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The DOGS price dropped 5% in the last 24 hours to trade at $0.001139 as of 03:56 a.m. EST on trading volume that plunged 44% to $910 million.
This comes as the campaign for the release of the Telegram CEO Pavel Durov intensifies, with the #FreeDurov trend gathering momentum.
Durov was arrested over the weekend as part of an initial probe into charges involving fraud, drug trafficking, cyberbullying, organized crime, and propaganda of terrorism in the messaging app.
DOGS Price Bearish – Bulls Aim For A Rebound
Since its launch, the price of DOGS has been on a downtrend, mainly due to the selling pressure from investors who benefitted from their anticipated airdrop.
However, according to data from GeckoTerminal, DOGS has found support at $0.001116, which has resulted in its price trading within a descending triangle pattern.
DOGS has since plunged below the 50 Simple Moving Average (SMA) on the 15 minute chart, supporting the bearish trend.
In addition, the Relative Strength Index (RSI) is on a downward trend below the 50-midline level, indicating that DOGS is currently under intense selling pressure.
If the selling pressure intensifies, the price of DOGS could plunge further back to the $0.0010 support, giving the bears the opportunity to capitalize on the descending triangle pattern.
However, if the DOGS price breaches the upper boundary of the triangle, the bulls may stage a rebound and target $0.001484.
As the DOGS price aims for a bullish rally, investors are rushing to buy the new DOGE derivative PlayDoge (PLAY), with only one day left until it launches on a decentralized exchange.
According to analysts from the 99Bitcoins YouTube channel, PLAY could soar 100X after launch.
PlayDoge: A Worthy Alternative—Last Chance To Buy
PlayDoge is a mobile-based play-to-earn (P2E) game that transforms the DOGE meme into a Tamagotchi-style virtual pet. Users can earn PLAY tokens.
PlayDoge has distinguished itself by blending the nostalgic appeal of 90s virtual pets, such as the Tamagotchis, with blockchain technology.
The project focuses on creating a platform where users can earn rewards by engaging in various gaming activities, all while capitalizing on the viral popularity of the Doge meme. Players adopt, care for, and train their virtual Doge pets to keep them content and healthy.
Don’t ghost your #Doge or it’ll die 👻
Feed your Doge, earn rewards, and level up. No mazes, just fun!#Presale has launched! 🙌#PlayDoge #P2E #Memecoin pic.twitter.com/Fp2sFwycpj
— PlayDoge (@PlayDogeGame) May 31, 2024
Beyond entertainment, players earn PLAY tokens by tending to their pets and participating in in-game activities.
The platform also allows PLAY token holders to earn a passive income through a staking option, where users can easily stake their tokens for 71% annual rewards.
After garnering over $6.3 million in its presale, the team is now preparing to launch the token on DEX tomorrow, Aug. 29, at 10 p.m. UTC.
You can buy PLAY tokens for $0.00532 each. The token launches tomorrow on DEXs, so buy soon to acquire the token before it enters the open market.
Purchase PLAY from the official website using BNB, USDT, or a bank card.
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