Dogeliens is looking to show strength amid Bitcoin and Crypto Market Dump

by James · December 8, 2022

by IndustryTrends 8 December 2022

Following the news of FTX’s insolvency and the suspected breach, the cryptocurrency market continues to lose billions of dollars. The cryptocurrency market has been on a total rollercoaster for the past few days and shows no signs of calming down. Emerging projects like Dogeliens (DOGET) will have to work hard to continue the momentum gathered over the Twitter drama of the previous weeks. Last week, FTX formally initiated Chapter 11 bankruptcy proceedings in the US, sending markets crashing again. The entire cryptocurrency market is in disarray, as many had expected FTX to come to an agreement that would speed up the resolution and perhaps allow customers to get their balances back.

After all, Sam Bankman-Fried, the former CEO, hinted and emphasized. To make matters worse, the exchange was hacked early this past week, along with some other controversial news that has surfaced. That has caused the market to dump further as the market nears capitulation. The crypto landscape is full of fear, and trusting other cryptocurrencies speaks volumes for investor confidence. Altcoins have suffered as much as Bitcoin (BTC) in the market in recent days.

In the midst of all this, Dogeliens (DOGET) offers a glimmer of hope to crypto investors still looking to cash in on the market. Memecoins generally have no respect for market conditions and can have a massive price pump in the middle of a bear market rally. Early investors are looking to be heavily rewarded for believing in Dogeliens’ potential before the rest of the market catches on.

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Bitcoin falls towards $16,000

Bitcoin (BTC) is the first and largest crypto-asset in the cryptocurrency market, and the landscape uses it as a metric for market performance. Bitcoin has a dominance hovering around 40% and such; the rest of the market mirrors BTC price movements. After Thursday’s favorable CPI statistics last week, Bitcoin tried to recover before collapsing again on Friday.

BTC fell from around $18K to around $16,000, a price range that BTC has not touched in over two years. When the BTC price falls, there is less chance that other altcoins will have room to grow. The current price of BTC also shows investor confidence as it still seems that Bitcoin may not have bottomed yet. The landscape still looks forward to further developments as several other central exchanges have been investigated since FTX went bankrupt.

The Dogeliens try to hold the tide

The new memecoin Dogeliens(DOGET) definitely made some waves in the last few weeks before the FTX news. The news of the Elon Musk Twitter acquisition sparked some reactions in Dogecoin’s price and the memecoin landscape. But because DOGE is overpriced, the landscape is looking to underpriced memecoins like Dogeliens to give the market a taste of a memecoin price pump.

Dogeliens have struggled to ride the wave in recent days as investor confidence plummets. However, the pre-sale has continued to move and savvy investors who see the potential of a DOGE-inspired memecoin continue to collect as many tokens as possible. Dogelia’s launch will be looking to turn early investors into millionaires, and the opportunity is still available to the crypto community.

Launching in a bear market means that Dogeliens has enormous room to grow and onboard users from inside and outside the crypto landscape. Because memecoins are especially concerned with fun, they grow much faster and appeal to users than the usual sophisticated blockchain.

Although Dogeliens will introduce tools across DeFi, NFTs, etc., the community would not care much about them as long as the community spirit is present and their holdings grow in value. Join the pre-sale here now.