The crypto market includes several competitive meme coins. In any case, during the month of June some tokens showed controversial performances. One of them is BEERCOIN.
In fact, this crypto shows a clear collapse in market value. A considerable decline which however follows a bullish trend very substantial, which therefore produced profit margins for traders who applied the right market strategy.
In any case, remaining in the context of meme coins, another crypto project is emerging. It’s about Basic Dawgzan initiative that includes the presale of the DAWGZ utility token, a very promising multi-chain meme coin.
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The BEERCOIN pump & dump
After a period of explosive gains, BEERCOIN (BEER) has suffered a drastic collapse. The meme coin, which had captured the attention of retail traders and generated considerable hype on social media, has fallen by more than 60% over the past seven days, stabilizing around $0.00018.
BEERCOIN’s journey began with a Successful launch on Solana-based DEXs at the end of May, which saw its value increase by more than 6,300% in the following three weeks, bringing the market capitalization to a high of $300 million. However, the euphoria was short-lived.
This week, BEER saw significant profit-taking by investors, causing the price to plummet. Spot trading volumes fell 40% to $111 million in the last 24 hours, indicating a decline in interest.
Furthermore, technical analysis shows that BEER is forming a bear flag pattern on the 4-hour chartsuggesting a possible further price decline in the near term.
One of the most worrying aspects of the BEERCOIN collapse is related to accusations of market manipulation by a cryptocurrency whale.
The blockchain tracker Lookonchain reported that a large holder systematically sold large quantities of BEER to drive down the price, scaring small investors who sold in panic.
This whale then bought back the tokens at a lower price, creating a new wave of FOMO (fear of missing out on an opportunity). This pump-and-dump cycle it drained millions from the pockets of BEER holders, leading to further sales and losses.
Despite denials from the BEER team regarding their participation in the mass sale, the situation highlighted the risks associated with investing in meme coins. Extreme volatility and the possibility of market manipulation make these investments highly speculative and dangerous for small investors.
The story of BEERCOIN serves as a warning to those who venture into the world of cryptocurrencies without a clear understanding of the risks involved. In any case, this case is certainly not emblematic as there are several projects that can produce profit margins. An example could be the new presale crypto Basic Dawgz.
Basic Dawgz (DAWGZ)
Base Dawgz, a new meme coin built on Coinbase’s Base Layer-2 blockchain, recently raised over $1.6 million during the presale.
The token DAWGZ, native to Base, boasts notable interoperability being compatible with Ethereum, Solana, Binance Smart Chain and Avalanche. This feature ensures broad accessibility to traders and promises significant potential growth after listing on exchanges.
During the presale, DAWGZ price is set at $0.00502a discounted value compared to the future list price, and the expected price increase in the coming days invites investors to act quickly.
The choice of Basic blockchain as the primary location for Base Dawgz is strategic, as Base currently has a total value locked (TVL) of $1.65 billion, making it the seventh largest blockchain network.
Furthermore, the presence of other successful meme coins on Base, such as BRETT with a market capitalization of $1.4 billion, further strengthens investor confidence in DAWGZ’s potential.
A distinctive aspect of the Base mascot Dawgz is his ability to “base jump” across five major blockchains. This narrative therefore expresses the utilities main of the token, which could attract many users to bet on DAWGZ.
Traders can move liquidity between Ethereum, Base and other blockchains efficiently and with low fees. This five-chain bridging functionality makes DAWGZ particularly attractive to investors, regardless of the comparative success of different blockchain networks.
Furthermore, the Base Dawgz presale is further enriched by an innovative system share-to-earn rewardswhich incentivizes investors to promote the project on social media.
By linking their X accounts, investors can gEarn extra tokens by resharing Base Dawgz content. Furthermore, those who convince friends and family to participate in the presale receive a 10% reduction on their USDT purchase.
In addition, influential analysts in the crypto world have proposed reviews on DAWGZ, carefully evaluating the market offer proposed by the developers of this cross-chain ecosystem.
The pre-sale offers only 20% of the total token supply, with the remainder earmarked for staking rewards and community rewards, incentivizing early and broad participation.
Overall, Base Dawgz therefore represents a promising opportunity for investors looking for new meme coins with high growth potential and solid cross-chain interoperability.
To get a guide to purchasing DAWGZ tokens during the presale, also read “How to buy Base Dawgz”.
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