Date: Sat, Sept 14, 2024, 06:18 AM GMT
In today's cryptocurrency market, the popular memecoin from the TON ecosystem, DOGS (DOGS), has finally regained upward momentum. After suffering a 35% drop since hitting its all-time high on August 28, the token has shown signs of recovery, posting an impressive 9.29% surge in the past 24 hours.
The previous decline was mainly attributed to two key factors: a potential sell-off by airdrop recipients and the events of Telegram’s CEO, which created uncertainty in the TON community. Despite these challenges, DOGS is bouncing back.
At the time of writing, $DOGS is trading at $0.001122 but is struggling to break the resistance level at $0.001188. Currently, the token is retesting its support at $0.001120. If bullish momentum comes back, DOGS could soon challenge the next key resistance level at $0.001217. Successfully overcoming this could push the price toward $0.001357, a potential 20% gain from the current level.
Source: TradingView
Technical indicators show an RSI (Relative Strength Index) of -70.23, with the RSI-Based Moving Average at 59.897, signaling that the token could be on the brink of further gains if upward pressure builds.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are subject to high volatility and risk.
