The memecoin industry, currently valued at about $115 billion and a 24-hour average trading volume of about $21 billion, has continued to gain more organic traction in the recent past. Dog-themed Dogcoin (DCOIN), a memecoin project launched on the Ethereum (ETH) network, has registered palpable gains in the past 24 hours backed by a robust online community of investors.
According to the latest market data, DCOIN price was up around 500 percent to trade about $0.00455 on Friday, during the early London session. The small-cap memecoin, with a fully diluted valuation of about $4.5 million, had a 24-hour average traded volume of about $12.3 million, up over 13x.
Top Reasons Why Dogcoin (DCOIN) Has Gained Significant Organic Traction
Already listed on the Biconomy Exchange, the DCOIN memecoin has attracted more than 1.5k on-chain holders. Furthermore, the DCOIN developers did not participate in presale nor team allocations but provided the entire supply of the memecoin to the liquidity pool.
According to market data from Dexscreener, nearly 40 Ethereum (ETH), worth about $130k, has been locked in the liquidity pool on the Uniswap protocol to ensure seamless DeFi trading. Consequently, crypto traders can seamlessly access DCOIN memecoin via top wallets – such as MetaMask and Trust Walley – without any hidden fees.
“Dogcoin offers a chance to be part of a truly community-powered project. It’s more than just a token; it’s a movement for fun, opportunity, and long-term growth,” the team noted.
