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#DOGS Full Analysis… $DOGS is currently trading at $0.0010425, with a significant daily trading volume of $1.5 billion. Despite recent dips, DOGS remains one of the top meme coins, holding a market cap of $531 million. Here’s the key insight: $DOGS touched a significant low but has shown a solid recovery, bouncing off key support areas, suggesting a potential upward trend. A recent breakout from its downtrend shows a change in momentum, possibly gearing up for a rally. However, it’s still showing some volatility, with price movements between $0.0009979 and $0.001149 in the last 24 hours. Outlook: Short-term: If $DOGS can hold above the $0.0010500 level, we could see a move toward $0.0013000. However, dipping below could result in further declines. Long-term: With strong trading volume and a stable position in the market, DOGS has room to grow. If it can maintain support above critical levels, a 45% rise is plausible, driven by growing market interest and investor activity. This analysis suggests that DOGS could soon be in for an exciting move. Keep a close watch
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-Analysts Anticipate Altcoin Outperformance and Bullish Q4 - Bitfinex’s analysts anticipate a potential shift in cryptocurrency market dynamics. With bitcoin’s dominance decreasing and altcoins showing resilience, they suggested that altcoins could outperform bitcoin in the coming months, especially if macroeconomic conditions improve. They discussed altcoin market capitalization growth, bitcoin’s declining dominance, and speculative exhaustion in altcoins as key indicators of this trend. Analysts Expect Altcoin Outperformance in Late 2024 The Bitfinex Alpha report, released on Monday, offers some predictions about the potential performance of the cryptocurrency market, particularly regarding altcoins. As bitcoin’s dominance declines and altcoins show resilience, the report suggests a potential shift in market dynamics. “As the sell-off took hold last week, bitcoin dominance, which measures the market capitalization of BTC against the rest of the crypto market decreased by 1.3 percent. In comparison, the market cap of all other crypto assets (excluding the top 10) increased by 4.4 percent,” Bitfinex’s analysts explained, asserting: Dare we say it, but the shift hints at a potential regime change where investors are exploring value in altcoins, diverging from the typical pattern of flocking to bitcoin. The analysts further detailed that altcoin open interest has declined by 55% from its all-time high, signaling reduced speculation and possible seller exhaustion. The ETH/BTC ratio remains below its 365-day Simple Moving Average, indicating broader underperformance of ETH since the Merge. The report adds: If bitcoin dominance has indeed reached a local top, we may see a period of altcoin outperformance in the coming months, potentially setting the stage for a bullish Q4 should macroeconomic pressures ease. #Binance #Bitcoin #ETH #BNB #btc
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