The DOGS meme coin, built on the TON blockchain, has attracted significant attention since its launch, especially after a highly anticipated airdrop. Its rapid growth in popularity and price movement has captivated cryptocurrency traders and investors alike.
As of early September 2024, a notable tweet from Captain Faibik, a respected crypto analyst, pointed to a bullish breakout for DOGS from a falling wedge pattern, indicating a potential surge of 40% in the short term. This has piqued the interest of traders, with many seeking to capitalize on the expected rise in value.
Rising TON Blockchain Activity Driven by DOGS Airdrop Enthusiasm
The TON blockchain has seen a remarkable uptick in activity, processing over 46 million transactions in a single week due to the excitement surrounding the DOGS airdrop. This massive transaction volume showcases the increasing utility of the TON network and strong investor enthusiasm for DOGS as it becomes a key player in the memecoin sector.
The token’s current price of $0.001094 represents an 8.75% increase over the last 24 hours, placing DOGS among the top gainers in the market. Its daily trading volume is $478.63 million, and its market cap is $565.55 million, solidifying its place as one of the most-watched meme coins today.
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- Processed 46 million transactions in one week
- $478.63 million daily trading volume
- $565.55 million market cap
DOGS Price Momentum: What’s Driving It?
DOGS’ current momentum is driven by market conditions and early access to decentralized exchanges (DEX). An intelligent trader reportedly profited 400% from early DEX access before DOGS’ launch on centralized exchanges. This highlights the opportunity for early investors, though it is essential to note that DOGS, like other meme-coins, remains highly volatile. After reaching highs in late August, the token experienced a significant price correction, mirroring the behaviour of other popular tokens like POPCAT.
Outlook for the DOGS Memecoin and TON Blockchain
The future looks promising for DOGS, especially as the TON blockchain grows. The surge in blockchain activity, combined with traders’ keen interest, suggests that DOGS could remain a prominent meme coin in the months ahead.
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In conclusion, DOGS’ breakout on the TON blockchain signals strong market enthusiasm, yet traders should remain cautious due to the inherent volatility of memecoins.