It has been more than six weeks since the memecoin DOGS launched. DOGS initially surged in price in its first three days and has since lost almost all of those gains as selling pressure took over in September.
However, it appears that DOGS has run out of bearish momentum, which increases the likelihood of a recovery in the coming weeks.
DOGS just had its best performance in the past six weeks, thanks to the 23% gain it made in the past two days.
This is a sign that this memecoin could be on the verge of a potential price increase, especially considering the selling pressure has been steady over the first 10 days of October.
DOGS is trading around $0.000768 at press time. Its MFI shows that liquidity has returned to memecoin since the beginning of the month, thus forming a bullish accumulation.
Source: TradingView
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