DOGS Price Soars 21% After Telegram CEO Pavel Durov Is Charged And Released, But Investors Flock To This Base Meme Coin Before Its DEX Launch

The DOGS Value surged 21% within the final 24 hours to commerce at $0.001515 as of three.30 a.m. EST on buying and selling quantity that skyrocketed 96% to $2.05 billion.

DOGS is a vibrant, community-driven mission constructed on the TON blockchain. It was designed to leverage Telegram’s huge consumer base and native meme tradition, that means that its ties to the platform are sturdy. Telegram-related developments can usually have a powerful influence on the altcoin’s worth as nicely.

It’s value noting that it is a newly-listed crypto that has been round for underneath two days. Nevertheless, its demand already introduced it to the listing of the biggest meme cash by market cap. Extra importantly, the mission had a powerful response to latest studies involving the Telegram CEO, Pavel Durov, who was arrested in France on Aug. 24.

His arrest got here on account of his connection to the platform which is usually used for unlawful actions, in keeping with French authorities. Durov was nonetheless charged, positioned underneath judicial supervision, and launched from custody. He could not go away France till the top of his trial, and he additionally needed to pay bail of 5 million EUR earlier than being launched.

DOGS Value Prediction

The DOGS worth noticed a significant surge following its launch, just for its worth to then right fairly sharply after encountering the bearish sentiment that at the moment nonetheless has a powerful maintain on the crypto market. Its worth tried to climb greater within the final two days, however a significant barrier at $0.0016 has stood in its means.

There are a number of technical indicators that recommend that the DOGS worth is extra more likely to right than to interrupt the resistance. Its Bollinger Bands, for instance, have seen a pointy narrowing within the final 12 hours, and whereas the value initially caught to the higher band, it’s now pushing the decrease band additional down.

Each the narrowing and the value sticking to the decrease band are bearish indicators that recommend an upcoming correction.

In the meantime, the mission’s Relative Energy Index (RSI) worth, which fluctuated across the impartial zone for over 12 hours now, continues to take action, with the fluctuations changing into sharper and stronger. This isn’t shocking given the truth that the token has been in circulation for under two days, and it has but to stabilize.

The RSI means that sturdy volatility might be anticipated, as merchants see main waves involving each gross sales and purchases. It’s value noting, nonetheless, that the value may find yourself all of a sudden sinking, particularly if the RSI drops to the oversold space. If the bulls take over the market, additionally it is potential for the DOGS worth to enter a rally and doubtlessly skyrocket as a substitute of dropping or stabilizing.

Being a brand new mission, DOGS lacks historic information that might present extra correct insights, however one factor that’s sure is that the mission represents a high-risk funding at the moment, so anybody who decides to purchase DOGS needs to be conscious of the dangers.

Promising Various To DOGS

With DOGS displaying indicators of an upcoming worth drop, traders are turning to a brand new meme coin generally known as Base Dawgz (DAWGZ). The brand new dog-based meme coin developed on the Base blockchain simply concluded its ICO yesterday, elevating a complete of $3.19 million.

The $DAWGZ presale has ended!

You’re nonetheless in a position to purchase the token at itemizing worth for those who so want. Please keep tuned for more information.

DEX launch date: 4 September 2024, 5pm CET 🪂 pic.twitter.com/B9gFx6Yju6

— Base Dawgz (@BaseDawgz) August 28, 2024

Now, the mission is ready for its first DEX listings, which is when its worth is anticipated to surge. Based on the mission’s web site, the itemizing will are available in somewhat over six days, however even now, the mission nonetheless permits traders to purchase its native token. DAWGZ sells for $0.008582, and shopping for it now represents an excellent alternative for individuals who failed to hitch the ICO.

The rationale why DAWGZ is seeing nice demand and hundreds of thousands of {dollars} in funding is its huge potential as a multi-chain meme coin.

Regardless of being developed on Base, the token will go reside on 5 blockchains concurrently, together with Ethereum, Solana, Avalanche, Binance Good Chain, and the Base community, permitting DAWGZ holders to simply transfer cash between these chains.

That is potential due to cross-chain applied sciences akin to Wormhole and Portal Bridge, and it’ll permit DAWGZ holders to simply entry the distinctive advantages of every chain.

The mission attracted a whole lot of consideration, together with from crypto consultants akin to YouTuber ClayBro. He stated that the meme coin is without doubt one of the prime mission’s to build up.

Go to DAWGZ’s official web site.

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