The TON Network-based DOGS (DOGS) token surged over 40% in the past week, driven by strong buying momentum and bullish sentiment.
The TON Network-based DOGS (DOGS) token surged over 40% in the past week, driven by strong buying momentum and bullish sentiment. The token reached a market cap of $369 million.
Market technicals are starting to look very enticing for DOGS, with the token currently trading above the 0.618 Fibonacci retracement level. For now, traders are closely watching the $0.0011343 level, which represents the 1.618 Fibonacci extension and could potentially catapult the token further up to $0.0015458.
On-chain metrics also tend to show that the bullish narrative is consolidation. The "In the Money" indicator, for example, has increased 9.79%, which might show that token holders are getting more profitable. Whale concentration metrics are up a modest 0.03%, showing that large holders aren't liquidating their positions.
It would appear institutional interest is also increasing as large transactions are up by 0.25%. That said, liquidation data from the last few hours is indicative of some market tension: $743.41K worth of long positions were liquidated versus $111.39K in shorts. The largest liquidations came from Binance at $509.38K, but sizable positions were liquidated on Bybit and OKX as well.
While DOGS continued higher, market participants focused on key support lines around $0.0006565 as the point for potential entries. The likelihood of the token's continued upward momentum upon a breach above established resistances would likely determine the short-term direction.
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