Dogs (DOGS), a meme coin on the Toncoin (TON) network, has rapidly gained traction in the web3 space. Just days after launching on several centralized exchanges, Dogs reached nearly 1 million on-chain holders, achieving a fully diluted valuation of around $608 million and a daily trading volume exceeding $440 million. This has significantly boosted the visibility of the Toncoin network.

Toncoin has recently hit a milestone with over 1 billion transactions in the past year, despite facing outages due to high demand for Dogs. With over $351 million in total value locked and $619 million in stablecoin supply, Toncoin remains a leading web3 ecosystem.

Technically, DOGS is consolidating after testing support around $0.0011. A close above $0.001166 could lead to a breakout towards $0.0015. The four-hour RSI is near oversold levels, indicating a potential bullish move.