🚨 $DOGS/USDT ALERT 🚨
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Will DOGS Price Crash as 94% of Tokens Unlock Tomorrow?
DOGS, a Telegram-native meme coin, is facing a major price correction with a whopping 502.48 billion tokens set for release on August 26th during the Token Generation Event (TGE). This represents a staggering 91.4% of the total supply!
Key Highlights:
- Token Unlock: A massive 502.48 billion DOGS tokens will flood the market, with 72.7% allocated for a community airdrop. This could lead to significant supply pressure and a potential price crash.
- Price Action: DOGS has gained momentum after being listed on Gate.io and included in Binance’s 57th launch pool. However, the $0.001 level stands as a critical support that buyers must defend amid the incoming token unlock. Currently, DOGS is trading at $0.0021, but the influx of tokens could push the price down by 50% or more.
- Market Impact: If the selling pressure intensifies, DOGS could plummet to $0.0008, a psychological support level. However, if buyers manage to hold the $0.001 support, the token might recover and aim for $0.0052.
Post Token Unlock Analysis:
- Immediate Crash: Following the token unlock, DOGS experienced a sharp 95% drop to $0.0001 but quickly rebounded to $0.00128 as buyers sought to reclaim key support levels. This recovery could indicate sustained demand at these lower prices, potentially stabilizing the market.
Insight: Token unlocks of this magnitude often lead to increased volatility, as large amounts of tokens are released into circulation, diluting the market. The community airdrop could accelerate user participation, but it also poses risks of significant price fluctuations.
With DOGS gaining traction among Telegram’s vast user base, the upcoming days will be crucial. Traders should watch the $0.001 support level closely, as holding this line could prevent further downside and set the stage for a potential rebound.
