DOGS Token Price Prediction: Why $DOGS Prices Are on Decline

At listing, the community anticipated a value of $0.04 USD

• As of July 11, 2024, DOGS/USDT IOU started with strong bullish momentum.

• $DOGS price peaked at $0.04608 but has since dropped to $0.02301, reflecting a notable decline of around 50%.

• $DOGS price has seen several consolidation phases, briefly stabilizing at $0.03000, $0.02700, and $0.02500 before continuing its downward trend.

• The chart shows a bearish trend, with the 20-period moving average consistently below the 50- and 100-period moving averages.

• The MACD indicates a bearish crossover, and the RSI is at 40.10, suggesting DOGS/USDT is approaching oversold conditions and may decline further.

• A descending triangle pattern is forming on the chart, signaling a potential continuation of the bearish trend.

• According to Coingabbar analysis, DOGS is currently supported at $0.02300; a drop below this level could lead to a sharper decline.

• Resistance at $0.03000 suggests a trend reversal if overcome; otherwise, bearish momentum likely persists.

KEY LEVELS :

RESISTANCE LEVEL : $0.03000-$0.03700

SUPPORT LEVEL : $0.01700-$0.01000

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.