Against the backdrop of DOGS' dominance in the TON ecosystem, is DOGS brewing a strong rebound? The following key information may help you determine whether to include DOGS in your investment portfolio.
As the selling pressure in the market gradually weakens and a slight rebound occurs, DOGS may have an opportunity for an upward trend. Since its listing, DOGS has experienced 6 weeks of volatility, initially rising for three consecutive days, but the widespread selling in September caused it to give back most of its gains. However, DOGS has recently performed well, rebounding 23% over the past two days, showing its bullish potential, especially in the context of stabilizing selling pressure in early October.
Although there are signs of accumulation in the DOGS' bottom range, it needs more liquidity support to drive the upward trend. Recent on-chain data shows positive signals, with TON having 5.6 million holding addresses, although the number of addresses has declined, the total still reaches 12.05 million. The zero-balance addresses tend to be stable, indicating that the selling pressure has eased. However, the increase in address activity has not been significant, and DOGS has not yet shown strong accumulation momentum.
Overall, DOGS has the potential for a bullish recovery, but it needs more on-chain activity to confirm this trend.
