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Can DOGS Reach $0.05? | Bull Market Price Targets Reveals Higher Heights

 

By Market Steam Dec 20, 2024. 

 

 

DOGS, the Telegram meme sensation, has been a major crypto asset on several investor's watchlist, speculated to be a good long-term bet. 

 

Since its debut on Binance launchpool and subsequent spot market listing in August, DOGS has become a major player and common talk of the town amongst crypto enthusiasts. 

 

As a product of Notcoin’s success and close collaborative building by both teams, DOGS has achieved great growth and attracted numerous believers and partnerships. Held on-chain by more than 5.02 Million wallets, 92.61 Billion DOGS, representing over 16% of it's total supply, are held by retail according to CoinMarketCap holder's data.

 

This Day In Crypto | DOGS Watch 

 

The cryptocurrency market has lost 5.46% in market capitalization in the last 24hrs, now sitting at $3.34 Trillion. DOGS, like many other crypto assets, have experienced significant price drops to the account of 6.87%, bringing its market valuation to $272.29 Million, valuing each unit by $0.000528 at press time.

 

Image Credit: CoinMarketCap

 

Evident in the data above, DOGS has been a consistent downtrend, losing over 42.86% of its market value in the last 90 days, a trend many view as an indicator of ranking poorly in performance in the current bull market.

 

That said, this is not a widely shared sentiment despite the public performance data. Most memecoins reveal similar trends, potentially signifying a shift in interest and volume destination as investors gear up for a bull market run up in altcoins.

 

Following the earlier launch, analysts from DoomDoom predicted a decisive high of $0.10 over the next decade in a Cryptorank hosted report for DOGS, bringing the project's fully diluted Value (FDV) to $55 billion. 

 

The report also highlights DOGS’s community-centric nature, where the majority of the token supply is controlled by early players and investors rather than team members. Adding that even in absence of the team, DOGS would perform better than most pump and dumps whose supply were heavily controlled by project leads. 

 

Realistic bull market targets are set on DOGS hitting $1b - $5B valuation, bringing the maximum unit value to $0.01, a price expectation highly watched for by various community members.