$DOGS Current Status: Will It Dump or Pump?
$DOGS is currently trading around $0.00122, though it's faced a significant decline of over 23% since its listing. Despite this dip, the token’s market cap has surged to an impressive $640 million.
Interest from investors and traders remains strong. According to on-chain analytics firm CoinGlass, DOGS has seen a 35% increase in open interest over the past four hours and a staggering 16,000% rise in the last 24 hours.
What’s Next?
As the market continues to adjust, we could see further profit-taking or selling pressure. Many traders are actively shorting $DOGS, while early investors are starting to offload their holdings, which could add to the downward pressure.
However, it’s important to note that $DOGS, built on the TON blockchain, is still gaining traction. Over 8 million users have claimed their airdrop since the listing, and the project’s Telegram channel has more than 16 million active users. This strong user base enhances the project’s potential for continued success, even amid the current volatility.
In summary, while there’s significant selling pressure, the project’s robust community and market presence could help stabilize or even propel $$DOGS orward. Traders should keep a close eye on the market dynamics to gauge the next move.
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