Dogecoin Cash (OTC:CBDS) Moves Into the Meme Coin Market
The meme coin rally has been nothing short of a revelation in recent times, and following yesterday’s announcement, the Dogecoin Cash Inc. (OTC:CBDS) stock could be worth tracking. The company hit the news wires yesterday after it made an announcement with regards to its strategic move to get into the fast-growing meme coin space.
The Announcement
In the news release yesterday, the company announced that in recent times meme coins had experienced a stunning rise, and thanks to that, Dogecoin Cash had decided to get into the space through the launch of MEME COINS Inc., a new subsidiary. The company referenced the successful launch of meme coins by public figures like Melania Trump and Donald Trump. The subsidiary would help the company in overseeing investments and acquisitions in the space while protecting the interests of the Dogecoin Cash shareholders.
Further Details
One of the more important factors behind the move was the fact that the meme coins had become one of the more important cultural and political forces in recent times. Billions of dollars worth of meme coins were traded on a daily basis globally. As a consequence, this was a move Dogecoin Cash considered.
Technicals
| +/- EMA(20) | 0.0437 (-15.10%) |
| +/- SMA(50) | 0.0566 (-34.45%) |
| +/- SMA(200) | 0.0299 (+24.08%) |
| 5-Day Perf. | -7.48% |
| 1-Month Perf. | -27.25% |
| 3-Month Perf. | -65.84% |
| 6-Month Perf. | +642% |
| YTD Perf. | -57.36% |
| 1-Year Perf. | +181.06% |
| RSI(14) | 39.27 |
| ATR(14) | 0.01 |
| ADX(14) | 17 |
| Beta (5Y) | 0.72 |