The cryptocurrency market is currently buzzing with optimism, with meme coins also riding the wave of positive sentiment. While Dogecoin and Shiba Inu have often dominated conversations, another meme coin is catching the eye of analysts. The spotlight now shines on DOGS, a new player in the meme cryptocurrency arena, which has garnered a significant following, especially on social media platforms.
Crypto Analyst Predicts 160% Breakout for DOGS
Enter the insights of a crypto analyst known as CoreCrypto1, who recently shared a compelling analysis on the TradingView platform. His analysis presents a promising outlook for DOGS Coin, identifying it as a potential breakout candidate. According to CoreCrypto1, the coin’s daily chart reveals a descending triangle pattern, a formation that has just witnessed a breakout.
Advertisement Banner
This pattern typically signals bullish potential, often culminating in upward momentum. Since August, the upper trendline of this triangle has acted as a barrier to DOGS’s upward movement. However, recent activity shows DOGS breaking through this resistance, moving into a critical retest phase. If successfully retested, this former resistance could turn into a support level, paving the way for substantial gains. CoreCrypto1 anticipates that such a scenario could propel DOGS to a remarkable 150-160% increase from its current valuation.
Key Price Levels to Monitor
Launched in July 2024, DOGS is a relatively new addition to the dog-themed meme coin niche, connected to the TON blockchain. Inspired by the Spotty mascot, a creation of Telegram founder Pavel Durov, DOGS has quickly attracted a dedicated social media following, particularly among Telegram users.
Currently, DOGS is trading at $0.00072. Despite a rocky start after launching at $0.001633, the coin has gained momentum, especially following recent market inflows post-US elections. On the daily candlestick chart, DOGS has begun a promising uptrend.
CoreCrypto1 suggests that now may be an opportune time to enter the market at the current price. He advises additional purchases on dips to $0.00052, with a stop loss positioned at $0.000444. His ambitious price targets for DOGS are set at $0.0008, $0.0011, and $0.00152, which could potentially yield returns of 40%, 92%, and 166%, respectively.
Tracking DOGS’s Upward Momentum
Recent price data indicates that DOGS has maintained its upward trajectory since the analysis. At the time of writing, DOGS is trading at $0.0006269, marking a 12.5% increase in the past 24 hours. This positive momentum supports the analyst’s prediction of a potential 160% surge, adding to the excitement surrounding this meme coin.
The crypto landscape is ever-evolving, and DOGS represents a fascinating case of how new meme coins can capture attention and potentially offer significant returns. As always, investors should remain vigilant and conduct thorough research before making any investment decisions.
