On-chain data reveals: $DOGS coin ownership performance is eye-catching!
As the sell-off recedes, DOGS coin seems to have ushered in a small rebound, and is expected to become the next popular choice for the rise. Market sentiment always follows address activity.
It has been more than six weeks since the advent of the DOGS meme coin. In the first three days, it rose quite happily, but later because of the sell-off in September, it almost spit back all the gains.
However, since the beginning of this month, DOGS seems to have not fallen so much. This means that it may rebound in the next few weeks, and it may have started now.
Especially in the past two days, DOGS has risen by 23%, which looks festive. This is like telling everyone that this cryptocurrency may continue to rise.
Now, DOGS is trading at $0.000778. Some experts say that since the beginning of the month, liquidity has returned to this meme coin, and more people are bullish.
So, is DOGS really ready for a big rise?
Judging from the recent trend, it seems to have accumulated a lot of strength at the bottom. However, if it wants to rise more, more funds must flow in. Considering that it is quite popular now, this should not be difficult.
Looking at the on-chain data, DOGS is quite powerful in terms of ownership, and TON has 5.6 million holders. Although the number of addresses with balances increased to 6.36 million on September 24, it has since decreased by 780,000. But in general, DOGS still has 12.05 million addresses, of which 6.05 million addresses have zero balances.
These zero-balance addresses seem to have stabilized, indicating that the pressure to sell is not that great. However, although it has risen a bit recently, there is still no big movement in the address activity, and the DOGS meme coin has not accumulated enough strength.
However, market sentiment has changed a bit recently, which is good news for bulls.
Speaking of the future price of DOGS coins, what will happen in 2024 and 2025? No one can say for sure. But since October 8, the number of bullish people has exceeded the number of bearish people for four consecutive days, which is different from September.
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