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đ„ DOGS Could Face a Price Crash đ„
Despite its successful launch, DOGS isn't free from the risk of a price drop. When Notcoin (NOT) was first listed, it saw a huge 60% drop as early investors sold their tokens for quick profits. It stabilized a week later.
DOGS is facing a similar situation, though less severe, according to analysts at CEX.IO. They noted, âAfter its launch, DOGS experienced a price drop, likely due to investors taking profits. However, the drop was only around 25%, much smaller than Notcoinâs.â
Several factors may have caused this dip, including uncertainty about Telegramâs future, which impacted all tokens linked to Telegram. Without this, the price drop might have been less.
Currently, DOGS is stabilizing within a tight range, something that took Notcoin a week to do. The faster recovery suggests that the DOGS community may be more focused on the tokenâs long-term potential rather than short-term profits.
However, the CEX.IO team warned that thereâs still a risk of more selling pressure as the community continues to evaluate DOGSâs future prospects.
DOGSâs tokenomics also play a big role in its market performance. With 81.5% of the total supply given to the community and no lock-up periods, the tokenâs value largely depends on community sentiment and perceived utility.#FanTokensRising #USPPIAboveExpectations #BTC60KResistance #10MTradersLeague #SCRPricePrediction