Price Analysis

Dogecoin can be a high value buy for this year

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Dogecoin is definitely one of the most trending cryptocurrencies today. It is a decentralized peer to peer digital currency that enables users to send money online really easily. It emerged as a joke only, but, within a short span of time, it earned a global reputation and a significant position in the crypto trading sphere. It is now used by the retailers also to accept payments. Its logo is strikingly attractive which reminds of our friendly mascot, and this is a very effective reason that made it so popular and likable in all social media arena.

Present stature of Dogecoin (DOGE) :

Currently, DOGE is getting traded at USD 0.002018 (UTC time 08:40). It is at the 25th position among the cryptocurrencies that are getting traded currently. Its current market cap has a value worth of USD 238,980,787. At present, 118,431,994,980 DOGE is in circulation. Compared to its yesterday’s price, the value of DOGE has been increased by 0.02%.

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Price analysis of Dogecoin on the basis of Dogecoin charts :

Dogecoin chart

From the chart above, it is seen that the current price of DOGE is 0.002017 USD or 0.00000052 BTC (UTC time 08:42). Its current market cap has a value worth of 238,926,544 USD with the 24h volume of 20,195,188 USD. From this same chart, it is seen that the price of DOGE nearly one month back was 0.001939 USD. So, within this one month, the price of this crypto has been hiked by 4.02%. In this one month, the price range of Doge has been on a bullish trend with 0.001942 USD as its very effective support level.

Future price predictions of DOGE :

According to the cryptoanalysts, the price of DOGE is going to be towards the upwards trend or bullish trend in the upcoming days. This crypto has already got adopted as an effective means of payment for services and goods by merchants. In the mid of this year, the price of Doge can be around $0.0147, and it can reach the lowest at around $0.0122 in this year. From the optimistic point of view, the analysts suggested that this crypto can have a value of $0.0186 at the end of this year. After five years, the price of the same is expected to be around $0.0450.

It is evident enough to understand that Dogecoin can be a very good option for long term investment. The way it has been gaining publicity globally, it is expected that soon it can have overwhelming numbers of users and thus, its price is expected to be on the higher side only.

Conclusion :

Dogecoin has earned huge repute within a very short period due to its ample benefits and a cute logo. Its users are significantly increasing day by day, and thus, with this increasing repute, it is expected that the number of Dogecoin will increase probably. Thus, it will lead to more trading with this crypto, and it also indicates about getting higher returns from long term investment on DOGE.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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