$DOGS Takes a 37% Dive Post-Listing: Is a Comeback on the Horizon?
$DOGS, Telegram’s much-hyped meme token, made waves with a jaw-dropping $600 million market cap just 10 hours after its August 26, 2024 listing. But the celebration was short-lived.
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After its explosive debut, $DOGS hit a rough patch, plunging 37.87% from its peak of $0.001817. It’s now trading at $0.001174, down 4% in the last 24 hours according to CMC data.
What went wrong?
Market volatility and early investor sell-offs triggered the sharp decline. Many early adopters cashed out quickly, with one trader turning an $18.4k investment into $77.3k, highlighting the wild swings in $DOGS’ value.
Can $DOGS stage a comeback?
Despite the rocky start, some analysts see potential for a rebound. Currently trading at $0.004377, CoinCodex predicts $DOGS could soar by 236.09% by September 26, 2024. This could be a lifeline for those holding on, but the short-term outlook is still uncertain.
With the Fear & Greed Index sitting at a neutral 48, market sentiment is mixed. CoinCodex suggests caution, as this might not be the best time to buy.
What do you think? Can $DOGS turn it around, or is it in for a rough ride? 👀
