Despite the great controversy surrounding a new meme coin, Dogechain (DC), the cryptocurrency’s value has skyrocketed. Four days after its launch, the value of the new meme coin has increased by over 200 percent. Yesterday, the cryptocurrency hit an all-time high of $0.003992, according to data from CoinMarketCap. The DC coin started trading around $0.0009. It went up to $0.003992 in a few days. Here are the details…
Why did the new meme coin go up?
Missing the massive rally of other meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), investors have hugged DC. Because they saw it as an opportunity to rejoin the meme coin craze. Dogechain’s massive rally came after popular cryptocurrency exchange KuCoin announced that it would list DC on its platform. KuCoin has announced that the cryptocurrency will be launched under the DC/USDT trading pair. He noted that trading will officially begin on August 27, 2022. The exchange also announced an airdrop of 15 million Dogechain tokens for its users.
Similarly, another leading exchange MEXC Global has also listed Dogechain for trading. The listing of Dogechain skyrocketed the cryptocurrency price to an ATH of $0.003992. Even though the price of DC has slumped to $0.003725, enthusiasm for the cryptocurrency is still growing. It’s worth noting that Dogechain has had its fair share of controversy ever since it went live. According to ZachXBT, 20 million units of DC were sent to a cryptocurrency wallet linked to the token’s issuer. The popular cryptocurrency researcher also noted that the wallet started transferring tokens to investors immediately after receiving the funds.
Dogecoin founder rejects $14 million offer
It has also been suggested that Dogecoin founder Billy Marcus was offered $14 million to promote DC. However, Marcus turned down the offer as he was solely affiliated with the Dogecoin project. A user named VEE used the following statements:
Billy was offered to buy 10 billion DC from Dogechain to promote his projects. So 14 MILLION DOLLARS at current price. BillyM2k turned down so much money so as not to betray your community. Therefore, it deserves our respect.
Interestingly, despite these claims, investors don’t seem bothered as they continue to push the price to new highs. It is unclear where the meme coin will go. In general, however, it is worth remembering that such coins are subject to high volatility. For this reason, it would be best for each investor to invest in line with their own research. Finally, you can see DC’s price action from August 26 in the chart below:
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