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DOGS

DOGS, the recently launched TON-based meme coin, has secured a listing on another popular crypto exchange while short traders continue to bet on its price fall. 
According to a<a href="https://www.globenewswire.com/news-release/2024/08/27/2935912/0/en/Bitget-s-Poolx-Features-TON-based-DOGS-Memecoin-After-Successful-Pre-Market.html" target="_blank" rel=""> press release</a> on Aug. 27, <a href="https://crypto.news/price/dogs-2/">DOGS</a> has been listed on Bitget’s PoolX platform following a successful pre-market phase that began on July 12. 
The pre-market period generated significant trading activity and interest within the TON community, allowing early Bitget users to engage with DOGS before its wider release. 
During this phase, Bitget also conducted a gas-free airdrop campaign, enabling users to claim DOGS tokens without incurring transaction fees. By connecting their accounts through the DOGS Telegram mini-app, participants could easily gain access to their tokens. 
With DOGS now available on PoolX, users can stake USDT to enter a giveaway pool of 5 million DOGS, running until 9 AM UTC on Sept. 2. 
PoolX on Bitget is a platform feature that lets users stake cryptocurrencies or participate in liquidity mining to earn rewards. By staking assets in PoolX, users can gain additional tokens or interest, offering a way to earn passive income without active trading.&nbsp; 
The DOGS token began trading on major centralized exchanges, including Binance, Bybit, OKX, Bitget, and Gate, on Aug. 26 at 12 pm UTC. Within the first 10 hours, the Telegram-native meme coin reached a market cap of $624 million, with a trading volume of $1.74 billion. 
Following the launch of DOGS, Telegram Wallet and these crypto exchanges <a href="https://crypto.news/dogs-airdrop-disrupted-telegram-wallet-and-exchange-services/" target="_blank" rel="noreferrer noopener">experienced temporary disruptions</a> as millions of users flocked to trade the DOGS token. 
The meme coin has since declined by 27% and continues to drop, <a href="https://www.coingecko.com/en/coins/dogs" target="_blank" rel="">according </a>to hourly charts on CoinGecko. The memecoin was trading at $0.0012, with its daily trading volume at $1.67 billion. 
According to Coinglass <a href="https://www.coinglass.com/currencies/DOGS" target="_blank" rel="">data</a>, the total open interest for DOGS has seen a massive surge to $90.38 million, reflecting a massive increase in trader interest in the memecoin. This suggests that a large influx of new money is driving the price rally. 
Additionally, market intelligence data reveals that the total funding rates aggregated by DOGS are at 0.0094%, indicating traders’ bullish sentiment on the continued rise in DOGS’s price. 
However, an increase in open interest while the price falls typically reflects a bearish outlook, with traders expecting further declines in the cryptocurrency’s price. 
At the time of writing, the token was also trending on Google and social media platforms like X and Telegram. 
 You might also like: <a href="https://crypto.news/what-is-dogs-token-and-how-does-it-work/"> Earnings with old accounts: What is Dogs project, and how does it work? </a> 
Meanwhile, analysts’ opinions are divided regarding the future of DOGS. Some <a href="https://x.com/jackdallaseth/status/1828331744241819720" target="_blank" rel="">express concern</a> that distributing the token through airdrops could lead to immediate selling pressure, casting doubt on its long-term value. 
Conversely, others believe in the potential of DOGS, citing strong community support and the broader trend of meme coins. They suggest that despite potential volatility, the token could maintain or even increase its value if the community remains active and supportive. 
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 I repeat this is a meme coin, your trading styles might fail. The dogs community is extremely bullish atm, I don't see it going down soon. This will definitely have a positive impact on the price of <a href="https://twitter.com/search?q=%24dogs&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$dogs</a> days to come! Are we gonna experience slight dips ?? YES! Play wise!!— LIICKO (@lexy_fierce) <a href="https://twitter.com/lexy_fierce/status/1828286061367177607?ref_src=twsrc%5Etfw" target="_blank" rel="">August 27, 2024</a>
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The launch of the Dogs token coincided with the <a href="https://crypto.news/pavel-durovs-arrest-france-toncoin-plunges-20-percent/" target="_blank" rel="noreferrer noopener">arrest of Telegram founder and CEO Pavel Durov</a>, who created the mascot “Spotty,” now synonymous with the DOGS token. 
This development has galvanized the crypto community, leading to the emergence of the #FREEDUROV campaign, which has quickly gained traction across social media platforms. Some market observer suggest that a favorable outcome in Durov’s legal situation could potentially lead to bullish momentum for DOGS. 
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 Risky trade idea but could reward highly if Durov is released by tomorrow. Not too much to go off, Polymarket books thin but odds have gone up a little recently. If he is released both <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$TON</a> and <a href="https://twitter.com/search?q=%24NOT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$NOT</a> (maybe even <a href="https://twitter.com/search?q=%24DOGS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$DOGS</a>, and <a href="https://twitter.com/search?q=%24REDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$REDO</a>) should all go. <a href="https://t.co/GcJf2h4gTr" target="_blank" rel="">https://t.co/GcJf2h4gTr</a> <a href="https://t.co/WWGEotAD6M" target="_blank" rel="">pic.twitter.com/WWGEotAD6M</a>— Game (@game_for_one) <a href="https://twitter.com/game_for_one/status/1828322895744950746?ref_src=twsrc%5Etfw" target="_blank" rel="">August 27, 2024</a>
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 Read more: <a href="https://crypto.news/dogs-pre-market-price-hints-at-550-million-fdv-on-launch-bitget/"> DOGS pre-market price hints at $550 million FDV on launch: Bitget </a>

DOGS get listed on Bitget’s PoolX platform, short traders expect downfall

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