When DOGS launched, it encountered several challenges. This game-like project allowed users to earn DOGS tokens by completing tasks and through referrals. A significant number of tokens were distributed, but as soon as the project launched, people began selling aggressively. The selling pressure and the rush to withdraw funds immediately took a heavy toll on the project. After launching at a price of 0.00054, DOGS initially surged to 0.0018046 before declining to 0.0011336. However, the downward trend didn't stop there; DOGS experienced another surge followed by a further decline to 0.0010432, placing the token in the oversold zone. Typically, when an asset enters the oversold zone, buyers push the price to new highs.
The situation was further complicated by the arrest of Pavel Durov, which impacted not only DOGS but also the entire TON blockchain. This event has increased volatility within the TON ecosystem. Many investors are holding onto their DOGS tokens, but there's a risk that they will start selling again at the first sign of a price increase. For DOGS to rise, these sellers need to be completely absorbed. Despite the current challenges, DOGS has the potential to rise. It's important to remember that this is a new coin that needs to build a solid foundation to reach higher levels. Without a strong base, it risks declining further.
The question remains: will DOGS rise? While the arrest of Pavel Durov introduces volatility, the potential for growth still exists if the selling pressure can be mitigated.
#EmperorMajesty #TON #DOGSONBINANCE #TelegramCEO #dogsday $TON $DOGS $NOT
The situation was further complicated by the arrest of Pavel Durov, which impacted not only DOGS but also the entire TON blockchain. This event has increased volatility within the TON ecosystem. Many investors are holding onto their DOGS tokens, but there's a risk that they will start selling again at the first sign of a price increase. For DOGS to rise, these sellers need to be completely absorbed. Despite the current challenges, DOGS has the potential to rise. It's important to remember that this is a new coin that needs to build a solid foundation to reach higher levels. Without a strong base, it risks declining further.
The question remains: will DOGS rise? While the arrest of Pavel Durov introduces volatility, the potential for growth still exists if the selling pressure can be mitigated.
#EmperorMajesty #TON #DOGSONBINANCE #TelegramCEO #dogsday $TON $DOGS $NOT
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