DOGS token gains 4.08% in 24 hours with $340M trading volume and $373M market cap.
Resistance at $0.00072 holds as buyers fuel a potential breakout to higher price targets.
Accumulation trends show growing confidence, paving the way for a sharp price increase soon.
Crypto Patel, a renowned cryptocurrency analyst, forecasts a massive rally for DOGS/USDT, targeting gains exceeding 200%. Currently, DOGS trades at $0.00067, sitting just below a critical resistance level at $0.00072. A breakthrough here could ignite a bullish surge, offering significant opportunities for traders.
Accumulation Phase Signals Strength
DOGS/USDT is consolidating, having declined 72% from its all-time high. This drop has led to an accumulation phase, with price stability observed around $0.00060. Buyers are stepping in at this zone, creating a strong foundation for upward movement.
https://twitter.com/CryptoPatel/status/1860752494059471046
The analysis identifies $0.00060 as a robust support zone, where buying interest has prevented further declines. Additionally, a downward trendline acting as resistance appears to be weakening. If breached, this could confirm growing bullish momentum. Moreover, Crypto Patel highlights that DOGS has been trading in a tight range. Such consolidation phases often precede sharp price movements, offering traders a window of opportunity.
Key Levels and Potential Targets
DOGS is approaching a pivotal moment as it tests the $0.00072 resistance. Breaking this level could trigger a significant rally. Patel suggests traders could consider entry points at the current price of $0.00067 or within the $0.00065–$0.00060 support zone.
Once resistance is surpassed, the token’s potential targets include $0.00083, $0.00111, and a long-term high of $0.00156–$0.00200. These levels represent substantial gains for market participants. The potential upside, calculated from the current price, exceeds 200%.The combination of key resistance testing and consistent buyer activity in the support zone underscores a favorable setup. This positions DOGS/USDT as a promising opportunity for bullish traders.
Why Is This Breakout Essential?
This predicted rally is backed by strong technical patterns and buyer interest. The weakening resistance trendline and stable support zone suggest a significant price movement is imminent. DOGS traders have closely monitored the price consolidation, which typically precedes major market shifts.
The ongoing accumulation phase reflects market confidence as buyers step in at key levels. The upcoming breakout could present a substantial reward for those entering at identified support zones.
DOGS Token Surges 4.08% in 24 Hours, Hits $373M Market Cap Amid $340M Volume Spike
The DOGS token witnessed a notable surge of 4.08% over the past 24 hours, pushing its price to $0.0007232. The market cap has risen to $373.70 million, driven by an impressive $340.70 million in trading volume, marking a 44.05% increase. The token's fully diluted valuation (FDV) stands at $397.76 million, with a circulating supply of 516.75 billion DOGS out of a total and maximum supply of 550 billion tokens. With a 91.24% volume-to-market cap ratio, the strong trading activity reflects robust investor confidence, consolidating DOGS' position as a promising digital asset in the cryptocurrency market.
Source: Coinmarketcap
The 24-hour chart shows fluctuating price movements, with DOGS dipping to $0.0006948 early in the day before recovering steadily and crossing the $0.00072 resistance level. This recovery highlights strong buying momentum, supported by increased liquidity and market participation. The DOGS ecosystem continues to gain traction, as the token's current price trend aligns with broader market optimism. This rise also reflects significant accumulation patterns, potentially paving the way for further upward movement in the near term. The DOGS community and investors are closely watching the token's next move as it approaches critical price milestones.
