DOGS price, a new meme coin on the TON blockchain, is catching the attention of cryptocurrency enthusiasts with its promising performance. The value of DOGS is on the rise, demonstrating a robust bullish pattern. This surge coincides with a notable increase in Toncoin’s value as well. Anticipation of potential gains has intensified following a recent announcement from Binance about DOGS.
DOGS Price Surges Following Latest Binance Announcement
Binance is set to expand its offerings by introducing a new DOGSUSD COIN-M perpetual contract. This upcoming addition will support up to 20x leverage. Additionally, Binance Futures has plans to unveil USD-margined perpetual contracts for NULS and DOGS. These will feature leverage possibilities of up to 75x.
Binance Launchpool has announced the inclusion of Dogs (DOGS) in a related development. Users can now farm DOGS by staking BNB and FDUSD tokens. This series of expansions highlights Binance’s commitment to diversifying its financial products and enhancing user engagement through innovative trading opportunities.
DOGS Price Forecast: Will the MEME coin Hit $0.002?
Over the past 24 hours, top meme coin crypto prices have experienced notable fluctuations. The DOGS price saw a low of $0.0009972 and a high of $0.001113, indicating a volatile market environment. The surge in price aligns with an increase in other cryptocurrencies, leading to a broader market rally.
As of the time of writing, the DOGS price hovered at $0.001054 during the U.S. trading hours, a surge of 5.36% from the previous day. This performance comes just days after the token recorded its all-time low at $0.0009377, reflecting a significant rebound amidst fluctuating trading volumes.
The 4-hour technical indicators for DOGS price on Binance present a mixed sentiment. The Moving Average Convergence Divergence (MACD) line shows a slight bearish crossover with its signal line, suggesting short-term downward price movement.
The Relative Strength Index (RSI) is at 51, indicating neither overbought nor oversold conditions, which points to a stabilization in the price after recent fluctuations.
The price of DOGS is currently on an upward trend, with recent increases showing positive momentum. The top altcoin is approaching a resistance level at $0.0012. If it breaks through the $0.0015 mark, we might see a continued rise.
If DOGS mounts more pressure, it could rally to $0.0017 and even $0.002 if the upward trend persists. This scenario suggests a strong bullish outlook for DOGS in the trading market.
Frequently Asked Questions (FAQs)
DOGS is a meme-based cryptocurrency launched on the TON blockchain, inspired by Telegram’s character Spotty, designed to leverage the strong community support of Telegram users.
Despite broader market downtrends, DOGS had a strong opening on major exchanges like Binance, capturing significant attention and trading volume.
Meme-based cryptocurrencies often experience high volatility due to market sentiment, social media influence, and speculative trading, rather than fundamental economic factors.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/how-will-dogs-price-react-to-the-latest-binance-announcement/
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