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Base’s inaugural multichain token, Base Dawgz ($DAWGZ), made its debut on decentralized exchanges today.
Launched on DEX at 18:00 CET, $DAWGZ demonstrated bullish behavior in its initial moments on the market, although it faced some profit-taking.
The base-jumping token introduces independent token contracts for both the Base and Solana networks, offering traders a selection of two liquidity pools.
Within the first minutes of trading, $DAWGZ’s price on the primary Base ETH pair reached $0.005610. The SOL pair is available on Dexscreener.
Following the initial sell-off, a significant buyback is anticipated. All presale participants received their tokens through an airdrop to their EVM or SOL wallets, depending on which version of $DAWGZ they acquired.
Presale participants may aim to average down their initial purchase price, while new buyers are likely drawn by the potential for a strong recovery from current prices around the $0.0023 level.
Having raised $3,358,012 during its presale, the launch has generated considerable excitement due to its distinctive interoperability features.
Prepare for the $DAWGZ launch:
Solana:
If you participated via Solana, your tokens will be airdropped to your wallet on the Solana chain.
EVM chains:
If you participated via Ethereum, Base, BSC, or AVAX, your tokens will be airdropped on the Base chain. This means you need to:Add Base… pic.twitter.com/4AFAPrqW23
— Base Dawgz (@BaseDawgz) September 5, 2024
Increase in staking indicates commitment to $DAWGZ is not a fleeting trend
In the meantime, the 39.9% of tokens sold during the presale that have been staked helps to mitigate any potential selling pressure at launch. To earn rewards, stakers must refrain from moving or trading their tokens during the seven-day lock period.
Presale participants had the option to stake on both the Base and Solana networks, but post-launch staking is exclusively available on Base.
Beyond the two liquidity pools, the token’s primary feature is its multichain utility. $DAWGZ employs Wormhole and Portal Bridge technology to facilitate multichain functionality, allowing it to be traded across Base, Ethereum, Solana, Avalanche, and BNB Smart Chain (BSC).
Despite uncertainty in the broader crypto market, Base Dawgz is displaying strong price activity, likely due to its robust feature set and the growing popularity of its home chain, Base.
The total value locked (TVL) on the Base chain stands at $1.468 billion. However, this impressive figure does not tell the entire story.
Source: DefiLlama
Launched by the prominent US-based exchange Coinbase in August 2023, Base is an Ethereum Layer 2 that has garnered positive reception from market participants.
Throughout its brief existence, it has emerged as one of the top-performing chains in terms of TVL, which has stabilized around current levels while many other chains have experienced declines.
With coins like BRETT gaining traction, Base has established itself among the leading chains by trading volume. This strategic choice by Base Dawgz to adopt Base as its home chain enhances its visibility, explaining the intense discussions surrounding it and the potential for further growth.
In August alone, trading volume reached $16.7 billion, positioning the chain fifth in the rankings, with Ethereum leading at $52 billion.
Moreover, due to its multichain architecture, purchasing $DAWGZ provides traders with straightforward access to Solana ($42 billion trading volume in August), BNB Chain ($20.6 billion), and, of course, Ethereum.
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$DAWGZ is poised to become the leading meme coin on Base – here’s how $500 can turn into $41,670
Since its inception, the Base network has curated an impressive array of meme coins.
Crypto data platform CoinGecko ranks Brett ($BRETT) seventh, boasting a market capitalization of $701.9 million. Brett is the meme coin to watch on Base.
Those who acquired BRETT at its all-time low six months ago are now enjoying a return of 8,234%, despite recent valuation declines.
Additionally, it is important to note that BRETT is currently 63% below its all-time high of $0.1933, trading at $0.0708. This indicates that early investors in prominent Base meme coins like BRETT, and likely $DAWGZ as well, have substantial opportunities to secure significant returns, even amidst ongoing market weakness.
The current market conditions also present an opportunity for new entrants in the Base category. New investors will be seeking bargains, and with the potential for gains exceeding 8,000% for a successful meme coin, there is ample reason to consider allocating funds to $DAWGZ.
Breaking this down financially, a $500 investment could potentially grow to $41,670.
Base lacks significant dog meme coins – $DAWGZ addresses this gap
Interestingly, the meme coin lineup on the Base network is sparse when it comes to dog-themed tokens, which is advantageous for $DAWGZ. None are present in the top 10, as reported by Coinmarketcap.
In contrast, the top two meme coins on Solana are dog-themed tokens – DogWifHat ($WIF) and Bonk ($BONK).
Simply put, until now, there has been no notable Shiba Inu token within the Base ecosystem for the community to rally behind.
While there are platforms that facilitate easy meme coin creation, such as base.fun, akin to pump.fun, there are clear indications that the market is growing weary of such low-quality offerings, allowing high-utility projects like Base Dawgz to distinguish themselves.
Investing in a disposable meme coin at this juncture is unwise. However, $DAWGZ represents a distinct category that is likely at the forefront of many discerning meme coin traders’ watchlists.
As previously noted, the extensive reach of this multichain token grants it access to ample liquidity, providing a significant advantage over tokens confined to single chains.
During market downturns, it becomes easier to identify which assets and coins are the most resilient. Base Dawgz is currently demonstrating its ability to remain strong while others falter.
Stay connected on X and Telegram for the latest updates from the project, as the value of $DAWGZ is expected to rise in the coming weeks, potentially leading to listings on major centralized exchanges. Don’t miss this opportunity.
Visit Base Dawgz Here
The post Base’s First Multichain Token Base Dawgz (DAWGZ) Launches on DEXs appeared first on Cryptonews.
