It would be a spectacular moment for DOGS to reach $1. The team recently supported the decline in the value of the token by encouraging crypto enthusiasts to buy on dips. This is in line with their mission to reach the $1 mark by 2025. For reference, DOGS is currently trading at $0.0007298, down 5.98% in the past 24 hours and up 7.95% in the past 7 days. Analysts have raised another possibility that the $1 mark could be reached by the end of 2030.
The two sides engaged in a discussion about when the token will reach $1. What ties the two sides together is the milestone, which has now become the focus of every conversation. The main interaction between the two sides revolved around whether DOGS will reach this milestone. First, it is plausible that DOGS will achieve this feat. Second, determining a timeline is challenging due to multiple factors such as volatility, overall market sentiment, and regulatory news on DOGS.
A recent report attempted to predict that DOGS will hit a new high in October 2024. With 2 weeks left in the month, the predicted value is $0.003241. Recent forecasts suggest that gains could reach 230.71% in the next 30 days, with a value of $0.002474 at press time. This, therefore, means that higher prices may not come in October. If this happens, then DOGS may not be able to sustain this gain for long.
Meanwhile, cryptocurrency enthusiasts began to react to DOGS’ post on X. Some of them said they were optimistic, while others said it was impossible to reach the $1 target by 2025. Some even hinted that they were comparing DOGS to XRP, which could indicate that they prefer Ripple’s token, which could have its own ETF next year.
DOGS currently has a volatility of 13.09%, which is at a relatively high level. FGI, which measures greed sentiment, is 73 points, indicating that investors are actively looking to buy on dips. Investors are willing to allocate funds to the token when it is at its lowest level. If it eventually rebounds, it will bring good returns. If the goal is only to act in the short term, the same investors may eventually cause selling pressure.
The 14-day RSI is 48, which represents a neutral sentiment; however, the overall sentiment is bearish for DOGS. The short-term price targets suggest a buy option. The coin could generate a return of 33.38% by October 21, 2024. Needless to say, investors could also lose their funds.
Originally an internet meme, DOGS has now taken its place on the cryptocurrency charts, reaching the 151st position by market cap and currently down 4.62%. As it continues to aim for the $1 milestone by 2025, being in the top 200 cryptocurrencies is still a remarkable achievement.
