Will DOGS token reach $1?

DOGS reaching $1 will be a spectacular moment. The team recently backed declines in the token value by encouraging crypto enthusiasts to buy the dip. It aligns with their mission to reach the dollar mark in 2025. For reference, DOGS is currently exchanging hands at $0.0007298, down by 5.98% in the last 24 hours and up by 7.95% in the last 7 days. Analysts have put forward an alternate possibility by citing that the $1 mark could be achieved by the end of 2030.

Both sides have triggered a discussion about when the token will reach $1. What unites them is the milestone, which now serves as the focal point of every conversation. The primary interaction revolves around whether DOGS will ever reach that milestone. For one, it is plausible for DOGS to achieve that feat. Two, determining the timeline is challenging due to the impact of multiple factors such as volatility, overall market sentiments, and regulatory news on DOGS.

A recent report attempted to project a new high for DOGS specifically for October 2024. The month has 2 more weeks to go, and the prediction of $0.003241 is on the paper. Near-term predictions project that the surge could be 230.71% in the next 30 days, taking the value to $0.002474 from press time. It, hence, translates to the fact that the higher mark may not happen in October. If it does, then DOGS may not sustain that gain for a long time.

Meanwhile, crypto enthusiasts have started reacting to the post by DOGS published on X. Some of them said that they were bullish about it, while others stated that the mark of $1 was impossible to achieve in 2025. Some have even hinted that they are comparing DOGS with XRP, potentially indicating their preference for Ripple’s token, which may have its own ETF in the next year.

The current volatility of DOGS is 13.09%, indicating a relatively high level. The FGI, which measures 73 points for greed sentiments, indicates that investors are actively seeking to buy dips. Investors are willing to allocate their funds to the token when it is at its lowest levels. A rebound, if it happens eventually, will fetch profitable results. The same investors may end up creating selling pressure if the target is to make a movement in the short term only.

The 14-day RSI is 48 for neutral sentiments; however, overall sentiments are bearish for DOGS. Short-term price targets indicate an option to buy. The token could yield a 33.38% return by October 21, 2024. It goes without saying that investors could also lose their funds.

Started as an Internet meme, DOGS has gained a position on the crypto list by reaching the 151st position in terms of market cap, which is down by 4.62% right now. Staring in the top 200 cryptocurrencies is still a notable feat when it continues to aim for an aggressive milestone of $1 for 2025.