DOGS, a newly launched meme coin on the TON blockchain, has seen a steady decline in price after an initial surge, despite strong community interest.
Here’s a look at why DOGS has been gaining so much attention in recent weeks. A key factor is that the coin operates on The Open Network (TON) blockchain. Originally developed by the Telegram team, TON has quickly become one of the most sought-after blockchains.
2024 has been a breakout year for TON, with rapid adoption driven by lightning-fast transactions, low fees, and its ability to support more users than many other Layer-1 chains. Its connection to Telegram also gives it a massive pre-existing audience.
These factors explain DOGS’ popularity. Launched on August 26, shortly after Telegram CEO Pavel Durov’s arrest in France, DOGS experienced a highly volatile Token Generation Event (TGE), during which over 400 billion tokens were distributed to users.
The last few weeks have been eventful for DOGS holders. Following the end of its airdrop campaign in late August, the coin’s price surged, making it one of the hottest new launches. However, the quick rise inevitably led to a decline.
Meanwhile, another contender, Pepe Unchained (PEPU), has been making waves with its successful presale and imminent exchange listing.
DOGS price analysis
DOGS is currently priced at $0.00102, with a 24-hour trading volume of $1.45 billion. DOGS price dropped significantly since its launch.
After on-chain withdrawals became active, the price fell 34% over the month and 20% in the past week. Trading remained volatile in the last 24 hours, with the price ranging between $0.0009969 and $0.001128, as DOGS continued its downward trend.
The asset hit a new all-time low of $0.0009769, testing support twice and holding firm. This resilience hints at a possible bullish reversal. A recent breakout from a falling parallel channel shows a shift in momentum, signaling a positive trend.
A new parallel channel formed, with support holding at lower levels. If Bitcoin and other meme coins keep declining, DOGS could see another 6-7% drop, as such patterns often break downward.
Despite this short-term risk, DOGS remains a key player in the meme coin space with a $526 million market cap and a top 98 ranking by market capitalization.
DOGS price prediction
Looking ahead, DOGS offers potential for investors willing to handle price swings. Its strong market cap, high trading volume, and top spot among meme coins suggest room for growth and recovery. While short-term price changes are likely, the long-term outlook remains positive.
Technical analysis shows DOGS may be nearing price discovery, driven by market trends. After dropping from $0.0012, sellers are slowing down, and buyers are holding the key support level at $0.0010. Keeping above this level is crucial for recovery.
If DOGS stays above $0.0010, it could aim for $0.0012 again, but falling below $0.0010 might lead to further drops. Current market conditions point to the potential for DOGS to see significant price gains.
Trading near its recent high shows growing investor interest and the possibility of ongoing bullish momentum. The recent break from a downward trend and a forecasted 40% rally add to this positive outlook.
DOGS also has high liquidity, which is important for supporting price increases. With a large market cap and active trading, DOGS has enough liquidity to keep prices moving. As a newer asset, launched less than a month ago, DOGS is still in its early stages of growth.
This creates opportunities for significant price gains as it gains more attention and market adoption. Considering the technical analysis, liquidity, and DOGS’ recent launch, its price could keep rising if positive trends and market conditions continue.
DOGS faces selling pressure as investors flock to Pepe Unchained
While DOGS grabs the headlines, another meme coin is quietly gaining traction: Pepe Unchained. This new frog-themed token on Ethereum has already raised over $12.3 million, making it one of the best crypto presales of 2024.
The presale is still strong, with whale investments of over $80,000 pouring into $PEPU earlier this week. So why are crypto whales excited about Pepe Unchained? The project offers impressive technology behind its green exterior.
Its main feature is a Layer-2 blockchain called the “Pepe Chain,” which the team claims runs up to 100x faster than Ethereum. This means quicker transactions, lower fees, and less network congestion.
The developers are also introducing a “double staking” protocol that offers annual yields of 165%, attracting more investors. During the ICO, over 970 million $PEPU tokens have already been staked, showing strong confidence in the project.
Pepe Unchained’s community-focused tokenomics make it even more appealing. There are no separate allocations for private sales or the developer team, and 20% of the token supply is reserved for marketing, boosting visibility and brand awareness.
Moreover, the $PEPU smart contract has passed two security audits by Coinsult and SolidProof, with no centralization risks or vulnerabilities found.
Investors can buy $PEPU now at a discounted price of $0.0095743, but the price increase is just around the corner. To stay updated, follow the project’s X and Telegram channel.
To participate in the $PEPU token presale, go to pepeunchained.com.
Related
- Whale Activity Fuels $12.3 Million Raised for Pepe Unchained Layer 2 ICO
- Pepe Unchained Presale Surges to Over $12M as Crypto Whales Bet Big on $PEPU’s Massive Growth Potential
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