DOGS token plunged 5%, can it rebound? Is the TON chain game king about to break out, or is it in a deep decline?
The current market value of DOGS token is $525 million, and the price has fallen by 5.34% in the past 24 hours. The current price is about $0.001017, and the daily trading volume has reached $292 million.
DOGS was developed on the TON blockchain, with the help of Telegram's huge user base. As the market gradually warmed up, DOGS's game token has been valued again and has been affected by the rebound in the price of TON tokens.
From the price performance of DOGS, the 4-hour chart shows that it is generally in a downward trend. Although there is a slight bullish rebound, it is still declining overall. In the past 15 days, the price of DOGS has fallen by 36%, forming a bearish descending wedge pattern.
At present, the price trend of DOGS is showing a bearish wedge pattern, and it is difficult to stabilize the psychological barrier of $0.0010. Due to the increasing selling pressure, MACD and signal lines have also formed a bearish crossover. In addition, in the 4-hour chart, DOGS faces strong resistance at the 50 EMA.
According to the Fibonacci retracement level analysis, if it falls below $0.0010, the support levels below will be around $0.000946 and $0.000922, respectively. In addition, $0.000880 is also an important support level. From the upside, if it can break through the downward trend line, the key resistance levels are $0.001070, $0.001156, and $0.001230.
The DOGS token also made it into the top ten popular projects list released by Santiment. As an emerging project, this means that it has achieved remarkable achievements and may have the potential for further growth.
