OKX, one of the top three crypto trading platforms by volume metrics, announced plans to list DOGS meme coin. The token has social media abuzz, with speculation that it will be another one of Telegram’s success stories.
The token’s name and ticker are both DOGS. The logo features an image resembling Spotty, the mascot created by Telegram founder Pavel Durov for the community.
OKX To List DOGS For Spot Trading
With deposits already open, DOGS will be available on OKX for spot trading beginning August 20 at 12:00 UTC and withdrawals the next day. Meanwhile, USDT-margined DOGS pre-market futures will start at 12:00 UTC on August 19, 2024.
Listings on popular exchanges often positively impact market sentiment toward the concerned token. Increased trading activity and liquidity usually contribute to price stability. This could drive up the value of the DOGS meme coin in the long run.
However, some of the gains already made could be wiped out once it launches. This would be in a typical ‘buy the rumor, sell the news’ situation. Investors should brace for such an outcome as hype around DOGS builds.
Read more: 12 Best Decentralized Exchanges for 2024
Crypto markets are buzzing about the token, partly due to its listing, but also because of its integration with the Telegram blockchain, a key factor as the messaging platform advances its Web3 initiatives.
Details about DOGS’ tokenomics are still unclear. However, the team has confirmed a fixed supply, no lock-up periods, majority community ownership, and additional utility within the Telegram ecosystem.
Whether DOGS will join the ranks of Telegram’s successful projects remains to be seen. Previous projects like Notcoin, Hamster Kombat, and Catizen went viral.
Read more: Top 7 Telegram Tap-to-Earn Games to Play in 2024
Historically, community-driven meme coins have demonstrated remarkable price action, with Ethereum’s Pepe (PEPE) and Solana’s Dogwifhat (WIF) standing out as notable examples. DOGS is already showing similar momentum, gaining popularity on X (formerly Twitter) and within a Telegram community boasting over 14.8 million subscribers.
“Pegged as the most Telegram-native memecoin, DOGS seems to have taken the TON ecosystem by storm. It has garnered a massive following despite only being a few weeks old,” OKX noted.
However, since meme coins often mirror broader market sentiment, another market downturn could negatively impact DOGS’ price.
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Source: https://beincrypto.com/okx-to-list-meme-coin-dogs/