SHIB Down 17% But this New Doge-Inspired Meme Coin Breaks the $1 Million Milestone - Can Base Dawgz Overcome Shiba Inu?
What you need to know:
- Shiba Inu has had drastic price drops in the last week – this new presale holds the potential to 100x your returns
The crypto market is currently experiencing a significant downturn, with all major coins trading in the red. This widespread decline has impacted a variety of cryptocurrencies, particularly Shiba Inu and other dog-themed coins.
Shiba Inu has recorded substantial value decreases, trading 15% lower than its price just a week ago. This sharp decline highlights the bearish territory that the market is currently in.
However, you shouldn’t lose hope as there is still room for profits. This new presale project holds the potential to skyrocket your portfolio – Base Dawgz ($DAWGZ).
Let’s check out the details below.
Shiba Inu is Facing Significant Obstacles In the Bear Market – Can This Project Be the Next Best Dog-Themed Coin?
Shiba Inu has seen a notable decline in its price, staying in the red for seven consecutive days. This drop is part of a larger downward trend affecting the entire cryptocurrency market, influencing many digital currencies, including Shiba Inu.
One of the factors is that there have been significant transfers of SHIB tokens by whale accounts—those holding large amounts of the cryptocurrency.
These large movements often signal potential sell-offs, as these account holders might be cashing out their holdings. Such sell-offs can push additional downward pressure on the price, further contributing to the decline.
Also, another key reason for this trend is the reduced trading volume of SHIB, indicating lower market activity and a drop in investor interest. When trading volumes decrease, it typically means fewer transactions are taking place, which can affect the price negatively as the market momentum weakens
Adding to these challenges is the rise in fraudulent websites pretending to be the official Shiba Inu site. These scams aim to steal users' funds, creating more uncertainty and fear among investors. This fraudulent activity not only affects the confidence of existing investors but also deters potential new investors from entering the market, adding to the volatility and instability of SHIB's price.
Despite all this, the new Base Dawgz ($DAWGZ) project is on the rise and it’s promising to surpass Shiba Inu once it launches.
Let’s check it out below.
Base Dawgz ($DAWGZ) Capitalizes on The Multiple Blockchain Interoperability Further Fueling The Hype Around This Project
Base Dawgz ($DAWGZ) is an innovative dog-themed project featuring a multi-chain capability. While its primary blockchain is Base, it also operates on Ethereum, Solana, Binance Smart Chain, and Avalanche.
This multi-chain approach significantly enhances the project's reach and utility, allowing users to benefit from the strengths of multiple blockchains.
One major advantage of this interoperability is increased flexibility for users. They can choose the blockchain that best suits their needs, whether it's for lower transaction fees, faster processing times, or greater security features. This flexibility not only broadens the potential user base but also makes the platform more resilient to issues specific to any single blockchain.
On top of that, multi-chain compatibility enhances the project's scalability. As Base Dawgz can operate on various blockchains, it can handle a higher volume of transactions without suffering from congestion, ensuring smoother and faster operations. This makes the platform more attractive to both individual investors and institutional users.
Base Dawgz has already shown significant success since its ICO launch on May 30th, raising over $1.2 million in fundraising. At the time of writing, the $DAWGZ token is priced at $0.00502 per token. This price is expected to increase as the presale progresses through its phases, with each phase bringing a price hike.
The Project Boasts an Innovative ‘’Share-to-Earn’’ Approach - Boosting Community Engagement With Token Rewards
The Base Dawgz project has introduced a unique Share2Earn model, setting it apart from other initiatives. With this model, users who consistently create and share content related to Base Dawgz are rewarded with points. These points can later be redeemed for $DAWGZ tokens, creating a direct incentive for active participation.
This approach not only enhances community engagement but also solidifies the support base for the project. It effectively serves as a marketing tool, as the increasing amount of shared content helps spread awareness about Base Dawgz.
At present, Base Dawgz boasts over 3,000 followers on X (formerly known as Twitter) and 1,600 subscribers on Telegram. These numbers are expected to grow significantly as the presale continues, thanks to the Share2Earn model's ability to boost visibility and attract new users.
The team behind Base Dawgz maintains an active presence on social media, regularly posting updates about plans, events, and milestones. This consistent communication keeps the community informed and engaged, fostering a sense of connection and involvement.
The project's success can also be attributed to its straightforward and transparent tokenomics. Out of the total supply of 8.45 billion tokens, 20% is allocated for the presale, another 20% for staking, 20% for liquidity, 15% for marketing, 15% for $DAWGZ rewards, and 10% for listings. This clear distribution plan ensures that the project is well-funded and that there are incentives for all stakeholders involved.
The Bottom Line
The crypto market isn’t looking too good as all coins are facing troubles with their prices plummeting in the last 7 days.
Even though many investors were hoping for a bull run, all these factors are an indicator that we are at the start of a much-unwanted bear market.
Dog-themed coins are having it the worst right now, specifically Shiba Inu whose value has massively dropped in this period.
Despite all this, there are still significant profits to be made with this niche. The new presale Base Dawgz ($DAWGZ) holds the potential to make up for all losses.
With its multi-chain technology, Share2Earn features, and an already promising presale, this is a must-have coin for all investors!
