Dogecoin (CRYPTO: DOGE) knockoff Nano Dogecoin (CRYPTO: INDC) was listed by CoinMarketCap among its “Biggest Gainers” with over 9000% in gains at one point on Tuesday.
What Happened: INDC traded 100% lower at 0.000000053 over 24 hours at press time. For the week, the Dogecoin-look alike has shot up 6863.93%, as per CMC data.
See Also: How To Buy Dogecoin (DOGE)
In comparison, DOGE traded 0.54% lower at $0.21 over 24 hours and over the last seven days, it has fallen 13.35%.
Nano DogeCoin noted on Twitter that their project was the “number 1 top gainer” in the past 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 marketplace with a volume of $327,669. The coin is also available for trade on PanCakeSwap (CRYPTO: CAKE).
Why It Matters: The gains in INDC take place amid what the project described as a “Huge Buyback Pump.” The project said it would be implementing buybacks up to $1 million dollars.
Huge buybacks are coming @NanoDogecoinBSC will be implementing buybacks of up to 1 million dollars
— NanoDogeCoin (@NanoDogecoinBSC) September 19, 2021
Nano Dogecoin said in a migration-related FAQ that they cannot disclose the exact market cap during the process to prevent “any kind of malicious sniping/trades based on price differences.”
Notably, holders of INDC can gain Tether (CRYPTO: USDT) for simply holding the coin as passive income. Earning is also possible through staking and referrals.
The project’s Telegram community now has 38,333 members.
Recently, Dogecoin-knockoffs have been on a tear even though the primary Shiba Inu-themed cryptocurrency has been subdued.