DOGS coin faces key moment after Binance & Coinbase listings

Telegram’s meme coin, DOGS (CRYPTO:DOGS), has reached a pivotal point following its listing on the Coinbase futures market.

This development comes weeks after Binance listed DOGS on its spot and futures markets.

Despite this increased exposure, DOGS faces a challenging path ahead, with a large portion of holders still at a loss.

The listing on Coinbase marks a significant milestone for DOGS, sparking interest in the meme coin.

However, according to IntoTheBlock data, around 61% of DOGS holders—approximately 3 million addresses—are still holding 190 billion coins at a loss.

DOGS is currently trading at $0.00098, a slight increase since its initial Token Generation Event (TGE) on August 26, when it airdropped tokens to Telegram users.

The listing on Coinbase futures, announced at 9:30 UTC, allowed users to trade DOGS along with other tokens.

Despite the price rise, DOGS faces resistance at $0.00097, and many holders are struggling to break even.

Interestingly, data shows that DOGS holders are not rushing to sell, as the coin’s holding time has increased by 264% in the last 30 days.

This suggests that many investors are opting to hold rather than sell at a loss, signaling potential bullish momentum for the coin.

Additionally, the Awesome Oscillator (AO), a momentum indicator, has formed a bullish twin peak pattern, indicating further potential price appreciation.

According to Juan Pellicer, Senior Researcher at IntoTheBlock, “Despite the initial hype, the DOGS token has faced challenges, with 61% of holders currently at a loss.”

He highlights the ongoing difficulties DOGS may encounter even with its recent exchange listings.

At press time, the Dogs (DOGS) price was $0.001004.