Price Analysis

Dogecoin Price Analysis: After A Swelling Week, DOGE Continues An Upward Trend

Dogecoin is no joke anymore. The worth of Dogecoin has increased more than $350 million in the network and is known as one of the most active communities in the Cryptocurrency. As per the data which has revealed by dogecoin.info, there are major 4 miners who are controlling approximately 55% of the network of Dogecoin. However, it brings its own risk where Dogecoin can suffer 51% attack or rollback transactions by these miners.

It makes the coin fragile and volatile. Only the price statistics can say if the value is affected by such news or not.

Price Analysis of Dogecoin on 10th June 2019:

At 7:01 UTC, the value of the Doge is trading at $0.00292. After the dip from three days, the value can be seen flowing towards the upward direction. The remaining essentials are as follows:

Return on Investment441%
Market Ranking29
Circulating Supply119,864,767,596 DOGE
Total Supply119,864,767,596 DOGE
Market Cap362,969,030 USD
24 Hour Volume71,507,341 USD

Dogecoin Price Comparison:

Dogecoin Price Chart - 10 June

The 2 highest of the value seen in this year was $0.003703 on 4th April and $0.003505 on 31st May respectively. The value today is dropped by 18% and 14% respectively. However, the value might increase in the coming week with an increasing supply of the coins.

Dogecoin Price Chart - 10 June

In one-month price analysis, the lowest of the month was seen on 11th May at $0.002489 and 17th May at $0.002705 respectively. The market has been an increase of 20% and 11% from then.

Dogecoin Price Predictions and Conclusion:

Doge is surely catching the eyes of the traders as the community is already engaging among 35 million users. But the users are still concerned with the 4 major miners who are running the almost 55% of the network. In such cases, the coin becomes too fragile. But for some, such news doesn’t feel affect their short term and long term investment in their favorite coins.

But well, we can just hope that Dogecoin really stands on the expectations that users are bidding on for!

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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