Forget Bitcoin! Whales Are Stacking Billions into This Surprising MemeCoin

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Built on the Ton chain, the DOGS project is the latest release of the rapidly growing Toncoin ecosystem. It is a community-driven initiative, designed to leverage Telegram’s vast user base. This is also focused on promoting its meme culture.

Inspired by “Spotyy” a meme created by Telegram’s founder, Pavel Durov. This project aims to introduce tokenized stickers and an engaging ecosystem with a focus on governance and fair reward distribution.

DOGS Token Unlocks, Allocation, and Schedule

As per the latest reports, the unlocking of the DOGS token is scheduled for 1 year, from 1 September 2024 to 1st September 2025. With a total supply of 550 Billion tokens, it is bifurcated into 6 different groups.

Source: CoinMarketCap

Reportedly, community airdrop has the largest allocation at 72.74%, followed by marketing at 9.18%. The project plans to hold a liquidity of 5.45% with its team reserves at 5.36%. Binance Launchpad was allocated 4% whereas its Advisory has 3.27% of the total supply.

This indicates strong fundamentals and a potential future for this project during the upcoming time. Planning on investing in this memecoin but concerned about its short-term targets? Dive in to uncover the latest trends and sentiments of DOGS prices.

DOGS (DOGS) Price Action:

Following its launch, the DOGS price instantly gained significant attention. Despite the ongoing market turmoil, this memecoin has added over 7% within the past 48 hours. Notably, with a market cap of $541.6 Million, it has already secured the 3rd position in the Toncoin ecosystem.

TradingView: DOGS/USDT

The Relative Strength Index (RSI) has displayed a sharp drop in the DOGS price chart with a bearish convergence in its average trendline. This highlights increased selling pressure for the meme coin in the shorter time frame.

However, the MACD indicator has recorded a constant green histogram. Further, its averages display a steady rise in the price chart. This suggests a mixed price action for the DOGS token in the crypto market.

Will DOGS’ Prices Increase?

Suppose, the bulls break out of the resistance trendline, in that case, the DOGS price will prepare to test its resistance level of $0.001145. Further, if the bulls continue to dominate the market, the DOGS price will prepare to head toward its upper resistance level of $0.001355.

On the flip side, if the bears overpowered the bulls, the Ton-based memecoin could plunge toward its crucial support level of $0.0009291 this month.

Also read, our DOGE price prediction up till 2030!