Recent spikes in interest for memecoins among retail investors indicate a growing trend towards speculative investments in the cryptocurrency market.
Memecoin Mania Begins
Google data shows a significant peak in interest for memecoins, exceeding previous records over the past five years. This reflects an increased enthusiasm for meme-themed cryptocurrencies. Amongst these, DOGS on the TON blockchain stands out, potentially gaining popularity due to its unique distribution method through Telegram user airdrops.
DOGS Potential Bullish Breakout
The DOGS/USDT chart suggests a consolidation phase within a symmetrical triangle pattern, indicating a potential breakout. The memecoin trades near the upper boundary of this triangle, signaling possible upward price movement. Increased trading activity near the PoC resistance level could trigger a projected 26% upward move.
Volume OI-Weighted Funding Rate
The DOGS/USDT funding rate chart highlights potential upward momentum if current trends hold. Recent increases in funding rates align with price spikes, suggesting potential for significant price movements.
The surge in memecoin interest and particular technical signals for DOGS indicate continued potential for price increases, presenting intriguing opportunities for market observers.
