DOGS Coin Price Increases 9%, Now Trading IDR 16,484!

Bittime – Good news for holder DOGS coin because this crypto asset is experiencing a fairly high increase. The price of the DOGS coin increased by 9% so that it now costs more than IDR 16.

So, what will the future hold for DOGS? Is it promising to be a long-term investment? Check out the complete analysis in this article.

DOGS Price Chart Today

Sumber: Market Endtime

Today's DOGS has a price of IDR 16,484 after experiencing an increase of 9% in the last 24 hours. Previously, DOGS was also being sold at Rp. 17,269 and the lowest price was Rp. 15,049 in the same 24 hours.

From the graph taken from the Bittime market above, it can also be seen that the DOGS Relative Strength Index (RSI) line exceeds 53.43, which means that the DOGS buying trend is much more than the selling trend.

The RSI line which exceeds 50 is also reflected in the MACD line which is moving from bottom to top and has touched the limit line. That way, a DOGS bullish trend could occur in the near future.

Even though today's DOGS price chart shows positive sentiment and is nice to see, the DOGS price should be higher than it is now. The reason is, DOGS was at a price of more than IDR 25 on August 28.

However, DOGS prices experienced a sharp decline of 20% in the past week on September 4 due to the activation of on-chain DOGS withdrawals. The price decline at that time could be said to be due to a trend of withdrawal of allocations airdrop DOGS.

Read Also: DOGS vs CAT: Which Makes the Most Profit?

Factors that Influence DOGS Prices

There are many factors that influence prices on crypto assets, including DOGS. Following are several factors that can influence DOGS price movements.

1. Token Utility

The more uses the DOGS token has in its ecosystem, the higher the demand. If DOGS is used for governance, staking, or as a means of payment within the ecosystem, this will drive up the price.

If projects using DOGS become more widely adopted, the value of the token will increase.

2. Technology and Development

The development of new technology or interesting features in the DOGS ecosystem can increase investor interest. Partnerships with other projects or large companies can provide credibility and increase exposure to the token.

3. Market Sentiment

Positive or negative news about the DOGS project, such as new product launches, team changes, or security issues, will greatly influence market sentiment.

Overall crypto market conditions will also influence DOGS prices. If the crypto market is bullish, DOGS prices tend to rise, and vice versa.

4. Supply and Demand

If there is an ongoing token-burning mechanism, the supply of tokens will decrease and this can push the price up. Fair and transparent token distribution will provide investors with confidence.

5. Regulation

Changes in regulations regarding crypto assets in various countries can have a significant impact on DOGS prices. The regulations for each country are also different, so it is very normal that you can buy a crypto asset in America, but you cannot buy that crypto asset in Indonesia.

Future Predictions for DOGS in the Crypto Ecosystem

Accurately predicting crypto prices is very difficult, but we can see some possibilities based on the factors above. And there are several things that we can understand to find out how DOGS will continue in the future. Below are several scenarios predicting the future of DOGS in the crypto ecosystem.

- Positive Scenario: If the DOGS project continues to grow, the token's utility increases, and gains support from a strong community, the price of DOGS has the potential to rise significantly.
- Negative Scenario: If the project experiences stagnation, there is no innovation, or even a scandal occurs, DOGS prices can drop drastically.
- Neutral Scenario: DOGS prices can move sideways or follow general crypto market movements.

Read Also: DOGS Almost 120 Billion Tokens Have Been Sent

Conclusion

IThis is the explanation regarding the price of the DOGS coin increasing by 9% so that it is now trading at more than IDR 16. DOGS prices can change at any time.

So, before deciding to invest in DOGS or any other crypto, make sure you have done in-depth research and understand the risks involved. Always diversify your portfolio to reduce risk.

And if you want to check DOGS prices in real time, visit the Bittime market. Bittime can be accessed whenever and wherever you are for free!

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure 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. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.