In the context of taking advantage of the TON ecosystem,
Is DOGS brewing a strong rebound?
The following key information may help you determine whether you should include DOGS in your investment portfolio.
As the market's selling pressure gradually subsides and a slight rebound occurs, DOGS may usher in a bullish opportunity.
DOGS has endured six weeks of volatility since its listing, initially rising for three consecutive days, but a broad selloff in September saw it give back most of its gains. However, DOGS has performed well recently, rallying 23% over the past two days, showing bullish potential, especially as the sell-off stabilizes in early October.
While DOGS is showing signs of accumulation at its bottom range, it needs more liquidity to support its rise. Recent on-chain data shows positive signals. TON has 5.6 million currency-holding addresses. Although the number of addresses has declined, the total number still reaches 12.05 million. Zero balance addresses have leveled off, indicating easing selling pressure. However, address activity has not increased significantly and DOGS has yet to demonstrate strong accumulation momentum.
Overall, DOGS has the potential for a bullish recovery, but more on-chain activity is needed to confirm this trend.
