The ongoing price rally in the broader cryptocurrency space has also had a significant impact on memecoins. Notably, DOGS, a memecoin built on The Open Network (TON) blockchain, has achieved important milestones in its price performance. This change comes after a long period of price volatility that forced this token to struggle to overcome vital resistance levels.

DOGS Achieves 'Highest Weekly Candle'

Dan Gambardello, a prominent cryptocurrency analyst on X, considers DOGS' recent performance a key moment. He believes it could reposition the token for strong growth. Gambardello shows that the memecoin has closed with the 'highest weekly candle' ever in the price performance chart of DOGS.

According to data, the price of DOGS is at $0.0006861 as of the time of writing. However, in the past 24 hours, this token has traded in a range from a low of $0.0006258 to a high of $0.0006914. The memecoin attempted to test the resistance level of $0.00070 before returning to the current level.

Nevertheless, the memecoin reached $800 million in volume, driven by a record high weekly close. This clearly signals the bullish momentum of the token. It also shows the increasing trust of investors in the TON ecosystem as a whole.

This trend has led Gambardello to call it 'the most epic memecoin story in cryptocurrency.'

He predicts that DOGS could become popular in the memecoin space, potentially outperforming long-standing rivals like Dogecoin and Shiba Inu.

Mixed Performance Among TON Tokens

Meanwhile, the TON ecosystem has undergone a generally limited price increase. Toncoin, the leading coin in the ecosystem with a market capitalization of $14.10 billion, has decreased for the week to date (WTD).

In trading, the price of Toncoin reached $5.79, only to drop to the current price of $5.54. Despite the broader bullish sentiment, Toncoin has not met investor expectations during this rally. The coin could not test the previous high of $8.17, a level it set in June 2024.

Similarly, Notcoin (NOT) has struggled in its recovery moves. Although it has risen from a low price of $0.005647 on November 4 to the current price of $0.007705, it still could not overcome the resistance threshold of $0.0080.

NOT has fluctuated between $0.007356 and $0.007708 in the past 24 hours as community optimism continues to support the price.

Despite some attempts to recover the price in the past seven days, Hamster Kombat could not overcome the resistance level of $0.0045. The coin changed hands at $0.004085, up 1.67% in the last 24 hours.

In contrast, Catizen (CAT) has recorded impressive price increases compared to other coins in the TON ecosystem. The price of CAT has surged significantly by 57.87% in the past seven days. This token has recorded an impressive increase from a low of $0.3603 to the current price of $0.6656.

Future Prospects of DOGS?

Although DOGS has not fully capitalized on the ongoing bullish trend in the cryptocurrency space, market trend watchers remain optimistic about the future performance of this coin.

In December, analysts predict that DOGS could rise to a maximum price of $0.0089 and a minimum price of $0.004110. So far, the average price of this token is set at $0.006890.

Forecasts for 2025 show optimism as speculations have priced the average of DOGS at $0.011. The maximum and minimum prices are $0.015 and $0.0098 respectively. Community sentiment remains optimistic, and investors hope that the memecoin will soar with improved sentiment in the future.