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Price Analysis

Dogecoin (DOGE) Price Analysis: Failure To Keep Up With The Pace, Doge Is On Its Way To Lose Its Worth

DOGE initiated as a concept of joke inspired by the Shiba Inu Dog, a famous comic character but, it later transitioned into a serious project. This project has a great friendly and enthusiastic community mainly due to the appealing symbol of DOGE; otherwise, this coin is not as promising as it was before. It is mainly used to pay tips to content creators on Telegram and Reddit.

The current price of DOGE:

Market rank: 27

Market cap: 298,241,776 USD

Present trading value: 0.002500 USD

Circulating supply: 119,308,689,354 DOGE

Price analysis of DOGE:

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The above chart displays the following events-

  • The current trading value of DOGE is 0.002507 USD/0.00000047 BTC (UTC time 08:39)
  • Its current market cap is 299,110,100 USD
  • Its present 24h volume is getting traded at 35,201,481 USD

The same chart also shows that nearly a month earlier, DOGE had a trading value of 0.003027 USD

So, within this one month, the value of DOGE has been decreased by -17.17%.

Future price predictions of DOGE:

DOGE’s developers are continuously failing to keep up with the promises, and it is showing no significant signs of progress. This is the reason why the level of uncertainty is increasing for investors who are willing to invest in DOGE. The main factors behind its failure are its unproven underlying tech, and community support is marginal for the development of this project. Moreover, the value of DOGE gets highly affected by the volatility of the market. All these facts are pointing that DOGE has a very unstable future awaiting and investment on the same can be a futile idea. Accordingly, we think that DOGE can trade around $0.0046 provide, if it performs really well; otherwise, it can even deter to $0.0020.

Conclusion:

DOGE is currently very unstable both from the perspectives of its technology and a marginal number of investors. It is better not to invest in this crypto at present.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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