Trade Analysis 45: How High Can $DOGS Go?
Binance's recent listing of DOGS, the first TON-Meme coin on the platform, has generated significant buzz. The coin's Telegram group has seen a surge in users, reaching close to 50 million at the time of writing.
This post aims to analyze DOGS' potential price trajectory and determine if it's a favorable time to enter the market. We'll compare it to the successful PEPE meme coin and examine key support and resistance levels.
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1. $PEPE Price Overview
Initial Launch: $0.00000006579 on April 18, 2023
All-time High: $0.00001725 on May 27, 2024 (~1 year after launch)
ROI: 262 times (262000%)
PEPE's remarkable performance, with a 262x return in one year, sets a high bar for DOGS. However, it's important to note that such staggering growth is heavily influenced by overall market sentiment.
2. Key Support and Resistance.
Initial price & Current Low: $0.00140
Current Highest Price: $0.00144
Based on the current price action, DOGS hasn't begun its significant uptrend. There are two primary strategies for entering the market:
Chase the High = Buy when the price breaks through $0.00144 with high volume.
Buy Low = Purchase when the price retraces back to $0.00144.
Tips:
Monitor $BTC Price = Keep an eye on Bitcoin's price to gauge overall market sentiment and time your entry.
Follow Pavel Durov News = News related to Pavel Durov, the founder of TON, can impact the price of TON and, consequently, TON-based meme coins like DOGS.
That's it for today DOGS Trade Analysis. I hope this analysis help you make smarter trade decision.
Trade Smarter! Peace Out ;)
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