Many Telegram enthusiasts have been eagerly awaiting the Dogs airdrop as it is a meme coin and is linked to the Telegram founder’s past. The DOGS price also seems ready for a slight correction, which could allow buyers who missed the airdrop to acquire the TON-based token at a discount.
Successful Dogs airdrop and connection to Telegram founder
Following the arrest of Telegram founder Pavel Durov, the Dogs meme coin was listed on major exchanges such as Binance, Bytbit, and OKX. The Telegram-based app’s token DOGS was a huge success as the meme coin surged by almost 40% on August 27 and 28.
The logo for the Dogs token is based on Telegram founder Pavel Durov’s decade-old design, which may have contributed to the hype surrounding the meme coin. Regardless, there may be an opportunity to accumulate DOGS in a few days if investors are looking for an opportunity to acquire them after missing the first airdrop.
DOGS Price Analysis: Take Advantage of the Dip Opportunity Soon
DOGS price is showing signs of exhaustion after the 40% surge on August 27 and 28. The first sign of weakness or lack of buying pressure was seen when the Telegram-native app’s token crashed 17% yesterday and formed a lower low, signaling the end of the uptrend and the start of profit-taking. If the recovery rally produces a higher high above the August 28 swing high of $0.00167, it would indicate buying pressure. But DOGS has made a lower low, confirming the start of another correction.
Investors can expect a 5% retracement to $0.00144, which coincides with the two-day composite value range. If DOGS buyers manage to stay above the $0.00144 support level, the TON-based meme coin can spark a 10% rally to the next key hurdle at $0.00160.
On the other hand, a break below $0.0144 could push the DOGS price down by 14% and retest the next key standpoint at $0.00125, which is a good level to acquire the meme coin at a discount.
All in all, there are two ways to accumulate DOGS tokens – $0.00144 and $0.00125. However, if the DOGS price fails to break below $0.00144 and starts an uptrend from here, investors need to keep an eye on the $0.001600 level for a retest. If buyers fail to take profits here, the chances of maintaining an uptrend improve and the DOGS price could revisit the all-time high of $0.00180.
Frequently Asked Questions (FAQs)
The Dogs airdrop was highly anticipated due to its connection to Telegram founder Pavel Durov’s past and its status as a meme coin.
The DOGS price is showing signs of exhaustion after a 40% increase and is likely to correct, providing a buying opportunity for investors who missed the airdrop.
Investors can accumulate DOGS tokens at $0.00144 and $0.00125, which are likely to act as important support levels during the price correction.
Akash Girimath
Akash Girimath is basically an engineer but is interested in the chaos of financial markets. Akash is a senior reporter and analyst who also regularly trades cryptocurrencies and manages a small cryptocurrency fund for friends and family.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Conduct market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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