Is Dogecoin Knockoff ‘Nano Dogecoin’ Really Up 9000% Today? – Dogecoin – United States Dollar ($DOGE)

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.

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.

See Also: Bitcoin, Dogecoin Fight Above Key Levels, Ethereum’s Woes Deepen As Seasoned Investors Take Modest Profits

At the same time, INDC is migrating from an old contract to a new one on the Binance Smart Chain. 

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.

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