$DOGS is currently testing a key support level around $0.00095, at the bottom of its established trading range. Resistance remains at $0.0011844. Traders are closely watching for a potential bounce off support, which could lead to retesting the range top.
Technical analyst Zen points out critical levels: $0.00104 (daily bullish breaker EQ) and $0.001023 (lower breakout point). If DOGS revisits these levels, an upward move towards the $0.00121 target is possible, representing a 2:1 risk-reward ratio.
Mikybull Crypto notes the formation of an inverse head and shoulders pattern - a bullish reversal signal. Traders are keenly observing for a potential breakout above the pattern's "neckline".
IntoTheBlock data shows declining activity: over the past 7 days, active addresses dropped by 77.40%, and new addresses by 77.63%. Zero-balance addresses reached 68.9k, reflecting decreased user engagement.
At the time of writing, DOGS is priced at $0.0009605 with a total trading volume of 25.7 billion tokens.
Forecast: If current support holds, a test of the upper range boundary is possible. A breakout above $0.0011844 could trigger further bullish momentum. However, declining address activity and competition from new memecoins pose risks to the upward movement.
