experienced massive downtime and outages due to heavy usage after the launch of the currency, which may indicate potential technical challenges in the long run.
Recommendation:
• For investors interested in high risk and high reward: If you are willing to tolerate high volatility and take the risks associated with meme coins, investing in DOGS could be a good opportunity. Especially if you are part of the Telegram community or want to support charitable projects.
