Base’s first multichain meme coin, Base Dawgz (DAWGZ), launched on DEXs with cross-chain functionality and aims to be the top dog meme coin on the network.
The first multichain token on the Base network, Base Dawgz ($DAWGZ), made its debut on decentralized exchanges today.
$DAWGZ launched on DEXs at 18:00 CET, and in its initial minutes on the market, showed signs of bullish momentum, although some early investors took profits.
Base Dawgz features independent token contracts for both the Base and Solana chains, providing traders with two liquidity pools to choose from.
In the first few moments of trading, $DAWGZ on the Base ETH pair reached a high of $0.005610. On Solana, the token’s pair can be tracked on Dexscreener.
Following the initial sell-off, an anticipated buyback is expected to drive the price upwards. All presale participants received their tokens via airdrops to their respective EVM or Solana wallets, based on which version of $DAWGZ they bought.
Presale investors may look to average down their initial entry price, while new participants could be attracted by the prospect of a solid recovery from current prices around $0.0023.
After successfully raising $3,358,012 during its presale, the launch of $DAWGZ has been highly anticipated due to its unique cross-chain interoperability features.
Staking Surge Reflects Investor Commitment to $DAWGZ
Meanwhile, the 39.9% of presale tokens staked demonstrates investor commitment to $DAWGZ. Stakers must hold their tokens without trading during a seven-day lock period to earn rewards.
Presale buyers had the option to stake on both the Base and Solana chains, but staking is now only available post-launch on the Base network.
Aside from the two liquidity pools, $DAWGZ’s standout feature is its multichain functionality, utilizing Wormhole and Portal Bridge technology. This allows the token to be traded across Base, Ethereum, Solana, Avalanche, and Binance Smart Chain (BSC).
Despite overall market uncertainty, Base Dawgz has shown solid price action, likely due to its robust features and the popularity of its home chain, Base.
Base’s Rising Popularity Provides a Strong Foundation for $DAWGZ
The total value locked (TVL) on the Base chain stands at $1.468 billion, reinforcing its strong performance among newer chains in the crypto space.
Launched by Coinbase in August 2023, Base is an Ethereum Layer 2 network that has been well received by the market. While other chains have seen declines in value, Base has maintained a stable TVL, making it one of the strongest performers in the sector.
Coins like BRETT have further solidified Base’s position, with the network ranking among the top chains by trading volume. In August alone, Base’s trading volume hit $16.7 billion, placing it fifth among blockchain networks, behind Ethereum, which led with $52 billion in trading volume.
The multichain design of $DAWGZ provides traders with easy access to other popular chains like Solana, which recorded $42 billion in August trading volume, and Binance Smart Chain ($20.6 billion), in addition to Ethereum. This extensive reach is a key advantage for $DAWGZ, giving it ample liquidity and visibility across various networks.
$DAWGZ Aims to Become the Top Meme Coin on Base
Since its launch, the Base network has become home to a notable selection of meme coins, but it has been missing a significant dog-themed token—until now. With the arrival of $DAWGZ, the network may finally have a serious contender in the dog meme coin category.
Brett ($BRETT), one of the top meme coins on Base, currently holds a market capitalization of $701.9 million, according to CoinGecko. Early investors who bought BRETT at its lowest point six months ago would have seen returns of over 8,234%, despite recent market corrections. Even with BRETT’s retracement, the token is still 63% below its all-time high, suggesting that early adopters of $DAWGZ could similarly enjoy significant profits as the market recovers.
For new investors, the current market weakness presents an opportunity to enter Base’s meme coin category at a discount. With returns exceeding 8,000% possible for successful meme coins, $DAWGZ presents a compelling case for investment. A hypothetical $500 investment in such a coin could potentially balloon into $41,670.
The Base Network Needs a Top Dog-Themed Meme Coin—and $DAWGZ Fits the Bill
The Base network has so far lacked a prominent dog-themed meme coin, which could give $DAWGZ an edge. In contrast, Solana’s top meme coins, DogWifHat (WIF) and Bonk (BONK), are both dog-themed, showing the popularity of these tokens across networks.
While easy-to-create meme coins flood platforms like base.fun, many of these low-quality offerings are losing appeal among traders. This opens the door for higher-utility tokens like Base Dawgz to stand out in a crowded market.
Investing in throwaway meme coins may be tempting, but $DAWGZ offers something different. As a multichain token, it has access to broader liquidity pools, providing it with a key advantage over single-chain tokens.
During periods of market dips, strong assets and tokens tend to reveal their resilience. Base Dawgz is demonstrating its ability to stand firm while others falter.
INVEST IN $DAWGZ EARLY BEFORE IT BECOMES NEXT 100X CRYPTO
For those looking to stay informed on the latest developments, joining the $DAWGZ community on X (formerly Twitter) and Telegram is a good way to stay in the loop. As $DAWGZ continues to gain traction, it could soon make its way onto top centralized exchanges, giving investors another reason to keep an eye on this promising token.
Don’t miss out on the potential of Base Dawgz as it rides the wave of interest in multichain functionality and meme coin culture.
