Cryptocurrency prices were volatile on Saturday, continuing a consolidation pattern that has continued in recent weeks. Bitcoin On Saturday, it was trading at $59,000 but has remained stuck at that level this week. A lack of major news in the industry has also led to volatility in other cryptocurrencies such as Cardano, Solana and BNB token.
Bitcoin Dogs IPO coming soon
What's next for the cryptocurrency industry? Bitcoin Dog The exchange listing comes after what developers said was a difficult phase.
Bitcoin Dogs is a new cryptocurrency whose developers have raised over $13 million, completing one of the most successful token sales this year.
The project gained prominence due to its positioning as the first Initial Coin Offering (ICO) on the Bitcoin network.
In a recent statement, the developers said that the coin is scheduled to be officially listed on August 21. It will initially be listed on three exchanges: Gate.io, MEXC, and Unisat. Other decentralized and centralized exchanges are also expected to list the token.
Analysts are optimistic that the token will perform well after its listing as it has strong fundamentals: Besides having a cool name, the developers have a good roadmap for creating value for holders.
For instance, they plan to launch an NFT collection with 10,000 NFTs that people can easily buy, hold, and even trade. They also plan to create a Bitcoin Dogs Club marketplace that will charge a modest fee of 0.5%. These fees will be passed on to Bitcoin Dog holders.
Bitcoin Dogs Outlook
Bitcoin Dogs tokens are expected to experience some volatility in the short term after being listed on major exchanges. This is a normal part of the process as many holders tend to sell their tokens after listing.
Volatility also arises due to the current market conditions where most coins are falling. Bitcoin has failed to surpass the crucial $60,000 mark while the market cap of all tokens is falling.
However, in the long term, Bitcoin Dogs token price is likely to continue to perform well as it faces a number of factors.
First, there are signs that the Federal Reserve will start cutting interest rates in September as the US economy weakens. In most cases, when the Federal Reserve cuts interest rates, cryptocurrencies tend to do well.
Secondly, Bitcoin Dogs is an incredibly popular cryptocurrency that has raised over $13 million in just a month, meaning that the token has the potential to create a lot of buzz, just like other meme coins like Pepe and Bonk.
Third, Bitcoin Dogs could benefit if Bitcoin moves from the current accumulation phase into a recovery phase. The monthly chart shows that Bitcoin is forming a cup-and-handle chart pattern on the monthly chart. In most cases, this pattern leads to further upside. For more information, Bitcoin Dogs is here.
