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Base’s first multichain token Base Dawgz ($DAWGZ) launched on decentralized exchanges today.
$DAWGZ debuted on DEX at 18:00 CET and in its first few minutes on the open market has shown its bullish intent, although succumbed to profit-taking.
The base-jumping coin launches with independent token contracts for the Base and Solana chains, providing traders with a choice of two liquidity pools.
$DAWGZ’s price on the main Base ETH pair reached $0.005610 within the first minutes of trading. The SOL pair can be found over at Dexscreener.
After the initial sell-off, an emphatic buyback is expected to kick in. All presale buyers received their tokens via an airdrop to their EVM or SOL wallet, depending on which version of $DAWGZ they bought.
Presale buyers may be looking to average-down their initial purchase price, while new entrants are likely to be attracted by the prospect of a solid rebound from current prices around the $0.0023 mark.
After raising $3,358,012 in its presale, the launch has been highly anticipated because of its unique interoperability features.
Get prepped for the $DAWGZ launch:
— Base Dawgz (@BaseDawgz) September 5, 2024
Solana:
If you joined via Solana your tokens will be airdropped to your wallet on the Solana chain.
EVM chains:
If you joined 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
Strong Staking Activity Signals Long-Term Commitment To $DAWGZ
Meanwhile, helping to dampen any emerging selling pressure at launch is the 39.9% of tokens sold at presale that have been staked. In order to earn rewards stakers must not move or trade their tokens during the seven-day lock period.
Presale buyers were able to stake on both the Base and Solana chains, but post-launch staking is only available on Base.
Aside from the two liquidity pools, the token’s core functionality is its multichain utility. $DAWGZ uses Wormhole and Portal Bridge technology to enable multichain functionality, which means it can be traded across Base, Ethereum, Solana, Avalanche, and BNB Smart Chain (BSC).
Despite nervousness in the broader crypto market, Base Dawgz is exhibiting robust price action, likely due to its strong feature set and choice of home chain Base, which has been growing in popularity in the crypto space.
The total valued locked (TVL) on the Base chain $1.468 billion. However, the impressive headline figure is far from the whole story.
Launched by top US-based exchange Coinbase in August 2023, Base is an Ethereum Layer 2 that has been well received by market participants.
Over its short lifecycle, it has proven to be one of the strongest performing chains in terms of TVL, which has consolidated around current levels whereas many other chains have lost value.
With coins such as BRETT lighting up the ether, Base has secured its place among the top chains by trading volume. This means Base Dawgz has made a smart move by electing to make Base its home chain. Visibility on Base for this new meme coin sporting a unique design proposition explains why the chatter has already been intense and is set to grow.
In August alone trading volume stood at $16.7 billion, placing the chain fifth in the rankings with Ethereum in first place on $52 billion.
Furthermore, because of its multichain design, by buying $DAWGZ traders have easy access to Solana ($42 billion trading volume in August) BNB Chain ($20.6 billion), and of course Ethereum.
$DAWGZ Poised To Become Leading Dog Meme Coin On Base – Here’s How $500 Can Become $41,670
Since its creation, the Base network has assembled a standout collection of meme coins.
Crypto data site CoinGecko ranks Brett ($BRETT) seventh with a market capitalization of $701.9 million. Brett is the Base meme coin to catch.
Those who purchased BRETT at its all-time low six months ago will today enjoy a return of 8,234%, despite the retracement in valuations over the past couple of weeks.
Also, bear in mind that BRETT is 63% off its all-time high of $0.1933 compared to $0.0708. That suggests early buyers in high-profile Base meme coins like BRETT, and probably $DAWGZ too, will have lots of wiggle room to secure outsized alpha, even if the current general market weakness persists.
The soft market is also a blessing of sorts for new entrants to the Base category. New buyers will be hunting for bargains and with 8,000%-plus gains a real possibility for a successful meme coin, there is every reason to allocate some funds to $DAWGZ.
Breaking that down into dollars, a $500 investment would have been transformed into $41,670.
Base Lacks Serious Dog Meme Coins – $DAWGZ Fills The Gap
Interestingly, the Base network’s meme coin roster is light on dog-themed tokens – and that’s very good news for $DAWGZ. There are none in the top 10, as compiled by Coinmarketcap.
By way of comparison, Solana’s top two meme coins are dog-themed tokens – DogWifHat ($WIF) and Bonk ($BONK).
Put simply, until now, there has been no serious Shiba Inu token prowling the Base ecosystem for the community to support.
For sure there are the easy-meme-coin-creation platforms such as base.fun – the Base equivalent of pump.fun. But there are striking signs that the market is tiring of such low-quality offerings, helping the likes of high-utility Base Dawgz to stand out from the crowd.
Sinking funds into a throwaway meme coin at this point is folly. However, $DAWGZ is an entirely different breed that is surely near the top of the watchlist of many savvy meme coin trading sophisticates.
As we have seen, the multichain token’s extensive reach provides it with access to abundant liquidity, a killer advantage over tokens limited to single chains.
When markets dip and the tide goes out, it makes it easier to see which assets and coins are the strongest. Base Dawgz today is showing it can stand tall while others wilt.
Join up on X and Telegram to keep in the loop on the latest news from the project because as the value of $DAWGZ rises over the next few weeks, it could be jumping into the arms of some top centralized exchanges. Don’t miss out on this ride to the moon.
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