DOGE initiated as a joke only, but it soon grabbed the attention of major crypto investors due to its capacity, appeal, and technology. Dogecoin is a combination of Bitcoin and Doge and. The idea of this coin was inspired by the comic character Shiba Inu Dog and many people during its inception, couldn’t figure out how crypto can have such a funny name. But, slowly and steadily, it soon became the talk of majority investors around the globe. It processes transactions much faster than BTC also and its availability is also more than BTC.
Present status of Dogecoin
At present DOGE is getting traded at USD 0.003263 (UTC time 06:43). With a market cap of USD 388,308,989 and a circulating supply of 118,988,893,040 DOGE, it is the 24th largest cryptocurrency.
Price analysis of DOGE
The above chart shows that at present DOGE is getting traded at 0.003301 USD or 0.00000063 BTC (UTC time 06:45). It has a present market cap of 392,749,592 USD and a 24h volume of 60,012,697 USD. The same chart shows that approx. One month earlier, DOGE had a trading point of 0.002045 USD. So, within this period, the value of DOGE has been raised by 61.41% with 0.002386 USD as a good support resistance level.
Future price predictions of DOGE
DOGE is aimed to be the most preferred and dominant crypto for all sorts of merchant payments this year. This can lead to greater gains of its community. Accordingly, Crypto Ground thinks that by the end of this year, it can reach a value of $0.0032 and in 5 years, it can be around $0.0119. Wallet Investor, which is a pessimistic website when future price points of cryptocurrencies are concerned, also presumed that DOGE could be a great option for long term investment and in a year, it can be around $0.00376. We think that DOGE is very potential crypto and it has previous experience of recovering great loses in spite of the great market volatility. At present also, the market is really very volatile. We assumed that DOGE could reach a maximum height of $0.01 this year and the lowest value of this crypto can be around $0.0122.
DOGE is undoubtedly potential crypto but, as the market is highly volatile, it is better for the investors to wait for some more time till it attains stability to an extent.