A developer specializing in Bitcoin Ordinals is pursuing a listing for DOG•GO•TO•THE•MOON (DOG) on Binance. This meme coin is created through the Ordinals protocol, and the developer has included some intriguing warnings directed at the exchange in their request.
This appeal, along with robust community backing for DOG, has garnered significant attention in the market, particularly as DOG’s value has surged by 62% over the past week. Here’s what you need to know.
Developer Urges Binance to Embrace the Coin
Leonidas, a proponent of Bitcoin Ordinals and the host of The Ordinal Show, took to X to call for Binance to list DOG-GO-TO-THE-MOON. He emphasized in his post that this token holds the title of the leading meme coin on the Bitcoin network.
Developed through the Ordinals and Runes protocols, it facilitates the minting of fungible tokens on Bitcoin. However, Leonidas’ appeal included some carefully crafted “advice” for Binance.
“If you choose to list DOG, the #1 meme coin on Bitcoin, we would wholeheartedly support this decision. However, we will not pay your listing fee or provide market makers. Should you decide against listing DOG, we will not be able to help you justify to your users why you’ve opted to list corporate testnet meme coins that have seen a decline this month instead of listing the premier meme coin on the largest blockchain in the world, which is on the rise this month,” wrote Leonidas on X.
As of now, DOG’s price stands at $0.0040. While this reflects a 5% dip in the last 24 hours, it marks a 62% increase over the previous week. Following these developments, the weighted sentiment surrounding Bitcoin-based meme coins has surged.
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This uptick in sentiment reflects an increase in favorable comments surrounding the cryptocurrency online. If this trend continues, it may lead to heightened demand and price for the meme coin. Concerning the Binance listing request, BeInCrypto discovered another user on X predicting that DOG’s market could soon surpass $400 million.
“The next significant DOG candle could push DOG•GO•TO•THE•MOON to a $750 million market cap,” stated the pseudonymous user MadPunk on X.
Price Forecast for DOG: 84% Rally Feasible
Analyzing the daily chart reveals that DOG had been trading within a descending triangle from the first week of July until September 20. This confined movement hindered the price from reaching near $0.0098.
However, as of now, the meme coin has successfully broken above this triangle. This breakout was pivotal in driving DOG’s price to $0.0042 over the weekend.
Currently, the price has dropped to $0.0040. While the Fibonacci retracement indicator suggests a potential decline to around $0.0037, bullish momentum may prevent it from dipping further.
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If this scenario unfolds, DOG’s price may surge towards $0.0067, especially if the Binance listing is realized. Conversely, if the exchange overlooks the request, the value of the meme coin could plummet to $0.0018.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be construed as financial or investment advice. BeInCrypto strives for accurate, unbiased reporting; however, market conditions may change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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