Price Analysis

Dogecoin Can Be A profitable Long Term Investment

The inception of Dogecoin is noteworthy for its amazing history. The concept of cryptocurrency had started gaining attention back in 2013. At that time, Bitcoin was the only big name, and it attracted serious attention from majority investors all around the world. To turn this extreme seriousness into a fun loving activity yet which can also perform as a cryptocurrency, Billy Markus and Jackson Pamer made a joint venture by introducing the picture of our most friendly mascot on their digital coin. This was termed as Dogecoin, and it was introduced on 6th December 2013. They derived the idea from the popular meme of Shiba Inu dog. Their idea was really cool, and the cute digital token soon attracted worldwide investors.

Current status of Dogecoin (DOGE)

DOGE is currently getting traded at USD 0.001989 (UTC time 07:51). Compared to its yesterday’s price, the value of DOGE has been reduced by -0.67%. It is currently following a bearish trend. It has occupied the 26th position in the present cryptocurrency market. Its current market cap has a value worth of USD 235,672,041. At present, 118,501,479,990 DOGE are available to trade in the crypto platforms.

Price analysis of DOGE on the basis of the Dogecoin charts

Dogecoin chart

On the basis of the above chart, the current price of DOGE is 0.001988 USD or 0.00000053 BTC (UTC time 07:59). Its present market cap has a value worth of 235,550,762 USD. Its 24h volume is currently valued at 17,482,045 USD. The same chart shows that the price of DOGE 1 month back was 0.001941 USD. Contrasting these two price points, it is evident that the value of DOGE within this one month has been increased by 2.42%; 0.001891 USD has provided a very good support level to this bullish trend.

Future price predictions of DOGE

As per the technical analysts, Dogecoin can be a very good option for good returns in the upcoming future. If investors are looking for cryptocurrencies that can give them ample profits, then, they should consider DOGE in their list. It is predicted that in a long term basis, the value of DOGE can be around 0.00380 USD. With a five year investment, the predicted revenue is estimated to be around +92.04%. With no immediate plans of development, it is predicted that DOGE will attain stability to some extent in its near future. There is no significant probability of DOGE getting severely affected due to intensive volatility of the crypto market.

DOGE is really appealing to the people for its amazing fun loving community and peer to peer technology. It can earn more repute in the future. The way it managed to make a great turn around in spite of the great volatile market earlier, is really amazing and impactful to the investors. All these reasons indicate that this crypto is going to attain great heights in the future.

Let’s sum up

DOGE is definitely one of the most recognized cryptocurrencies that have created a ubiquitous upsurge among investors. It is expected that in future also, its users will grow significantly, raising its value to a very dignified level. From the above price predictions, it is evident that DOGE is definitely one of the profitable cryptos to invest on.

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.
Back to top button
Close