Memecoin project $DOGS is becoming extremely popular thanks to Telegram airdrop initiatives.July 11, 2024: #DOGS/USDT opened aggressively, showing strong bullish momentum right from the start.DOGS.pngHowever, this growing momentum was fleeting as prices then fell.The pricing trend showed less fluctuation after a noticeable initial decline.DOGS is currently in a bearish trend as it forms a Rounding Top pattern.As the price is trading below the 20, 50 and 100 day moving averages, the MACD indicator is bearish.DOGS could reach $0.05000 if it manages to establish support and bounce above $0.03000, according to Coingabbar research.On the other hand, if the $0.02700 support level is broken, further losses are possible up to the $0.02000 support level.Important info:Resistance level: $0.03800 – $0.05000SUPPORT LEVEL: $0.02000 – $0.01000