Telegram DOGS Meme Coin Leaves 99% of Holders at a Loss
On-chain data shows that only 1% of DOGS addresses hold Telegram's meme coin in profit.
Volumes have also declined significantly, with some supply walls indicating further declines.
DOGS price is likely to drop to US$0.00061 as volatility surrounding the token continues to reach low levels.
DOGS, which launched on August 26 with a distribution of around 40 billion tokens to around 17 million Telegram users, had an initial price of US$0.0017. However, since then, the meme coin's price has plunged by 56%.
According to the Global In/Out of Money (GIOM) indicator, nearly 99% of DOGS holders are in the red, with billions of addresses that purchased DOGS between $0.00079 and $0.0013 currently holding the token at a loss.
In addition to highlighting on-chain cost basis, GIOM also reveals whether a token is facing resistance or support. A large cluster of addresses or tokens within a price range indicates significant support or resistance. Currently, the large number of $DOGS holders who are losing money suggests that the price may struggle to rise and could potentially fall again.
https://id.beincrypto.com/harga-koin-meme-anjing-telegram-turun/
