Date: Thu, Sept 05, 2024, 02:40 PM GMT
The memecoin “Dogs” is making headlines again as it breaks out of a recent slump, showing a 5.16% price increase in the past 24 hours. After its debut on August 26, DOGS initially held steady around the $0.0012 mark. However, a dip in Bitcoin (BTC) dragged the coin down to $0.0010.
Now, things are looking up. Crypto analyst @CryptoFaibik took to X (formerly Twitter) to shares that DOGS is breaking out of a “falling wedge” pattern on the hourly timeframe. He pointed out that this breakout occurred at $0.001020, which has since propelled the coin to its current price of $0.001070.
$DOGS is breaking out of Falling Wedge on the Hourly TF Chart..!!
— Captain Faibik 🐺 (@CryptoFaibik) September 5, 2024
Expecting +40% Bullish Rally in the Short term.. Don't miss the Ride.. 🚀🚀#Crypto #DOGS #DOGSUSDT pic.twitter.com/ce11L3qLE6
What’s more, @CryptoFaibik has locked in a bold target, forecasting a 40% price increase that could see DOGS rise to $0.001445 in the near future. He advised traders to keep an eye on this potential rally.
While such predictions offer hope, it’s essential to stay cautious in the ever-fluctuating world of crypto. Nonetheless, DOGS holders may have reason to be optimistic about this latest breakout.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice.
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