A Bitcoin Ordinals developer is seeking a Binance listing for DOG•GO•TO•THE•MOON (DOG), a meme coin built via the Ordinals protocol. However, the developer in question has included some interesting warnings for the exchange in the request.
This particular call, alongside DOG community support, has captured the attention of the market, especially as DOG’s price has increased by 62% in the last seven days. Here’s all you need to know.
Binance Should Go to the Moon with the Coin, Developer Says
Leonidas, a Bitcoin Ordinals advocate and host of The Ordinal Show posted on X asking Binance to List DOG-GO-TO-THE-MOON. In the post, Leonidas noted that the token is the top meme coin on the Bitcoin network.
It was developed through the Ordinals and Runes protocol, which enhances the minting of fungible tokens on Bitcoin. However, Leonidas’ request was interesting and laced with “wise counselling” for Binance.
“If you would like to list DOG, the #1 meme coin on Bitcoin, we would very much be in favor of this however, we will not pay your listing fee or provide market makers. Should you choose not to list DOG, we will not be able to help you explain to your users why you chose to list corporate testnet meme coins that have been down only this month instead of listing the top meme coin on the largest blockchain in the world, which has been up only this month,” Leonidas wrote on X.
Currently, DOG’s price is $0.0040. While this is a 5% decrease in the last 24 hours, it represents a 62% hike since the past week. Following this development, the Weighted Sentiment around the Bitcoin-based meme coins jumped.
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The rise in sentiment indicates an increase in positive comments about the cryptocurrency online. If sustained, this could lead to higher demand and price for the meme coin. Regarding this Binance Listing call, BeInCrypto found another X user saying DOG’s market would be much higher than $400 million soon.
“The next big DOG candle could send DOG•GO•TO•THE•MOON to a $750 million market cap,” pseudonymous user MadPunk said.
DOG Price Prediction: 84% Rally Possible
An assessment of the daily chart shows that DOG traded within a descending triangle between the first week of July and September 20. This range-bound movement ensured that DOG’s price could not hit anywhere near $0.0098.
However, as of this writing, the meme coin has broken above the triangle. This breakout was instrumental in sending DOG to $0.0042 over the weekend.
But as of this writing, the price has declined to $0.0040. While the Fibonacci retracements indicator suggests that the token’s price might drop to $0.0037, bulls might prevent it from going below that value.
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If this happens, DOG’s price could jump and rally toward $0.0067, especially if the Binance listing goes through. But if the exchange fails to heed the call, the meme coin value could plunge to $0.0018.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Victor Olanrewaju
https://beincrypto.com/dog-price-fuels-binance-listing-call/
2024-09-30 20:00:00
