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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