Price Analysis

Dogecoin (DOGE) Price Analysis: Will Doge Rise Or Continue Towards Devaluation?

DOGE is a decentralized and peer to peer digital currency that allows users to send money online really easily. Initiated as a joke due to its logo and the name, but, with its own performance, it soon grabbed the attention of global investors. It is now one of the trending cryptocurrencies. Many retailers use this coin for accepting payments. Its main appeal is its logo which resembles the comic character of Shiba Inu Dog, and it actually infuses interests among the investors to use or to spend in this crypto.

Present status of DOGE

DOGE is currently getting traded at USD 0.002958 (UTC time 02:57). With a market cap of USD 352,118,859 and a circulating supply of 119,030,689,798 DOGE, it is the 26th largest cryptocurrency in the world.

Price analysis of DOGE

DogecoinThe above chart shows that DOGE is currently traded at 0.002959 USD or 0.00000056 BTC (UTC time 03:00). Its present market cap is worth of 352,181,746 USD with a 24h volume of 48,989,594 USD. The same chart shows that the value of DOGE approx. One month earlier was 0.002015 USD. So, within this period, the value of DOGE has been raised by 46.84%.

Future price prediction of DOGE

Majority Investors have high hopes from this coin. The way it made a high turnover from it’s loses in the past year is an instance of its potential. Although the current crypto market is highly volatile, the crypto investors think that it can soon raise its value towards a bull trend and can maintain its stability. It has the aim to be the default crypto of the merchants. It is currently under development. Taking all these concerns in mind, many crypto analysts think that DOGE can trade around $1 in five years.

According to our analysis, DOGE is getting closer to TRON and IOTA, and it can soon rise above its current price. By the end of 2019, it can trade around $0.0147. If it maintains stability in its value towards the end of 2019, then, it can be considered as a good choice for long term investment.

Conclusion

The crypto market being highly volatile, it is better not to invest in DOGE at present. It is potential crypto, and it is expected that its price will rise towards 2019 end.

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