$DOG (Runes) Price Skyrockets to ATH, Will It Continue to Soar Post-Correction?

Bittime - Dog (Runes), just set an all-time high at the end of April. However, Dog's journey was not always smooth. Let's review Dog's price movement and future prospects.

Price $DOG's Turbulent Beginnings

At its launch, Dog's price tried to gain bullish momentum (rising) but stopped at around $0.00500 (around Rp. 80). Unfortunately, prices then plummeted by 59% in just a week.

Hope emerged when Dog managed to find a support point at $0.00200 (around Rp. 32) and managed to rise 58% in just two days. However, this positive momentum did not last long. The buyers didn't seem strong enough, and the price fell back to the $0.00200 level.

Fortunately, Dog's price movements didn't stop there. A hammer candlestick pattern forms at the support level, indicating a potential reversal. Sure enough, the price then jumped 300% within 3 weeks.

Current Conditions and Technical Analysis

When this news was written, Dog's price was at $0.00884 (around Rp. 141) with an intraday decline of 5.60%. Its market capitalization reached $884.64 million (around Rp. 14.15 trillion) with a fully diluted market cap of $884.72 million (around Rp. 14.16 trillion).

24-hour trading volume was at $58.53 Million (around IDR 936.5 billion), down 30% from the previous day.

Based on technical analysis on the daily timeframe, Dog price showed a strong bullish trend and reached its highest point in history. However, currently the price is facing resistance at the level of $0.01000 (around Rp. 160).

In early June, prices experienced a pullback (correction) before rising again in the short term.

If the price falls and finds support at $0.00700 (around IDR 112), the potential for buying (buying pressure) is expected to increase. If the chart structure manages to attract investor interest, long-term bullish momentum may occur.

However, you need to be careful if Dog's price falls below the $0.00700 level. This condition can make sellers easily drag the price to the level of $0.00430 (around Rp. 68). In fact, if the price fails to stay at $0.00400 (around Rp. 64), a new all-time low could occur.

Technical indicators such as MACD show positive signals. Dog price is trading above the important Moving Average (MA) line. MACD also formed a green histogram and is above the zero line, indicating an ongoing uptrend.

$DOG Towards a $1 Billion Market Cap?

Based on news sources on the X platform (@ordinalsbot), $DOG's market capitalization is getting closer to $1 billion (around IDR 16 trillion) and has the potential to enter the top 100 crypto assets.

The source also stated that the Dog (Runes) developer has big plans when the market capitalization reaches that figure.

Fascinating Zig-Zag Movement from $DOG

Akun This movement is often a signal of a potential strong breakout (break above resistance) or breakdown (break below support).

Conclusion

The price of Dog (Runes) has experienced significant fluctuations in recent weeks. A 300% price increase was followed by a correction. Currently, the price is facing resistance at $0.01000 level.

It will be important to watch if the price can find support at $0.00700. If buying pressure is maintained, the potential for long-term bullish momentum can occur. However, a drop below the $0.00700 level could lead to further downside, even touching the $0.00430 level.

Technical indicators and market capitalization indicate the potential for significant future developments. On the one hand, the chart structure suggests the possibility of Dog facing resistance at the $0.01 and $0.015 levels (around Rp. 240). On the other hand, if the price falls, potential support is at the $0.00550 and $0.00430 levels.

Dog's journey in the crypto world is still relatively short. However, the volatile price movements and huge potential in the future make Dog an interesting asset to watch. For interested investors, it is important to conduct in-depth research and consider the risks before making an investment decision.

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

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