2 min read
CoinMarketCap included the imitation of Dogecoin (CRYPTO: DOGE), Nano Dogecoin (CRYPTO: INDC), on their list of “Top Gainers” by rising more than 9,000% sometime on Tuesday.
What has happened
INDC was trading 100% lower at $ 0.000000053 at the time of publication of this article after a 24-hour monitoring period. Over the week, copycat Dogecoin has soared as high as 6,863.93%, according to CMC data.
For comparison, DOGE was trading 0.54% lower at $ 0.21 for 24 hours and over the past seven days it has fallen 13.35%.
Nano DogeCoin noted on Twitter that his project was the “number one winner” in the last 24 hours on CoinMarketCap.
We continue to pump and we have just announced that our buybacks will be this Thursday between 2-5pm UTC
– NanoDogeCoin (@NanoDogecoinBSC) September 21, 2021
It is important to note that CMC tracks only the BitMart market with a volume of $ 327,669. The currency is also available to trade in PanCakeSwap (CRYPTO: CAKE).
Because it is important
INDC’s advance comes amid what the project described as a “huge buyback bomb.” The project said it would implement buybacks of up to $ 1 million.
Huge buybacks are coming @NanoDogecoinBSC will be implementing buybacks of up to 1 million dollars
– NanoDogeCoin (@NanoDogecoinBSC) September 19, 2021
At the same time, INDC is migrating from an old contract to a new one on Binance Smart Chain.
Nano Dogecoin claimed in a migration-related FAQ round that they cannot reveal the exact market capitalization during the process to avoid “any kind of malicious operation based on price differences.”
In particular, INDC owners can obtain Tether (CRYPTO: USDT) simply by holding the coin as passive income. It is also possible to earn money through betting and referrals.
The project’s Telegram community currently has 38,333 members.
Recently, Dogecoin knockoffs have been on a roll even though the main Shiba Inu-themed cryptocurrency has made no changes.
Next, we recommend you read: Markus: ‘being your own bank’ of cryptocurrencies carries risks