DOGS Ton-Based Memecoin Price Action Puts a Roller Coaster to Shame

DOGS, the latest Ton-based memecoin, recently saw its price action put a roller coaster to shame. Despite the token's multiple listings across various exchanges

Memecoin season is back in full swing, and the latest Ton-based token to hit the scene is called DOGS. After multiple exchange listings, traders have been keeping a close eye on DOGS’s price action, which has seen some serious setbacks—and some recovery—before the roller-coaster ride continues.

DOGS Price Action Not For The Weak-Hearted

The DOGS/USD pair price action took a hit after its Binance listing on Aug. 26, giving many traders a mini heart attack. But in a move that would make Nolan’s Batman proud, the memecoin recovered and closed the day with a gain of 42.62% on the Gate.io exchange.

Don’t let that fool you into thinking that the token is in the clear, though. The DOGS/USD trading pair failed to convert its Aug. 26 recovery into a rally. As a result, the token now faces bearish pressure around the $0.002 price level.

The latest Ton-based offering fell by almost 2% on Aug. 27, reaching a low of around $0.0012. Any further downtrend from here will bring the support near $0.00067 into play. Furthermore, failure at the immediate support may cause the DOGS price to test the support near $0.0033 before recovering.

On the other hand, if the bulls manage to start an uptrend, the DOGS price could rally up to the resistance near $0.00214. Breaking and consolidating above this resistance level might help the memecoin target the resistance near $0.0049.

The relative strength index for the Dogs token remained neutral, notching a score of 33.45 on the daily charts.

Bot Traders Get Banned, But Price Remains Volatile

The DOGS community recently made a move to maintain the integrity of its airdrop distribution. Any accounts that were found to be using bot farms to exploit the airdrop were removed, and their rewards were frozen on the exchanges.

While the number of affected accounts was small, this measure ensures that only genuine participants receive the airdrop.

The token recently grabbed attention following its Binance listing on Aug. 26. Binance’s involvement positioned the memecoin prominently in the market. Still, concerns have arisen due to the rushed timeline and limited transparency from the development team.

The token’s listing on other major exchanges, like OKX, KuCoin, Bitget, and Gate.io, reflects strong interest but also presents the possibility of a sell-off risk as trading gains momentum on these platforms or the token makes substantial gains.

Bitget introduced zero transaction fees for DOGS/USDT trading until Aug. 27. However, the lack of clear information about the DOGS development team remains a concern for its long-term prospects. The token’s future depends on its integration within the Telegram ecosystem and ongoing community participation.

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