- DOGS meme token on TON Network shows potential for an upside breakout from a descending channel pattern.
- Strong community support and planned token burn fuel bullish sentiment for DOGS, with possible gains over 70%.
Built on the TON blockchain, the meme coin DOGS is attracting a lot of interest since an analyst suggests a possible breakout. In the 4-hour time frame, DOGS is positioned for an upside breakout from a descending channel pattern, claims popular crypto analyst Captain Faibik in a tweet.
DOGS Token Poised for RallyÂ
This forecast is mostly based on the development of a higher low, a crucial indicator implying that a higher high might shortly follow. This framework prepares the ground for a potential price rally of more than 70% in the next few days.
Meanwhile, DOGS is trading at about $0,00077 at the time of writing, up impressively 9.01% over the last 24 hours and 16.06% over the last 7 days. This consistent expansion has driven the market cap of the token to surpass $400 million, therefore highlighting the rising demand for DOGS in the market.
Given technical indicators that match optimistic projections, the token’s performance over the past few days has sparked more conjecture that its path may keep upward.
To add to the thrill, a prior CNF report revealed a notable change about DOGS’ future supply. According to the paper, a $4 million burn plan involving DOGS and Notcoin tokens is meant to lower the circulating supply, possibly causing the token’s scarcity.
This burn plan may inspire an even more positive attitude given reduced supplies and great community support. The community’s active participation in choosing the token burn has raised investor confidence since many speculate that the limited supply could inspire a price increase after the burn.
