The ongoing bullish run in the broader cryptocurrency sector has also made an impressive impact on memecoins. Notably, DOGS, a memecoin built on The Open Network (TON) blockchain, has recorded significant milestones in its price performance. The shift comes after a long spell of price fluctuations that has seen the token struggle to breach critical resistance levels.
DOGS Performance Hits “Highest Weekly Candle”
Dan Gambardello, a renowned crypto analyst on X, considers DOGS’ recent performance a critical moment. He believes it could reposition the token for major growth. Gambardello shows that the memecoin closed its “highest weekly candle” ever in the DOGS’ price performance chart.
According to data, DOGS’s price stood at $0.0006861 as of this writing. However, within the past 24 hours, the token has traded between a low of $0.0006258 and a high of $0.0006914. The memecoin attempted to test the $0.00070 resistance level before retracing to its current level.
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Despite this, the memecoin hit $800 million in volume, fueled by its record-high weekly close. This notably signals the token’s bullish momentum. It also indicates growing investors’ confidence in the TON ecosystem overall.
This trend prompted Gambardello to label it the “most epic memecoin story in crypto.”
He predicts that DOGS might become renowned in the memecoin space, possibly flipping established rivals like Dogecoin and Shiba Inu.
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Mixed Performances Among TON Tokens
Meanwhile, the TON ecosystem has experienced a limited rally overall. Toncoin, the leading coin in the ecosystem with a market capitalization of $14.10 billion, is down Week-to-Date (WTD.
In trading, Toncoin’s price hit $5.79, only to plunge to its current price of $5.54. Despite the broader bullish sentiment, Toncoin has failed to meet investors’ expectations during this bull run. The coin could not test its previous high of $8.17, which it set in June 2024.
Similarly, Notcoin (NOT) has struggled in its rebound moves. Despite climbing from a low price of $0.005647 on November 4 to the current price of $0.007705, it could not breach the $0.0080 resistance.
NOT has fluctuated between $0.007356 and $0.007708 in the past 24 hours as bullish sentiments from the community continue to support it.
Despite several price rebound attempts in the last seven days, Hamster Kombat could not cross the $0.0045 resistance level. The coin changes hands at $0.004085, up 1.67% in the last 24 hours.
Catizen (CAT), on the other hand, recorded an impressive price surge compared to the others in the TON ecosystem. CAT’s price has soared by a remarkable 57.87% within the last seven days. The token recorded an impressive surge from a low of $0.3603 to its current price of $0.6656.
What is the Future Outlook for DOGS?
Although DOGS has not maximized the ongoing bullish trend in the crypto space, market trend observers remain optimistic about its future performance.
In December, analysts predicted that DOGS could rise to a maximum price of $0.0089 and a minimum of $0.004110. Thus far, the token’s average price is set at $0.006890.
The projection for 2025 shows promise as speculations have pegged DOGS’ average price at $0.011. The maximum and minimum prices are $0.015 and $0.0098, respectively. The community sentiment remains bullish, and investors hope the memecoin will soar with improved sentiments moving forward.
Disclaimer
The information provided in this article is only for educational and informational purposes and should not be considered financial or investment advice. We are not licensed financial advisors. Always conduct your research and seek guidance from a certified financial professional before making any investment decisions.
