The hype around the Telegram-linked meme coin DOGS has taken a sharp turn, as nearly 99% of its holders are now in losses just about 60 days after its listing.

Once a token of high expectations, DOGS has been hit by relentless selling pressure, leaving early investors deep underwater. With mounting concerns over its future, the meme coin now faces a crucial test. Can it recover, or is it heading towards further decline?

Interest in Telegram’s Flagship Meme Coin Plunges

DOGS, which launched on August 26 with the distribution of approximately 40 billion tokens to around 17 million Telegram users, had an initial price of $0.0017. However, since then, the meme coin has plummeted by 56%. 

According to the Global In/Out of Money (GIOM) indicator, nearly 99% of DOGS holders are at a loss, with billions of addresses that purchased DOGS between $0.00079 and $0.0013 currently holding the token at a loss.

Apart from highlighting the on-chain cost basis, the GIOM also reveals whether a token is facing resistance or support. A large cluster of addresses or tokens within a price range signals significant support or resistance. Presently, the large number of DOGS holders out of the money indicates that the price may struggle to rise and could potentially fall again.

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Another reason DOGS’ price could fall again is its volume. Around the time the meme coin launched, the volume was over $2 billion, indicating that the market was highly interested in it.

As of this writing, the token’s trading volume has dropped to $88.65 million, a significant decline from earlier levels. This drop in volume suggests reduced buying and selling activity, which may make it difficult for the meme coin to rebound from its current lows. 

With lower market activity, price recovery could be a challenge as fewer traders are interacting with the token.

DOGS Price Prediction: Lower Lows

Based on the daily chart, the Bollinger Bands (BB) around DOGS have contracted. This suggests that volatility is currently low, and the price may remain range-bound without experiencing significant price swings. 

When the bands expand, it typically indicates high volatility and the potential for more dramatic price movements. However, with the BB contracting, it seems the market is expecting stability or muted price action in the short term for DOGS.

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Considering DOGS’ current movement, the meme coin’s price is likely to drop below $0.00061. However, if investors step in and buy the dip in large volumes, the trend could reverse. In that scenario, the meme coin’s value might rise to $0.00081 or potentially even as high as $0.0010.

Ethereum’s price has fluctuated under $2,800 for the past few weeks, and it is stuck in a consolidation phase. Despite several attempts, ETH has been unable to break through key resistance levels, leaving investors uncertain. 

Mixed signals from various technical indicators are adding to the ambiguity, making it difficult to predict whether Ethereum can climb back to $3,000 soon.

Ethereum Is Losing Money

Ethereum’s Network Unrealized Profit/Loss (NUPL) currently sits in the optimism zone, signaling improving market sentiment. This indicator tracks all holders’ total profit or loss relative to when they acquired their assets. The current levels reflect growing confidence among investors.

This optimistic sentiment is keeping investors engaged, with many holding their assets rather than selling them. As long as the NUPL remains in this favorable range, the chances of a dramatic sell-off are slim, which could support Ethereum’s price in the near term.

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On the macro side, Ethereum’s momentum appears mixed, as shown by the Chaikin Money Flow (CMF) indicator. The CMF, which tracks the flow of capital into and out of an asset, briefly rose last week but has since dipped again.

This decline is a bearish signal, as it suggests that more capital is flowing out of Ethereum than coming in. It is an indication that the selling pressure is potentially increasing.

The outflow of capital is a critical factor to watch, as sustained declines in the CMF often precede price drops. Ethereum could face additional challenges in breaking through its current resistance levels despite the otherwise positive market sentiment if this trend continues.

ETH Price Prediction: Staying in Lane

Ethereum is currently trading at $2,610, struggling to overcome resistance at $2,700. Since early August, ETH has been repeatedly blocked by this level, with brief breaches above it failing to hold. As long as Ethereum remains under this resistance, significant upward momentum may be difficult to achieve.

Mixed signals from key indicators suggest that the ongoing consolidation between $2,700 and $2,344 will continue. The market may remain in this tight range until there is a decisive shift in sentiment or capital inflows.

Read more: Ethereum (ETH) Price Prediction 2024/2025/2030

For Ethereum to reach $3,000, it must first flip the $2,700 resistance into support. Once this level is breached, the next key barrier will be $2,930. If Ethereum can rise above this, it will hit a two-and-a-half-month high, potentially invalidating the current bearish outlook.

In a bold move to prevent Toncoin’s (TON) price from sliding further, crypto whales have stepped in to buy the cryptocurrency in large volumes. This influx of buying pressure comes after several instances where Toncoin appeared poised to drop to the $4 mark.

But over the last few days, bulls have ensured that the altcoin does not go below that threshold. With whales now in the picture, here is what could be next for TON.

Whales Scopp Over 13 Million Toncoin

According to IntoTheBlock, Toncoin’s large holders’ netflow surged by 44% over the past seven days. In the crypto space, large holders are addresses that control approximately 1% of a token’s total circulating supply. 

These major stakeholders often exert significant influence on price movements. When large holders’ netflow decreases, it signals that whales are selling more of the asset than they are purchasing. 

However, in Toncoin’s case, these holders accumulated roughly 13.83 million tokens on October 16, valued at over $72 million at the current price, indicating potential bullish momentum for the altcoin.

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Beyond the increase in large holders’ netflow, Toncoin’s Coins Holding Time has also risen. This metric tracks how long a cryptocurrency has been held without being sold. A longer holding time often reflects growing confidence that the asset will generate favorable returns.

When the holding time decreases, it usually signals potential selling pressure, which could lead to a price drop. However, an uptick in holding time suggests that most holders are refraining from selling, which can strengthen buying momentum and raise the likelihood of a price hike.

TON Price Prediction: Eyes Above $6

A look at the daily chart shows that Toncoin’s price is $5.13. Although the current value is decreasing, BeInCrypto noticed strong support at $5.05. This support, which has historically prevented TON from undergoing a significant correction, could become vital again.

As it stands, TON’s price is unlikely to drop below this region. If that happens, the next move for the Telegram-native coin could be a run toward $5.80. But at $5.80, the altcoin might experience some level of resistance that might want to push it back.

However, if buying pressure continues to increase, Toncoin might successfully breach this zone, and its value might climb to $6.75. 

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However. in a case where bears force a rejection, TON might not reach this point. Instead, the cryptocurrency might decline below the $5 mark.