DOGINME Surges 162% After Coinbase Listing
1min read Coinbase’s recent decision to add DOGINME to its roadmap has sparked significant interest and activity within the meme coin market. The inclusion of this meme coin has led to substantial price increases and heightened trading activity, underscoring the influence that meme coins can have on the broader cryptocurrency landscape.
The addition of DOGINME to Coinbase’s platform has resulted in a dramatic surge in its price, with the token experiencing a 162% increase in just 24 hours. This price movement has been accompanied by a notable boost in trading volume, which soared by 246%. The performance of DOGINME has outpaced the overall cryptocurrency market, which has seen a 6% decline over the same period. Over the past week, DOGINME has increased by an incredible 297%, establishing itself as a standout performer against a backdrop of broader market losses.
DOGINME’s recent performance highlights a growing trend in the crypto space, where meme coins can dramatically shift market dynamics with minimal established fundamentals. The token’s success has brought renewed attention to the meme coin sector, which continues to grow despite the volatility in the broader market. The overall Base meme coin sector has seen its market capitalization increase to $1.0 billion, reflecting an 8% uptick in the last 24 hours, while the general meme coin market faced a 0.9% decrease.
Coinbase’s strategic decision to include DOGINME comes on the heels of its recent addition of another Base meme coin, Tokenbot (CLANKER). The company has also featured QCAD (QCAD) but has clarified that this is not an all-encompassing catalog of upcoming listings. The inclusion of these tokens under the Experimental label implies that they may experience low trading volumes and carry associated risks, including price volatility and potential trading order cancellations.
The announcement from coinbase has sparked a competitive response from other exchanges, with BitMart quickly relisting DOGINME shortly after Coinbase’s move. This initiative by Coinbase also coincides with its recent plans to delist certain other community-favored meme coins, including FLOKI, TURBO, and GIGA, raising concerns amongst investors about liquidity and availability in the coming weeks.
In summary, the addition of DOGINME to Coinbase marks a significant milestone for the meme coin sector, showcasing the potential volatility and opportunities that exist within this niche of the market. As the crypto landscape continues to evolve, the performance of DOGINME may offer insights into investor sentiment and engagement with meme-based cryptocurrencies moving forward. With trading activities anticipated to continue surging, stakeholders should approach this evolving area with informed caution.
