On August 8, cryptocurrency exchange MEXC announced the Wrapped Dog (WDOG) listing in its Assessment Zone. Deposits are now open, and trading for the WDOG/USDT pair will commence at 10:00 UTC today. Withdrawals for traders will be available starting at 10:00 UTC tomorrow, August 13.
🚨#MEXC New Listing Alert!
📈 $WDOG /USDT will be listed in the Assessment Zone on 2024-08-12 10:00 (UTC).#WrappedDog is a meme coin on the Solana chain.
Details: https://t.co/IDB9mXG1nd pic.twitter.com/CNHhlRaLC4
— MEXC (@MEXC_Official) August 12, 2024
Meanwhile, MEXC warns that prices of tokens in the Assessment Zone may fluctuate greatly and advises awareness of the risks of delisting.
Wrapped Dog can also be traded on Raydium, Meteora VD, CoinEx, and other exchanges. According to CoinGecko, the token is currently trading for $0.01825 and has seen a 46.1% increase in the last 24 hours. WDOG reached an all-time high of $0.02305 on August 7.
Wrapped Dog might be a high-risk project
“Wrapped Dog” is a project without a social media presence and no known developer team behind it. According to its website, it is fully community-driven. Additionally, it claims to be the first decentralized memecoin on the Solana blockchain. The project claims to offer affordable, high-speed transactions and robust security to ensure a safe and user-friendly experience.
The meme coin’s description is overly generic. WDOG is said to embody “the viral and playful nature that has made meme coins popular with crypto fans, facilitating an engaged, vibrant user base.”
The project’s total self-reported supply is 1,000,000,000 WDOG, and its unverified market cap is $17.35 million. It launched less than a week ago.
WDOG price prediction
There are no technical indicators to base a prediction on because this project is very new. There isn’t even a 10-day moving average because the coin hasn’t existed for ten days. As per CMC, its price is increasing, topping 46% gains. It is also among the top 10 trending projects on Dexscreener.
Being listed on a popular exchange like MEXC generally increases a token’s visibility and trading volume. A potential influx of buyers can push the price higher. After a significant price increase, some investors might decide to take profits, leading to selling pressure that could cause the price to stabilize or decrease.
The crypto market is even more volatile than usual today. A continued decline in the overall market will affect WDOG’s price regardless of its individual performance. Other factors include hype and the number of tokens entering the market. If the MEXC listing is the only reason for the increase, we can’t expect the rise to sustain.
