DOGS Price Increase Will Reach 40%, This is Crypto Expert Analysis

Bittime - DOGS continues to be in the spotlight in the crypto world. Since its launch, DOGS has experienced significant price fluctuations, leaving investors wondering about the coin's future. The following is an analysis of the current DOGS price according to analysts.

Token Distribution and Beginning of the Journey

DOGS has a total supply of 550 billion tokens, with the majority having been distributed to Telegram users based on their activity.

This distribution model succeeded in attracting quite a large interest from the crypto community, but also raised several questions regarding the concentration of token ownership.

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DOGS Highest and Lowest Prices

On August 28, DOGS reached an all-time high of $0.001633, marking a significant milestone for the memecoin. However, this euphoria did not last long. 

Shortly after reaching the peak, DOGS prices plummeted by 32%, showing the high volatility typical of crypto markets.

In fact, within 11 hours, DOGS touched an all-time low, trading at $0.0009802.

This sharp decline certainly surprised many investors who had placed high hopes on this memecoin.

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Signs of DOGS Price Recovery

Despite the significant decline, DOGS is showing signs of recovery in recent days.

At the time of writing this article, DOGS price has risen about 9% and is trading at $0.001094. This increase provides a little hope for investors who still believe in the potential of DOGS.

Technical Analysis and Bullish Predictions

In the midst of high price volatility, renowned crypto analyst, Captain Faibik, gave a bullish prediction for DOGS. 

According to the analysis, DOGS has managed to break out of the “Falling Wedge” pattern on the hourly timeframe chart.

This pattern often indicates the potential for significant price increases in the near future. Captain Faibik estimates DOGS will experience a bullish rally of 40% in the short term.

Whale Activities and Open Interest

Apart from technical analysis, DOGS fundamentals also provide some interesting clues. 

Data from IntoTheBlock shows a significant decrease in the number of whale transactions (transactions with a value of more than $100,000). 

This indicates that large investors' interest in DOGS may be declining.

On the other hand, DOGS Open Interest, which is a measure of the total value of derivative contracts in circulation, actually experienced a significant increase.

This increase in Open Interest shows that traders are increasingly interested in taking positions on DOGS, both buying and selling positions. This could trigger higher price volatility in the future.

Conclusion

DOGS, as one of the rising memecoins, has succeeded in attracting the attention of many investors.

However, investors need to be careful because memecoins generally have high volatility. 

Despite bullish predictions from some analysts, investors are advised to conduct in-depth research before deciding to invest in DOGS.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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