DOGS Memecoin Rides the TON Blockchain Wave with Big Breakout

• DOGS memecoin is gaining attention due to its breakout from a Falling Wedge pattern, signaling potential bullish momentum.
• The TON blockchain saw over 46 million transactions, largely driven by excitement around the DOGS memecoin airdrop.

DOGS, a popular memecoin built on the TON blockchain, has received a lot of attention since its launch and initial distribution via airdrop.

Captain Faibik, a well-known cryptocurrency analyst, recently tweeted that DOGS is breaking out of a Falling Wedge on the hourly TF chart and anticipated a short-term bullish surge of more than 40%. This bullish view has piqued the curiosity of traders, who are seeking to profit from the expected price increase.

$DOGS is breaking out of Falling Wedge on the Hourly TF Chart..!!

Expecting +40% Bullish Rally in the Short term.. Don't miss the Ride.. #Crypto #DOGS #DOGSUSDT pic.twitter.com/ce11L3qLE6

— Captain Faibik (@CryptoFaibik) September 5, 2024

Rising TON Blockchain Activity Driven by DOGS Airdrop Enthusiasm

According to IntoTheBlock, the TON blockchain processed over 46 million transactions last week because of the enthusiasm surrounding the DOGS airdrop.

This behavior demonstrates the growing passion for DOGS and its potential as a prominent participant in the memecoin arena. The huge transaction volume also indicates substantial investor interest and the growing utility of the TON network.

The meme token is currently trading at $0.001094, up 8.75% over the last 24 hours. This strong performance places it among the top three gainers today, with a daily trading volume of $478.63 million and a market cap of roughly $565.55 million. DOGS quick rise has established its position as one of the most keenly watched memecoins on the market.

In addition to the current market momentum, CNF previously highlighted a smart trader who made a 400% profit by trading DOGS. This trader took advantage of early DEX access before the token was launched on centralized exchanges (CEX).

Also, our prior report noted that DOGS was among the top gainers, along with another popular meme token, POPCAT, near the end of August. However, after reaching notable highs, both tokens experienced a large correction.