In a stunning development for the cryptocurrency industry, Coinbase has now added Doginme ($DOGINME) to its listing roadmap on the Base blockchain. The announcement was heard loud and clear in the market, almost drowning out the aftermath of Bitcoin’s recent dip. While many tokens are still trying to recover from last week’s selloff, $DOGINME surged by 150% on the news and is now at an all-time high. And that’s got some people pretty excited. Here’s a look at how the Coinbase effect is playing out for Doginme, and whether or not it’s likely to keep it surging. The announcement of the DOGINME listing on Coinbase attracts increasing attention to the meme sector. Coinbase’s decision to add this token to its roadmap has become a significant validation point for the project in a market where Bitcoin and Ethereum dominate. Couched in mumbo jumbo as it is, the statement means that new traders and investors are likely to come into the market, drawn by the liquidity and visibility that almost always accompany a Coinbase listing. New Trader Nets Big Gains Following the Coinbase Announcement A notable story that emerged from this announcement is of a trader who made a bold move just before the price surge. This trader, who created a new wallet, spent 51.2 Ethereum (approximately $97,700 at current prices) to purchase 254.66 million $DOGINME tokens yesterday. This transaction occurred just 24 hours before the Coinbase announcement, and it highlights the risk-taking behavior of traders in the meme-coin market and their ability to profit from timely investments. After the announcement that it would be listed, the price of $DOGINME took off, gaining 150% by the time we went to press. As we worked on this story, the 254.66 million tokens we had bought for $97,700 were worth a stunning $205,700. That means we had a paper profit of about $108,000, or 110%, in just one day. If you think that’s picking a bottom, you haven’t even seen the bottom yet. So what is $DOGINME? It’s an Ethereum-based meme coin, in the likes of which more and more seem to be launched every day. But, unlike most of its predecessors, this one seems to be taking off. The investment made by the trader in a timely manner underscores just how volatile the cryptocurrency market can be, especially when it comes to meme coins. Such tokens are quite often the very picture of ups and downs and are driven to price extremes by the not-so-stable hands of those who trade them. And when the trader bought $DOGINME, the hands holding it had just gotten all hyped up because it was about to be listed on Coinbase. The Rise of Meme Coins and Their Impact on the Market In recent years, the broader cryptocurrency ecosystem has embraced meme coins such as $DOGINME. These coins, initially considered speculative and largely a part of social media trend culture, have, due to their community-driven nature, gained a lot of market attention and traction. Tokens such as Dogecoin and Shiba Inu seem to set the stage for the rise of other meme coins. Grassroots support and the kind of viral marketing that fuels the internet and social media almost seem like prerequisites for a new meme coin’s price action. Attracting institutional interest and investment, meme coins have been successful, and more platforms and exchanges are now eyeing them for possible token listings. Coinbase adding $DOGINME to its listing roadmap is a signal that meme coins aren’t a niche play anymore; they’re tent pole assets. Seeing as how investor confidence is already at a high watermark for $DOGINME, and with Coinbase being the respectably large and large respect cryptocurrency exchange that it is, then this can only pour more confidence oil on $DOGINME’s already helio-coptering ascent. Now that $DOGINME is on Coinbase’s roadmap, the token stands to gain a lot from the heightened visibility and access to a much larger crowd of traders and investors. And it could lead to further price appreciation in the days to come. Especially as you can see, the listing is coming into clearer focus. What’s Next for $DOGINME? DOGINME’s market cap keeps growing, but the future of the token is misty at best. We know that, after the announcement of the listing on Coinbase, the price shot up. This is the sort of thing that happens when a token is listed on a major exchange—its value tends to increase. Listing on Coinbase is a big deal, and there is no way to sugarcoat it. However, many tokens have been listed on major exchanges only to lose value later. DOGINME might be one of those tokens. For the Grassroots team behind $DOGINME, securing a spot on Coinbase is a moment of glory, worth celebrating. That’s because getting listed on a cryptocurrency exchange is not only a vote of confidence in the project itself but can also bring about the kinds of changes and improvements to the ecosystem that are the very reasons for its existence. It might be the biggest thing that can happen to a cryptocurrency project. The meme coin market may continue to metamorphose, but $DOGINME seems to have a chance of making it. Following the successful paths charted by Dogecoin and Shiba Inu, $DOGINME could convert to an even more recognizable and adopted entity within the cryptocurrency space. In the long term, however, it may maintain an appearance of relevance mainly because its team has done something with it that has inspired us to talk about it. Coincidentally, this is a description that fits with a lot of meme coins. Conclusion: Timing Is Everything in Crypto The astonishing 150% leap in $DOGINME’s price that followed the announcement of the cryptocurrency’s listing on Coinbase is a stark reminder of how rapidly things can change in the crypto market. And for early investors and traders, the possibility of making well-timed decisions that lead to windfall profits is a real and seemingly ever-present opportunity. Just ask the trader who bought up millions of $DOGINME tokens right before the big news was publicized. The announcement by Coinbase that it will add $DOGINME to its list of future coin additions promises to bring even more validation to the project. That listing may well result in a significant step upward for the $DOGINME project and token. Let’s takes a look at what $DOGINME is all about, why the Coinbase listing is a big deal, and some potential catalysts for price action. Spoiler alert: You probably already know that $DOGINME is a meme coin; what you may not know is some of the details behind this particular meme coin. The cryptocurrency landscape is now evolving ever so rapidly; in this, $DOGINME is capturing the eyes of a much larger audience. We could very well be at a tipping point in these next few weeks for determining whether this will become a long-term player in the crypto market or whether its rise will be but a flash in the pan. Whatever happens, this meme coin has already captured investors’ imaginations in a way that has only a few cryptocurrencies—like Bitcoin and Ethereum—done before. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: jtdee23/ 123RF // Image Effects by Colorcinch
