Many Telegram enthusiasts highly anticipated Dogs airdrop due to it being a meme coin and its connection to the Telegram founder’s past. DOGS price also looks ready for a slight correction that could allow sidelined buyers who missed the airdrop to accumulate the TON-based token at a discount.
Dogs Airdrop Success & Telegram Founder Connection
After the arrest of Telegram founder Pavel Durov, the Dogs meme coin was listed on major exchanges like Binance, Bytbit, and OKX. The Telegram-based app’s token DOGS was a major success as the meme coin surged nearly 40% on August 27 and 28.
DOGS Airdrop followed by listing on major exchanges
The logo for the Dogs token is based on the Telegram founder Pavel Durov’s decade-old design, which could have contributed to the hype surrounding the meme coin. Regardless, if investors seek an opportunity to accumulate DOGS after missing the initial airdrop, there might be one in a few days.
DOGS Price Analysis: Buy the Dip Opportunity Soon
DOGS price shows signs of exhaustion after the 40% rally on August 27 and 28. The first sign of weakness or lack of buying pressure was seen when the Telegram-native app’s token crashed 17% yesterday, creating a lower low, signaling the end of the uptrend and the start of profit-taking. If the recovery rally produced a higher high above the August 28 swing high of $0.00167, it would suggest buying pressure. But DOGS set up a lower low, which confirms the start of a further correction.
Investors can expect a 5% retracement to $0.00144, coinciding with the two-day composite value area. If DOGS buyers manage to hold above the $0.00144 support level, it will allow the TON-based meme coin to trigger a 10% rally to the next key hurdle at $0.00160.
On the other hand, a breakdown of $0.0144 could send DOGS price down by 14% to retest the next key foothold at $0.00125. This is a good level to accumulate the meme coin at a discount.
DOGS price chart
All in all, there are two places to accumulate DOGS tokens – $0.00144 and $0.00125. However, if DOGS price fails to slide below $0.00144 and kickstarts an uptrend from here, investors need to watch the $0.001600 level for a retest. If buyers refrain from booking profits here, the chances of staying on an uptrend improve, and DOGS price could revisit the all-time high of $0.00180.
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