DOGS token is currently gaining traction in the cryptocurrency market and shows significant bullish potential. Well-known crypto analyst Alan Santana on TradingView states, “DOGS is extremely bullish at the moment, with consolidation taking place above support.”
As each day passes, the chart becomes more robust. Santana points out that the token’s current momentum is surpassing important thresholds, indicating a continuous increase in DOGS. He mentioned, “We are currently at the highest price since October 2024, and soon we will reach the highest since September; DOGEUSDT continues to climb.”
DOGS Strengthens with EMA55 and 6X Trade Setup
The EMA55 line serves as a crucial technical indicator supporting this positive outlook. Santana observed that while the token briefly dipped below this level in the latest session, it quickly rebounded and closed in the green.
The EMA55 also aligns with the 0.618 Fibonacci extension level, a significant zone in technical analysis that sometimes signifies strong support. Santana remarked, “We are on an upward trajectory, and we have a leveraged trade with 6X that is poised to take off,” highlighting the strength of this memecoin. Patience is key.
In addition to the optimistic sentiment, DOGS has experienced a notable price surge, currently trading at around $0.0008. With a 5.11% increase over the past 7 days, this pushes its market capitalization above the $400 million mark.
Due to its strong bullish setup in the short term, another crypto analyst suggested that DOGS could potentially yield returns of up to 70%, as reported by CNF previously. Strategic tokenomics and robust community support also play a significant role in DOGS’ momentum. A scheduled token burn of $4 million aims to reduce the circulating supply.