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The DOGS price dropped 13% in the last 24 hours to trade at $0.001087 as of 00:28 a.m. EST on trading volume that rose 17% to $512 million.
This comes as the crypto market tumbled 3% in the last 24 hours to a $2.1 trillion capitalization. Similarly, tokens in the TON ecosystem took a hit as well, with TON dropping 5% and NOT dropping 6%.
DOGS Price Bearish – Can There Be A Rebound?
The DOGS price has invalidated the rounding bottom pattern formed between Aug. 27 and Aug. 29 to drop from the $0.001539 resistance zone, according to data from GeckoTerminal.
The price of DOGS has also been dropping from within a falling channel pattern and has since crossed below the channel’s lower boundary.
DOGS now trades below the 50 Simple Moving Average (SMA) on the 1-hour chart, which is an indication that the asset is now in a bearish trend.
Moreover, the Relative Strength Index (RSI) still trades below the 30-oversold region, currently at 26, but it is showing signs of rebounding.
The RSI shows that DOGS is currently undervalued, which offers buyers an opportune time to enter the market. If the buying picks up at this level, DOGS may soar over the falling channel, with $0.001435 acting as the target.
However, if the selling continues, the price of DOGS may plunge further to the $0.000990 support zone.
Meanwhile, other meme coin lovers are rapidly shifting their assets to the new project Crypto All-Stars (STARS).
According to Jacob Bury, a popular crypto YouTuber, STARS has the potential to surge 10X after its launch.
Crypto All-Stars Raises Over $909K, Racing To The $1 Million Mark
The Crypto All-Stars presale is rapidly gaining attention in the meme coin community, having raised over $909K.
This new meme coin introduces the industry’s first unified staking protocol, MemeVault, which allows top meme coins to be pooled together to earn rewards in STARS.
With the upcoming launch of MemeVault, the STARS token will also be crucial for multiplying the staking rewards that top meme coins can return for investors. This is likely why there has been a buying frenzy around STARS ever since the Crypto All-Stars presale kicked off just over two weeks ago.
Crypto All-Stars plans to integrate with big names like $Pepe, #Dogecoin, and #ShibaInu . 🔗
This cross-pollination could skyrocket the platform's visibility and adoption!
— web3telepath (@web3telepath) August 15, 2024
MemeVault allows investors to stake popular meme coins including Pepe, Dogecoin, Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk to earn substantial rewards in STARS, which is the platform’s native token. More staking options will be added in the coming months.
In addition to staking other meme coins, users can also stake STARS tokens directly to unlock an impressive annual percentage yield (APY) of 1,569%.
You can buy STARS tokens for $0.0014191 each. However, with a price increase coming in about two days, you should act fast to get the meme coin at the best possible price.
Purchase STARS from its official website here using BNB, USDT, or a bank card.
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