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Price Analysis

Dogecoin (DOGE) Started as a Meme, Turned Out to be the Most Likeable Cryptocurrency

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Started with a meme on Shiba Inu – a Japanese breed of dog – Dogecoin (DOGE) came into existence on Dec 6, 2013. Created primarily for digital tipping on sites like Reddit and Twitter for sharing quality content, Dogecoin is secure, decentralized and provide total anonymity. Billy Markus created dogecoin from Portland, Oregon and Jackson Palmer from Sydney, Australia. Their vision was to fabricate a coin that is fun, light-hearted and has an appeal beyond the core Bitcoin audience. Dogecoin charges significantly lesser in comparison to other cryptocurrencies as the value of an individual token is less.

DogecoinOn April 18, at UTC 08:14, Dogecoin (DOGE) was trading at USD 0.002829. At the same time, it’s market capitalization was around USD 337,050,568. In comparison to BTC, it was valued at 0.00000054 per chip. Moreover, Dogecoin’s last 24 hours trading volume was approximately USD 32,440,689. With currently ranked at 24th place in cryptocurrency ranking, Dogecoin’s Return on Investment (ROI) rate is 406.34%. On March 24, it was trading at $ 0.002054, however, today after 25-days, its value raised at 0.002829 USD with a total hike of 37.7%.

Dogecoin (DOGE) hit the top of the Bollinger Chart on January 7, 2018, and traded at an overwhelming price of 0.018773 USD. Moreover, its recorded lowest trading price was 0.000085 USD on May 07, 2015. Yesterday, it opened at 0.002837 USD and closed around 0.002810 USD with an intraday loss of 0.000027 USD (0.95%). However, Dogecoin once was trading at 0.002861 USD the previous day, hitting the highest intraday mark but soon stooped to 0.002759 USD. The total trading volume of Dogecoin (DOGE) for yesterday was of 32,027,922 USD.

Prediction:

Dogecoin (DOGE) continues to be one of the most sought-after cryptocurrency with its current win against both USD and BTC. However, it is too early to reach any conclusion regarding what may happen until the end of 2019. Nevertheless, the current commitment in Dogecoin may lead to bullish trends in the crypto sector in the coming days. The relatively low transaction volume seems to be an advantage for Dogecoin, as it does not hamper market liquidity. For most Altcoin, low volume is considered too poor for future gains. However, this does not seem to be a problem for Dogecoin (DOGE) and further helped it in strengthening its market position. On the technical front, Dogecoin seems to be entering a big bull season as of now and can bring profit to the investor in the short term. Not to forget that Dogecoin (DOGE) has, time and again, proven that it is the industry’s most stable crypto coins. And this has caused Dogecoin to lose much less value than expected. Its value will always be of great interest to the crypto-currency industry, regardless of the direction in which the price goes.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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