Dogecoin Holders Flock To This Dog Coin Alternative As Price Crashes 15% in 14 Days

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Tim Hakki

Author

Tim Hakki

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Last updated:

August 13, 2024 22:16 EDT

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The original meme coin Dogecoin ($DOGE) is down bad over the last fortnight. $DOGE holders saw their bags deflate by 15% over the last fourteen days as the world’s favorite meme now changes hands at $0.1052.

This price performance exaggerates that of market leader Bitcoin ($BTC), which sank 8.4% over the period to its current price of $59,924. The bulk of its losses are directly attributable to last Monday’s market-wide crash.

However, Dogecoin’s biggest contenders in the meme coin sector posted bigger losses. Shiba Inu ($SHIB) fell 16% to $0.00001359, while the biggest non-doge meme coin, Pepe ($PEPE), nosedived 28% to $0.000008039.

According to the trading chart, Dogecoin’s descent last Monday pulled its support level down from $0.09 to $0.08. Although it has grown 6% in the last seven days, it’s still short of recapturing $0.14, a threshold at which the meme coin found resistance in July.

With a relative strength index of 30 and falling, Dogecoin is now oversold. However, this indicates that the short-term profit-taking has stopped. There is reasonable ground to suggest buying momentum will pick back up this week as long as the crypto news cycle remains favourable.

From Dogecoin To Base Dawgz, How Meme Coins Are Changing

Investors looking for an exciting Shiba Inu meme coin beyond the “Big Five” of Dogecoin, Shiba Inu, DogWifHat, Floki, and Bonk could diversify their portfolios with the new cross-chain meme coin Base Dawgz ($DAWGZ).

Like Dogecoin, Base Dawgz is another Doge meme coin, this time its primary kennel is on Coinbase’s Ethereum Layer 2, Base, but it’s also compatible with Ethereum, Solana, BNB Chain, Avalanche and Polygon.

This makes it a multi-chain coin with exciting capabilities, unlike the more vanilla DogWifHat, a coin which investors only hold to exploit potential price rises.

$DAWGz launched on June 4, taking in over $200,000 within minutes as investors piled in to snap up a multi-chain meme coin with staking and share-to-earn capabilities. To date, it has raised over $2.9 million as meme coin fans diversify their holdings with this promising presale.

But what is share-to-earn? Simply put, the token’s ingenious marketing strategy puts community members at the core of Base Dawgz’s marketing strategy, thanks to a share-to-earn system that pays out point rewards for sharing $DAWGZ-centric content on social media.

This incentivizes a more loyal meme coin community than $WIF.

Base Dawgz also offers mouth-watering staking rewards of 870%, according to the presale website.

Buy in now to catch this potential stratospheric new meme coin at a fixed pre-launch price of $0.007414.

With multiple purchase options, including popular stablecoins like USDT and USDC, buying in is simple and secure.

However, there is just under a day to purchase the token before it rises to the next fixed presale price.

That means investors better hurry if they want first-mover advantage on a meme coin that has the upward price potential to remove $WIF from the picture.

Check out the Base Dawgz community on X and Telegram.

Buy $DAWGZ here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.