1. Current Trend and Support/Resistance

Based on the recent chart, we can see volatility and increased trading volumes, which is typical for meme coins. After an initial rally at the start of trading on Binance, $DOGS has experienced a correction, reaching resistance levels at around £0.0008, and support at £0.0005. If the current support at these levels remains strong, a short-term increase to new resistance levels is possible, but if it is broken, DOGS may decline.

2. Technical Indicators

-SMA (Moving Average): Using the 50-day and 100-day moving average can show whether $DOGS is overbought or oversold. If the 50-day SMA crosses below the 100-day, it may indicate further downtrend.

-RSI (Relative Strength Index): Readings above 70 may indicate overbought, while readings below 30 may indicate oversold. In the current situation, it is important to keep an eye on the RSI to stay within the 30-70 range to stabilize the $DOGS price.

-MACD (Moving Average Convergence/Divergence): On the DOGS chart, recent MACD crossovers are signaling a possible short bullish trend. However, if the histogram starts to decline, it may indicate weakness in the bullish momentum.

Conclusion

If DOGS can maintain current support levels and continue to integrate into the Telegram ecosystem, it has prospects for short-term growth. However, high risk and dependence on social factors make it volatile.