Dogs Crypto Faces Decline Amid Market Shift

Despite initial excitement, the newly launched meme coin Dogs ($DOGS) on the TON Network has experienced a steady decline. Launched on August 26, shortly after Telegram CEO Pavel Durov’s arrest and the largest crypto airdrop to date, $DOGS has seen its price drop to $0.00104. The token’s market cap is $540 million with a 24-hour trading volume of $490 million. A 19.85% drop over the past week signals significant bearish sentiment. Technical analysis suggests further declines could test support levels between $0.00085 and $0.00072 unless market conditions improve.

Market Sentiment and Whale Sales Impact Dogs

September’s historical challenges for cryptocurrencies and Bitcoin's faltering have led to further downward pressure on $DOGS. Large holders and exchanges are offloading tokens, contributing to the dip. With more tokens scheduled for release, additional dilution is expected. Despite these issues, a recovery may be possible if market conditions shift.

Pepe Unchained: Emerging Presale Favorite

Amid the decline of $DOGS, Pepe Unchained has gained traction in its presale, raising over $12 million since June. Unlike typical meme coins, Pepe Unchained aims to enhance efficiency with its own Layer-2 blockchain, offering faster transactions and lower fees. The project has passed audits and provides staking rewards, making it an attractive option for investors.