40 Billion DOGS Tokens Airdropped in Just 48 Hours
- DOGS token distributed 40 billion tokens in 48 hours to 2.5 million users, marking a significant event in the crypto space.
- The recent DOGS airdrop pushed its price up 8%, bringing attention to its market activity despite high selling pressure.
- DOGS token has a growing community, with over 2.58 million holders, contributing to its recent surge in trading volume and price.
Massive DOGS Airdrop: 40 Billion Tokens Distributed in Two Days
The DOGS token, built on the TON blockchain, recently made headlines with its remarkable 40 billion token airdrop, distributed to 2.5 million users in just 48 hours. This distribution comes on the heels of a prior airdrop of 2.75 billion DOGS to Notcoin holders.
The token's latest surge of 8% in value reflects increased market activity and growing interest, though concerns about high selling pressure remain. Despite its recent gains, the DOGS token is still trading 34% below its all-time high of $0.001644, recorded just over a week ago.
DOGS Token Price Surge and Market Challenges
The recent airdrop and subsequent surge in DOGS’ price to $0.001088 has attracted significant attention from both users and traders. Its market cap has climbed to $563.5 million, with trading volumes spiking by 23% to $482 million.
However, concerns persist over the rising selling pressure, which could hinder further upward movement in the short term. The DOGS token has experienced a 25% loss in value following its initial airdrop, raising doubts about the sustainability of its recent gains.
Adding to the momentum was DOGS' listing as Binance’s 57th launch pool token, a move that initially drove its price up by 124%. Despite this, the token's volatility has led to a 34% drop from its ATH, signalling the potential for further declines if liquidity continues to rise.
While the current price surge is promising, the market remains cautious, particularly for users who experienced delays in receiving their airdrop through the TON wallet.
Conclusion
As DOGS price shows signs of recovery with an 8% surge following the latest airdrop, analysts and traders are cautiously optimistic. Some analysts suggest that a rebound could be on the horizon, with predictions indicating a 40% rally if key resistance levels are broken. While the DOGS token has attracted attention due to its rapid growth in user base and trading volumes, the risk of further declines remains, especially with the high selling pressure.
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