DOGS Crypto Comeback? Analyzing the Potential Breakout and Market Dynamics
The world of cryptocurrency is always evolving, and the latest buzz surrounds DOGS, a mini-app on Telegram that has amassed over 53 million users. This digital asset has been in a period of consolidation, but recent market activities suggest that it may be on the verge of a breakout. The popularity of mini-apps on Telegram is rising among investors, making DOGS an interesting case study. The upcoming airdrop of Hamster Kombat and Citizen, two other Telegram mini-apps, is expected to bring more attention to the Ton ecosystem, potentially impacting DOGS’ performance. Early September’s price action indicates a possible retest of the 0.0010 psychological level, especially with the upcoming Federal Reserve rate announcement. Although the volatility will be high, this could be a small correction upward in the short term. If DOGS can sustain its momentum and break the $0.0010038 resistance, it could potentially move towards $0.00106 or higher. However, if it fails to break this level, further consolidation or a retest of the $0.0009353 support might be in the cards.
Adding to the intrigue is Crypto All-Stars, a new meme coin that offers a staking platform. Holders of major memes can earn rewards in $Stars tokens through the Memevault platform. Memevault is a groundbreaking staking contract that allows for multi-token, multi-chain staking on a single platform. There is also a secondary staking app for Stars token holders. Locking up Stars tokens can lead to additional rewards, promoting long-term holding. At launch, 11 top meme coins will be available for staking, including Pepe Coin, Dogecoin, Shiba Inu, and more. More meme coins will be added in the future. Investors can earn an astonishing 1117% annual percentage yield (APY) by staking their meme coins. The amount of Stars tokens owned determines the rewards earned, making it a lucrative opportunity for meme coin enthusiasts.
In another significant development, Coinbase international exchange has announced the listing of perpetual futures for Polygon (POL) and DODO (DODO). These assets will become available for trading on September 19th, as the frenzy around these coins surges. Crypto users anticipate an increased price rally for both tokens amid the present sentiments. The introduction of perpetual futures for POL and DODO by Coinbase has sparked positive sentiments within the crypto community. These perpetual futures will launch on Coinbase international exchange and Coinbase advanced on September 19th. This move aligns with the platform’s commitment to diversify its products to meet global demand. The opening of these markets will begin on or after 9:30 am UTC on September 19th, 2024. This new addition gives traders more sophisticated options to manage digital asset risks, while also attracting advanced participants to the platform.
Crypto enthusiasts have lauded the development due to the potential market impact it may have. Listings on top exchanges often attract bullish sentiments to crypto assets due to the volume and other factors. The platform also benefits from the influx of users investing in these tokens. Recently, Coinbase has announced the addition of perpetual futures contracts for Immutable (IMX) and Flow, further boosting investment in the derivatives market. The wider market’s increasing participation in decentralized finance (DeFi) has led to support for several assets. Both POL and DODO supporters are expecting an upward trend in price following the Coinbase listing. DODO has been particularly catching the attention of crypto traders lately, with a projected $0.002 price target after the announcement of a DODOUSD perpetual contract on Binance. However, its price has fallen 1.25% in the last 24 hours due to bearish market sentiments. On the other hand, POL has seen a slight uptick in the same time frame, trading at $0.375. POL’s migration from Matic to Polygon has been a major topic of discussion in the crypto community.
David, a finance news contributor, has reported on emerging technologies and has an eye for breaking news, including in the crypto assets market. He enjoys cycling and horse riding when not following financial markets. Despite a surge in value, volatility has caused a recent decline in the value of a new token. Many investors are now in negative positions due to this decline. However, opportunities still exist in emerging meme coins, such as Memebet, which is currently in presale. Memebet offers sneak peeks of upcoming games and features through airdrops. The presale has already raised $245k, showing strong interest from investors, particularly large investors known as ‘whales.’ A recently launched cryptocurrency, $Dogs, has gained attention for its unique strategy of targeting airdrops and securing listings on multiple centralized exchanges.
In just two weeks, $Dogs has significantly impacted the cryptocurrency market. The airdrop sparked intense demand and even caused a network outage on the Ton network. The coin’s rapid growth and increase in wallet holders show strong appeal among investors. Although $Dogs briefly ranked among the top 100 cryptocurrencies, recent market fluctuations have dropped it to around the 110th spot. However, this may not indicate a long-term downtrend. A positive sign is the recent 27% increase in daily trading volume, with current volume at nearly 6%. This suggests continued interest in the token. While it currently ranks 33rd in daily trading volume, this level of activity is encouraging, especially during a difficult market. Technical analysis points to potential upward movement for $Dogs. In a cryptocurrency landscape dominated by established projects, $Dogs offers the potential for significant price appreciation. Its community-driven approach and active development make it a promising opportunity for investors seeking diversification.
Observing $Dogs’ performance in the coming months will be important as the token faces challenges. For those interested in earning passive income, Memebet offers a variety of betting options and rewards through its token, $Memebet. With a strong community and strategic partnerships, Memebet is positioning itself as a standout in both the crypto and online gambling sectors, making it a promising project for potential investors to explore. Recent cryptocurrency market trends have attracted the attention of investors and enthusiasts. The growth of meme coins has been highlighted by the success of Dogecoin, with over 17 million active users. Solana (SOL) is expected to experience an upward movement, demonstrating its potential and viability as an altcoin. Rexas Finance (RXS) is preparing for a 3,700% bull run, thanks to its unique model of real-world asset (RWA) tokenization. These developments signal a new phase of evolution for the crypto industry, offering different visions for the future of digital assets.
Dogecoin made history by breaking the world record for the most token claims through its use of Telegram Open Network (TON). The community-centric approach of Dogecoin sets it apart from other projects, with 81.5% of its total supply allocated to the community. The project has already generated considerable buzz, with over 6 million verified users requesting to deposit Dogecoin into exchanges and wallets. The upcoming airdrops of Hamster Kombat and Catizen are expected to build on the success of Dogecoin. Solana has had a mixed performance recently, but remains up 6% for the past week and trading above $150. The price action for Solana could potentially lead to a breakout, as it has been consolidating between $120 and $210 for over six months. Market sentiment for Solana remains positive, with potential for future gains if the consolidation pattern leads to a breakout. Rexas Finance is gaining attention for its innovative approach to RWA tokenization, integrating real-world assets into the blockchain.
The project’s presale has been successful and is projected to grow by 3,700% in value. Many individuals and companies are calling for real-world assets to be integrated with blockchains, making Rexas Finance a leader in this market. Rexas Finance’s decision to do a public presale instead of venture funding aligns with their community-first principle and offers opportunities for a wider range of investors. The cryptocurrency industry is seeing interesting updates with the success of Dogecoin, potential movements of Solana, and the growth of Rexas Finance. Each project offers something unique, from the community-oriented approach of Dogecoin to the innovative RWA tokenization of Rexas Finance. It is important to stay informed and ahead of the curve in this rapidly evolving market. Nigerians are finding investment opportunities in fixed income, commodities, and more, to safeguard their money during uncertain times.