One of the newest members of the meme coin space Dogechain (DC) managed to increase 300% just four after its launch. Dogechain managed to rise 300% between Thursday and Monday, rewarding early investors. Following this increase, the token managed to increase by another 25% and maintains its upward momentum.
The meme coin made its debut in the indices at $ 0.0009 and managed to clear a zero the next day. It rose to an all-time high of $0.0009 on Sunday, after rising 300% in four days.
The price increase came at a time when the price of Bitcoin fell below $20,000. As will be remembered, after Federal Reserve Chairman Jerome Powell gave a speech pointing to another rate hike to fight inflation. cryptocurrency There was a big drop in the market.
Why Is Dogechain Price Rising?
Dogechain skyrocketed after the news that it will be listed by leading crypto exchange KuCoin. KuCoin has around 20 million users worldwide and the listing opened the doors of investors to Dogechain, attracting new investors.
Besides listing DC, KuCoin has also created a “carnival prize pool” that allows users to win DC prizes and airdrops. The ‘Dogechain Listing Carnival’ gained more attention and allowed investors to get a head start by earning tokens.
Celebrating #dogechain $DC being listed on #KuCoin: Share a 100 Million $DC Prize Pool!
Activity details: https://t.co/zxOS0qQx0z
🎁 15,000,000 $DC Airdrop 🎁
✅ Follow @kucoincom @DogechainFamily & RT
Complete the gleam tasks to win an equal share of the prize pool! ⬇️⬇️
— KUCOIN (@kucoincom) August 26, 2022
Dogechain was also listed on Gate.io, MEXC Global and LBank on the same day. Of course, the great interest of meme coin in social media and the expectation of investors to enter early and make a profit also triggered the increase in price.
Koinfinans.com As we reported, investors who felt that Dogecoin and Shiba Inu missed the train in their early days prefer to invest in meme coins early, believing they can deliver life-changing gains.
Therefore, all these developments have boosted Dogechain by 300% in four days to an all-time high. However, only time will tell if Dogechain will deliver life-changing gains or trade backwards from here.
At press time, Dogechain was trading at $0.00361106 and was up 19.6% in 24-hour day trading.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.