What's next for DOGS? | Credit: Hameem Sarwar/CCN
Key Takeaways
- Dogs, a memecoin based on the Toncoin blockchain, came out in August 2024.
- The token has been hovering around the lower reaches of the top 100 cryptos by market cap since its launch.
- Our DOGS price prediction suggests it can reach $0.00021-$0.00031 by the end of 2024.
DOGS is a memecoin which came out in August 2024. Although it found its way into the top 100 cryptos by market cap pretty quickly, its launch was mired in controversy when it got blamed for a halt in Toncoin block production.
DOGS did not immediately respond to a request for comment.
On Sept. 10 2024, DOGS was worth about $0.001075.
Let’s take a look at our Dogs price predictions, made on Sept. 10, 2024. We will also examine the Dogs price history and talk a little about what Dogs is and what it does.
DOGS Price Prediction
Here are our DOGS price predictions made on Sept. 10, 2024. Since DOGS only has a price history going back less than one month, we will use the daily rate of decrease to make predictions for the end of 2024 and 2025. Keep in mind that price predictions, especially for something as potentially volatile as cryptocurrency, often turn out to be inaccurate. However, we have taken the utmost care in making these forecasts.
We will then add and remove 20% from the targets to come up with our minimum, average, and maximum DOGS price predictions.
| Minimum DOGS Price Prediction | Average DOGS Price Prediction | Maximum DOGS Price Prediction | |
|---|---|---|---|
| 2024 | $0.00021 | $0.00026 | $0.00031 |
| 2025 | $0.00007 | $0.00008 | $0.00009 |
DOGS has declined by 12% in the 14 days since its launch, for a daily rate of decrease of 0.86%. Using an exponential rate of decay leads to a DOGS price prediction of $0.00026 and $0.00008 for the end of 2024 and 2025, respectively.
Since the data only goes back two weeks, it is not possible to make a price prediction for the end of 2030.
DOGS Price Prediction 2024
Our wave count method gives a DOGS price prediction range of $0.00021-$0.00031 for the end of 2024.
DOGS Price Prediction 2025
Our wave count method gives a DOGS price prediction range of $0.00007-$0.00009 for the end of 2025.
DOGS Price Analysis
The two-hour DOGS chart shows a decrease under a descending resistance trend line since Aug. 28.
The decrease led to a low of $0.00092 on Sept. 8. The price bounced afterward, breaking out from the trend line and reaching a high of $0.00112.
Because of the breakout from the long-term resistance, DOGS will likely reach at least the 0.382 Fibonacci retracement resistance level at $0.00121 before a reversal.
Short-Term DOGS Price Prediction
The short-term DOGS price prediction hinges on an increase toward the $0.00121 Fibonacci retracement resistance level.
If a similar rate of increase follows, DOGS will drop in the short term and then gradually increase toward the resistance, reaching it by Sept. 12.
Dogs Average True Range (ATR): DOGS Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Sept. 10 2024, Dogs ATR was 0.00202, suggesting low volatility.
Dogs Relative Strength Index (RSI): Is DOGS Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. On Sept. 10 2024, the Dogs RSI was at 48, suggesting it was neither overbought nor oversold.
Dogs Price Performance Comparisons
Dogs is one of many memecoins, so it makes sense to compare its performance with similar cryptos.
DOGS Price History
Let’s take a look at some key dates in the short price history of Dogs . We need to point out that past performance should never be taken as an indicator of future results, but it does give some context to a DOGS price prediction.
| Time period | DOGS Price |
|---|---|
| Last week (Sept. 3 2024) | $0.00116 |
| Launch price (Aug. 27 2024) | $0.001218 |
| All-time high (Aug. 28 2024) | $0.001644 |
| All-time low (Sept. 8 2024) | $0.0009377 |
Dogs Market Cap
The market capitalization, or market cap, is the sum of the total number of DOGS in circulation multiplied by its price. On Sept. 10 2024, Dogs market cap was $556 million, making it the 100th-largest crypto by that metric.
Dogs Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 550,000,000,000 |
| Circulating supply (as of Sept. 10 2024) | 516,750,000,000 (93.95% of maximum supply) |
What is DOGS?
Dogs is a speculative memecoin based on the Toncoin blockchain.
How Dogs Works
People can hold DOGS in the hope that its value will go up. Meanwhile, people can buy, sell, and trade it on exchanges.
Is Dogs a Good Investment?
It is difficult to tell. While Toncoin is not exactly well served for memecoins, it is hard to see what else DOGS brings to an increasingly-crowded market sector. Also, not only does DOGS lack a whitepaper explaining what it is and what it does, but it does not even have a website. Therefore, investors seeking clarity might well want to look elsewhere.
Will Dogs Go Up or Down?
No one can really tell right now. While the Dogs crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I Invest in Dogs?
Before you decide whether or not to invest in Dogs, you will have to do your own research, not only on DOGS, but on other, related, coins and tokens such as Shiba Inu (SHIB). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Technical analysis by Valdrin Tahiri.
FAQs
Will DOGS reach $0.01?
Our analysis of DOGS suggests that it will be a very long time, if ever, before DOGS can break past the cent barrier.
What is DOGS used for?
Dogs is a speculative memecoin that traders can buy and sell on exchanges.
