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The Dogs price has plunged 6% in the last 24 hours to trade at $0.0006754 as of 00:31 a.m. EST on trading volume that surged 51% to $281 million.
Dogs Price Aiming For A Breakout
The Dogs price is in a downtrend, characterized by a series of lower highs and lower lows since early September. The falling wedge pattern drawn on the chart reinforces this downtrend.
However, toward the right side of the chart, we see that the Dogs price is consolidating in a sideways range within the $0.000690 range, which could indicate the formation of a potential reversal pattern or accumulation phase, according to data from GeckoTerminal.
The price of Dogs now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the recent downtrend.
The RSI is currently at 43.26, which is in the neutral to slightly bearish zone (30-50 range). This suggests that the asset is not oversold or overbought, but it’s leaning toward bearish momentum.
If the bears win the struggle for dominance at this level, the price of Dogs could plunge further back to the $0.00055 support zone.
Conversely, If the price breaks above the top of the rectangle and gains momentum, it could aim for the 50-day SMA at 0.0006876 or possibly higher, as the bulls target $0.0012.
As the Dogs price dumps, investors looking for new opportunities might consider the new meme coin Crypto All-Stars (STARS), which has raised more than $2.1 million in presale.
ClayBro, a prominent crypto analyst with over 130K subscribers, says STARS has the potential to soar 26X after its launch.
Crypto All-Stars Closes On $2.5 Million
Crypto All-Stars is sucking in about $260,000 every week as investors buy into the industry’s first unified meme coin staking platform.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
It allows the top meme coins in the space, including Dogecoin ($DOGE), Shiba Inu (SHIB), and Pepe ($PEPE), to be staked together, enabling their holders to earn a singular reward—the native $STARS token—through its innovative MemeVault protocol.
In all, it will be possible to stake 11 meme coins on the platform, with the other eight being Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More will be added in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers a humongous 691% annual percentage yield (APY).
You can buy the token now for $0.0014887. But the price will increase in just minutes, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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