DOGS Token Breaks Down From Rising Wedge, Signals 19% Drop Ahead

As of May 14, 2025, the DOGS/USDT chart on Binance shows that the price formed a rising wedge pattern and has broken below it.

In the rapidly evolving landscape of cryptocurrencies, new tokens are continually emerging, promising innovative solutions and engaging communities. Among the tokens that have gained attention in recent times is DOGS, a token that has carved its own path with its unique approach and evolving ecosystem.

As of May 14, 2025, the DOGS/USDT chart on Binance shows that the price dropped below the lower trendline of a rising wedge, signaling a possible continuation of the previous downtrend. A rising wedge is a bearish chart pattern that occurs when the price moves up within two converging trendlines, forming a wedge shape on the chart. As the trendlines converge, the price action becomes more volatile, and the trend is likely to break down.

In the case of DOGS, the price dropped from the upper trendline of the wedge at $0.0002500 to the lower trendline at $0.0001850, completing the wedge’s height of $0.0006500. After dropping below the lower trendline, the measured move from the wedge’s height suggests a possible drop toward $0.0001851, which is around 19% below the current price level of $0.0002281.

At the same time, the RSI indicator dropped to 40.70, indicating that the selling momentum is weakening. The RSI is a technical indicator used to measure the magnitude of price changes over time. It is often used to identify overbought or oversold conditions in a security.

In addition, the price is trading below the 50-period EMA at $0.0002317, which is an average of the last 50 closing prices. The EMAs are technical indicators that are used to identify the direction and strength of a trend. When the price is trading below an EMA, it is considered to be in a bearish trend.

Overall, the breakdown from the rising wedge, the RSI dropping below 50, and the price testing the 50-period EMA suggest that the bearish trend might continue. However, traders may want to wait for further confirmation of the bearish continuation or look for signs of a possible bounce. For instance, traders could watch for a bounce near the $0.0001850 zone, as it’s the projected target of the measured move from the rising wedge.

DOGS Token Teams With Major Charity For Grant Program

In other developments, the DOGS token team provided an update on its plans for the second quarter of the year, focusing on expanding the token’s real-world use and deepening community involvement across multiple regions.

As part of its community engagement efforts, the DOGS team will be launching a series of games that are directly tied to the token. These games will offer unique ways for users to earn DOGS tokens through their gameplay and strategic thinking. The goal is to boost activity within the DOGS ecosystem and provide ongoing incentives for token holders.

Moreover, the team is forming local DOGS communities in several countries around the world. These groups will receive grants from the project to organize events in their regions and build a strong presence for the token. The aim is to bring together local enthusiasts and foster a sense of belonging within the broader DOGS community.

At the same time, the project will be donating over 6 billion unclaimed DOGS tokens—which currently amounts to nearly $4.5 million—to a selection of global nonprofit organizations. Among the key partners is a major animal welfare group, which will use the funds for rescue and shelter programs.

The project’s initiative to donate a portion of its tokens to charity highlights a growing trend in the cryptocurrency space. As blockchain technology matures, there is increasing interest in using it for social good.

These updates show that the project is moving toward more practical use cases for its token while maintaining the meme-driven appeal that has helped it gain a following on The Open Network.