Chinese Doge Coin $CHINA, $NiHao Pump 40,000% - Are AiDoge, $WSM The Next Cryptocurrency to Explode
The 2023 crypto cycle has been dominated by eye-catching crypto narratives garnering immense traction - sending low-cap altcoins surging.
Perhaps none have been more spectacular than the bullish 'Chinese narrative'.
On the back of huge news about the progress of Hong Kong's new retail-level crypto regulatory regime, which has defied expectations to win the support of Beijing in its ambition to become a global crypto hub.
The Chinese narrative was ignited back in February, with long-standing Chinese-oriented crypto projects such as NEO, FIL, and CFX all enjoying monstrous price pumps.
Indeed, Conflux Network rode an eye-watering 850% pump between February 18 and March 20.
And now, as global crypto markets brace for the imminent opening of Hong Kong crypto exchanges to retail capital markets, many are anticipating a second run of the famed Chinese narrative.
But far from waiting patiently, many low-cap altcoins are already seeing sensational interest dominate price action - as traders race ahead to position for the next explosive wave of investment.
In one such case, fresh-faced Chinese Dogecoin ($CHINA) has undertaken a jaw-dropping +40,000% in a classic opening day pump and dump.
Taking aim at the iconic Japanese Shiba Inu meme Doge, and tapping into the explosive potential of late-stage meme coin season capital - $CHINA surged on opening in a face-melting green candle.
As excitement around the pump grew in a cacophony of trade volume, early backers began to take profit at a local top of $0.0001911, driving an initial -84% retracement this morning.
Now trading in a consolidatory pattern down at $0.00003058 - brave faced holders are stood steadfast, still enjoying an impressive +7,000% paper gain on launch.
With the Chinese
Read more on cryptonews.com
