Date: Sat, Sept 14, 2024, 06:11 AM GMT
In today’s cryptocurrency market, the popular memecoin from the TON ecosystem, DOGS (DOGS), has finally regained upward momentum. After suffering a 35% drop since hitting its all-time high on August 28, the token has shown signs of recovery, posting an impressive 9.29% surge in the past 24 hours.
The previous decline was mainly attributed to two key factors: a potential sell-off by airdrop recipients and the events of Telegram’s CEO, which created uncertainty in the TON community. Despite these challenges, DOGS is bouncing back.
At the time of writing, DOGS is trading at $0.001122 but is struggling to break the resistance level at $0.001188. Currently, the token is retesting its support at $0.001120. If bullish momentum comes back, DOGS could soon challenge the next key resistance level at $0.001217. Successfully overcoming this could push the price toward $0.001357, a potential 20% gain from the current level.
Technical indicators show an RSI (Relative Strength Index) of -70.23, with the RSI-Based Moving Average at 59.897, signaling that the token could be on the brink of further gains if upward pressure builds.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are subject to high volatility and risk.