DOGS Price Plunges 13% As Experts Say This New Meme Coin Might Be The Best Crypto To Buy Now
Release: 2024/09/02 14:14 Reading: 505
DOGS Price Fluctuates Amid Market Downturn
Over the past 24 hours, the price of DOGS has declined by 13%, currently trading at $0.001087 with a 17% surge in trading volume reaching $512 million.
This decline aligns with a 3% drop in the crypto market, reducing its capitalization to $2.1 trillion. Notably, tokens in the TON blockchain have also experienced setbacks, with TON falling 5% and NOT dropping 6%.
DOGS Price Outlook: Bearish Trend with Potential Rebound
According to data from GeckoTerminal, the price of DOGS has broken the rounding bottom pattern established from August 27-29, falling below the $0.001539 resistance level. The asset has been trading within a falling channel pattern, recently crossing below its lower boundary.
Currently, DOGS is trading beneath its 50-day Simple Moving Average (SMA), indicating a bearish trend. The Relative Strength Index (RSI) remains below the 30-oversold region (currently at 26) but shows signs of recovery.
This indicates that DOGS is currently undervalued, presenting an opportunity for buyers to enter the market. If buying interest increases at this level, DOGS may break out of the falling channel, targeting $0.001435 as its next resistance. However, if selling pressure persists, the price of DOGS may further decline to the $0.000990 support zone.
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