DOGS consolidates above support with a strong 6X leveraged trade setup, signaling bullish potential.
Community support and token burn strategies bolster DOGSā upward momentum in the market.
DOGS token is now gaining traction in the cryptocurrency market and has tremendous bullish potential. Popular crypto analyst Alan Santana on TradingView says, āDOGS is ultra-bullish right now, with consolidation occurring above support.ā
Every day that passes makes the chart more robust. Santana emphasizes that the tokenās current velocity is surpassing significant thresholds, indicating an ongoing increase in DOGS. He said, āNow we have the highest price since October 2024; soon the highest since September; DOGEUSDT is still rising.ā
DOGS Gains Strength With EMA55 and 6X Trade SetupĀ
The EMA55 line is a significant technical indication bolstering this optimism. Santana noted that although the tokenās latest session dropped somewhat below this level, it soon recovered and closed in the green.
The EMA55 also fits the 0.618 Fibonacci extension level, a key zone in technical analysis sometimes indicating strong support. āWe are going up and we have a leveraged trade with 6X that is ready to boom,ā Santana said, noting this alignment highlights the memecoinās strength. Important is patience.
Complementing the positive sentiment, DOGS has witnessed a considerable price rise and at the time of writing, it traded at about $0.0008. With a 5.11% increase over the last 7 days, this pushes its market cap beyond the $400 million mark.
Thanks to its strong bullish setup in the short term, another crypto analyst said DOGS may generate possible returns of up to 70%, according to a prior CNF report.Ā Strategic tokenomics and strong community support also significantly contribute to DOGSā momentum. A $4 million scheduled token burn aims to decrease the circulating supply.
