DOGS Price Predictions are Very Difficult to Increase, What is the Reason?

Bittime - The DOGS token, which experienced spectacular growth of up to 150% after entering popular exchanges such as Binance. However, now the meme coin is facing serious challenges. 

The price of this token fluctuates annually, and only on the last day, the price fell to $0.001303 (Rp. 20).

Why do DOGS prices tend to decrease? What is the future DOGS price prediction? Check out the review in this article!

DOGS Prices Decrease

This sharp drop underscores how volatile the crypto industry is, especially for memecoins like DOGS.

Despite recent difficulties, DOGS has managed to outperform several other popular memecoins. However, this success has been overshadowed by the major challenges the token has faced since the Token Generation Event (TGE) on August 26.

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During TGE, 502.48 billion DOGS tokens were released. As many as 400 billion of them were distributed as part of a massive airdrop. 

This move, which was aimed at increasing user engagement and token circulation, actually caused significant selling pressure. This has a major impact on the price of the token.

Pavel Durov's arrest makes it difficult for DOGS prices to rise

Additionally, the arrest of Pavel Durov, a key figure associated with the DOGS token, has further dimmed market sentiment. 

Durov's arrest in France on several charges, although followed by his release on $5 billion (Rp. 77.5 trillion) bail, has created uncertainty around the tokens associated with him.

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This has contributed to the bearish trend seen in the DOGS token, as investors have become increasingly concerned about the risks involved.

The combination of TGE-induced selling pressure and negative sentiment resulting from Durov's legal troubles has put DOGS in a precarious position. While the token initially showed potential with a rapid price increase and strong market presence, it is now facing challenges to recover from this setback.

Despite these headwinds, the underlying interest in DOGS, as evidenced by its ability to outperform many competitors immediately after its launch, suggests that there is still ground for recovery.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via 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. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.