Yesterday, June 30th, Cockapoo ($CPOO) debuted their project on Dxsale and PancakeSwap. In under one second, the presale filled 200 BNB. Initially, the sale appeared to be front-runned by bots due to the speed of the sale completion. Upon reviewing with our community, however, it was confirmed that over 100 members were able to access the presale by utilizing gas. After confirmation from Dxsale, it was verified that the presale was in fact legitimate, further solidifying the excitement surrounding Cockapoo.
Within the first two hours of our PancakeSwap listing, our market cap grew to over $950,000, with token value increasing by over 900%. Within the same time frame, Cockapoo trended number one on Dextools, surpassing Everrise and Baby Doge, while also adding over 1,000 Telegram members and 2,000 holders.
About four hours after launch, it was brought to our attention that Poocoin was showing a 30% unlocked wallet warning next to our chart. Upon further investigation, it was discovered that this wallet was from the 6% portion of our 8% fee, which contributes to a 4% LP Allocation, 1% Burn, and 1% Operations and Development Allocation. Prior to launch, it was decided that this 6% wallet would be manually allocated to LP, Burn, and O&D at the end of every week.
After a 90% LP Allocation at launch, our liquidity pool was equivalent to about 180 BNB. Due to our intense trading volume, our 6% fee grew by over 77 BNB in the first four hours; accounting for over 30% of our liquidity pool, triggering the Poocoin warning message.
Upon realizing the cause of the issue, the Cockapoo Team quickly performed our manual LP, Burn, and O&D allocations to decrease the size of our 6% wallet. By the time the issue was resolved, many holders became aware of the Poocoin warning and liquidated their holdings, citing the explosive growth of $CPOO as a cause of concern for a potential rugpull. These holders sold off their holdings prior to learning the actual cause of the issue, sparking a $CPOO sell off.
Given the fact that Cockapoo was designed to be a true long term project, we had forecasted for pump-and-dump traders and were only concerned with the remaining number of holders after the inevitable initial sell off. Even with the Poocoin error message stimulating sell offs from those not pump-and-dumping, Cockapoo was able to maintain over 2,800 holders after our first day of trading.
After all was said and done, $CPOO ended the day with over a $340,000 market cap, 300% gain, and 2,800 holders, exceeding expectations despite pump-and-dumpers/panic sellers. By weathering this storm and coming out with these numbers, Cockapoo was able to prove the strength of our mission, project, and core holders.
By retaining this amount of holders, Cockapoo is poised to produce tremendous upside through our marketing campaigns, influencer partnerships, and upcoming mobile app launch.
We’re happy to announce that even after the initial sell off, our project is far ahead of schedule and is in the position to make huge waves in the industry.
We want to thank our community for their unwavering belief and devotion to our project and mission, without them none of this would be possible. We look forward to further strengthening and developing our project for years to come, and can’t wait to release further updates on our progress.
Telegram: https://t.me/cockapootoken
Website: https://cockapootoken.com
