DOGS, a ton-based meme coin, has experienced a 3% drop today, aligning with the broader cryptocurrency market to settle at $0.001055. Over the past week, the token has declined by 18%, following a 35% fall from its all-time high of $0.001633 on August 28. This downward trend coincided with the DOGS team's distribution of 40 billion tokens in a 48-hour airdrop, with most of the total supply now in circulation. However, despite many participants selling their tokens post-airdrop, the recent upward momentum suggests a potential rebound in the coming days.
tokens-airdropped-in-48-hours-is-a-bigger-rally-ahead-">DOGS Price Surge: 40 Billion tokens Airdropped in 48 Hours – Is a Bigger Rally Ahead?
After a significant decline from its August high, DOGS appears to be gaining traction again, with a positive movement observed in the past hour. Technical indicators are reflecting this change, with the relative strength index (RSI) rising from under 30 to over 50 within a few days. Furthermore, the 30-period moving average is approaching the 200-period average, signaling a potential shift in investor sentiment back to DOGS.
The token's launch on the telegram Open Network (ton) followed a community-driven response to telegram founder Pavel Durov's arrest. Featuring Spotty, a canine mascot associated with Durov, DOGS garnered popularity as a meme coin symbolizing solidarity with certain nationalities. Despite Durov's recent legal developments, DOGS' thematic relevance as a resistance-inspired token is expected to persist.
With a growing following and its current status as the eighth-largest meme coin by market capitalization, DOGS is poised for a recovery in the near term. A projected target price of $0.0013 in the coming weeks and a potential return to its all-time high by December indicate positive momentum for the token.
coins-often-outperform">Newer meme coins Often Outperform
While some traders may have missed DOGS' airdrop, new meme coins like shiba Shootout (SHIBASHOOT) present promising opportunities. SHIBASHOOT, an ethereum-based token raising $1 million in its presale phase, combines shiba Inu memes with Wild West themes to create a community-driven ecosystem focused on engaging competitions and activities.
Participants can expect poker tournaments, lotteries, staking rewards, and virtual treasure hunts, with SHIBASHOOT token allocations designated for sales and staking. Governance voting rights add an additional layer of utility, potentially enhancing the token's appeal post-listing.
Latecomers interested in SHIBASHOOT can access the official website to participate in the ongoing sale, where tokens are priced at $0.0201. As the price is set to increase in a few days, early buyers may capitalize on the token's growth potential, positioning SHIBASHOOT as a contender in the evolving landscape of meme coins.
