Dogecoin (DOGE) Price Analysis : Dogecoin to Rise More this Year in Spite of the Crypto Market Volatility
DOGE is one of the trending cryptocurrencies which is gradually grabbing attention throughout the world. Although, it originated from a comic character of “Shiba-Inu dog” but, it emerged as one of the potential digital currencies due to its own firm technology and benefits. Nowadays, many merchants use DOGE as a means of their payment to trade goods and services. Many renowned online stores like AllGamer.net, eGifter, etc. are already using Dogecoin for their own benefit. Dogecoin has the aim to be the default crypto for merchant payments in this year.
Current status of DOGE
DOGE is currently valued at USD 0.002040 (UTC time 04:59). Based on its market cap, it is the 27th largest cryptocurrency in the world with a circulating supply of 118,807,620,750 DOGE. Its current market cap has a value worth of USD 242,368,748.
Price analysis of DOGE on the basis of Dogecoin charts
The above chart shows that at present DOGE is getting traded at 0.002038 USD or 0.00000051 BTC. Its present market cap has a trading value of 242,152,210 USD with 18,030,380 USD as its 24h volume. The same chart shows that nearly one month earlier, DOGE had a trading value of 0.002017 USD. So, within this approx. One month period, the value of DOGE has been increased by 1.04% with 0.002030 USD as a good support resistance. The price range of DOGE in this interval has been on a bull trend by 1.04%.
Future price analysis of DOGE
After the live demonstration of Dogethereum, the adoption rate of DOGE has been increased significantly. Many experts believe that 2019 is a great year to splurge on this crypto for having higher returns in long term investment. The crypto market is highly volatile now and keeping that in mind; it is quite hard to say anything firmly regarding future values of DOGE.
Zakaria M, an eminent Steemit blogger claimed that in 5 years, 1 DOGE could be worth of $1. He also added that as fiat currencies will slowly move out, it can be a great opportunity for DOGE to be $1 or even $10 in five years. This prediction is quite optimistic in the sense if we consider the past performances of DOGE and when it successively revived itself from huge losses that it faced earlier. In the mid of 2019, experts think that DOGE can trade around $0.0147 and the lowest price of DOGE in this year can be around $0.0122. And also as per Dogecoin Price Prediction, it seems that the coin is expected to rise $0.0186 at the end of 2019. According to technical analysts, DOGE can be around $0.044 after five years from now.
We think that DOGE can be a pretty good choice for long term investment and if the market condition improves, then, it can surely be one of the dominating cryptos in all cryptocurrency exchanges.
Overall Thought
DOGE is although running on a turmoil due to intensive market volatility but, experts and investors have high hopes from it because, in the past, it successively improved its condition after facing tremendous losses.
