Analysts see higher potential in this Dogs token rival

Following its successful airdrop, interest in Dogs token is surging, but analysts question its ability to rebound from recent declines.

Since its successful airdrop, the cryptocurrency market has seen a significant increase in interest in Dogs token (DOGS), which has sparked discussions about its potential 100x price increase. Analysts are doubting whether DOGS can break free from its declining trend in light of its latest bearish pullback. A competing coin that is just getting started is gaining popularity since it has even greater growth potential.

Dogs Token: Present conditions and issues in the market

Using the Runes protocol, DOGS, often referred to as DOG•GO•TO•THE•MOON, was introduced on April 24, 2024. At first, it became well-known after an effective airdrop campaign gave over 75,000 Runestone Ordinal NFT owners 100 billion DOG tokens. Due to its early success, DOGS became well-known as a prominent token on the Runes platform. 

With a market capitalization of $632 million and a 24-hour trading volume of about $28 million, DOGS is currently trading at $0.0024.DOGS is currently amid a bearish correction despite a strong start. It is clear from the technical analysis that the token is having difficulty keeping up its upward velocity. The 14-day Relative Strength Index (RSI) is at 38.12, indicating a bearish trend, while the 50-day Simple Moving Average (SMA) is $0.003322. 

As the Fear & Greed Index stands at 23 (Extreme Fear), the market’s perception of DOGS is still negative. The current DOG/USD range is supported at $0.0022 and has resistance at $0.003115. Bears are in control and are urging a decrease toward $0.002. It is unclear if DOGS will be able to experience a 100x surge soon due to this negative momentum.

DOGS technical outlook and possible upsurge

Several conditions must be met to reach the 100x goal. First, to overcome the existing resistance levels and break past the $0.008243 mark—a 227.85% increase from the current price—the token would require a substantial infusion of purchasing pressure. Extreme anxiety would also need to give way to a more optimistic attitude in the market, maybe as a result of encouraging developments in the DOGS ecosystem or more general market trends that support meme tokens.

The negative correction, however, suggests that DOGS is currently having trouble sustaining its early momentum. The token might find it difficult to reach the 100x growth target in the short to medium term, as indicated by the diminishing trading volume and the lack of a discernible rising trend. Even though it’s not impossible, the current state of the market makes the route to such exponential development seem dubious.

Rexas Finance: A potential Dogs rival 

With its unique offering of Real-World Asset (RWA) tokenization, Rexas Finance (RXS) stands out as a formidable alternative to DOGS, which is struggling with market instability. Rexas Finance bridges the gap between traditional finance and blockchain by providing a comprehensive ecosystem that allows users to tokenize physical assets like real estate, commodities, and art, in contrast to standard meme tokens.

RXS is priced at $0.040 at the moment of its presale period, and it has already raised over $875,967, demonstrating strong investor interest. The coin is scheduled to sell at $0.20 on major exchanges, and it is anticipated that the price will increase to $0.050 during the next presale phase. Early investors could profit greatly from this since analysts expect RXS to rise above $20 during the next bull market.

The Rexas Token Builder, part of Rexas Finance’s unique ecosystem, makes it simple for customers to tokenize their assets without having to deal with the difficulties of blockchain coding. Furthermore, Rexas Estate allows investors to obtain stablecoins as a form of passive income through fractional ownership of real estate. 

Rexas GenAI, which creates original digital artwork, Rexas Launchpad for decentralized token sales, and Rexas DeFi for decentralized trading across various networks are some of the other features available on the platform. Rexas Finance is positioned to lead the tokenization business, which is expected to reach $50 trillion by 2030, thanks to its diversified strategy.

Why there is greater growth potential for Rexas Finance

Rexas Finance’s primary point of uniqueness is its emphasis on practicality. RXS has real use cases, in contrast to speculative tokens that depend on hype and market emotion. Tokenizing physical assets such as art, commodities, and real estate allows investors to diversify their holdings and have a more stable portfolio. In addition to increasing demand for the RXS token, this practical use lays the groundwork for its long-term expansion.

Rexas Treasury, a multi-chain yield optimizer that enables customers to earn compound interest on their cryptocurrency deposits, is another component of Rexas Finance’s ecosystem. This gives the RXS token an additional layer of value and draws in institutional and retail investors seeking long-term profits. Rexas Finance has a purposeful vision, a robust ecosystem, and favorable tokenomics that position it to outperform speculative tokens like DOGS.

Conclusion

Dogs Token will have a difficult time reaching a 100x increase in the current market state. Although its early momentum was encouraging, technical analysis indicates a bearish trend that may limit its potential for near-term gain. However, a competing coin with a stronger base and growth plan is starting to look like a better choice for investors looking for significant profits. Investors will be watching this contest closely as the market develops and assessing the benefits and drawbacks of each token.

For more information, visit the Rexas Finance website, read the whitepaper or join the community on X and Telegram.