Dogecoin Price Analysis: DOGE Badly Affected by the Price Drop; Monthly Chart indicates Disappointing Closing Digits

Dogecoin (DOGE) has fallen on its knees during the month-long downtrend. The coin was dealing with a better momentum at the beginning of the month. There were high expectations from the coin to rise on the chart as Bitcoin was riding the bull.

The expectations with the coin got ruined after the heavy fall in the crypto market. During the first few weeks, the coin displayed a great potential to keep the price at a moderate downfall, but couldn’t resist the fall. The monthly chart is reflecting a heavy fall. Let’s have a look at the price chart of Dogecoin (DOGE).

Current Statistics of Dogecoin:

  • The price of the coin stands at 0.002852 USD.
  • The ROI (Return on Investment) is noted as 410.39%.
  • The 24hr volume is marked as 20,352,561 USD.
  • The coin is at the 29th rank in the crypto market.
  • The market cap of Dogecoin (DOGE) is 343,808,949 USD.
  • The circulating supply has 120,552,034,070 DOGE.

DOGE to USD Price Chart:

The chart is taken from Trading View on 29th July 2019, at 03:23:57 UTC for the price analysis.

Dogecoin Price Prediction
Dogecoin Price Chart

July began at $0.0032. The coin escalated to $0.0045 from $0.0032 by 37.63%. The currency soon came under the market pressure and fell to $0.0033 from $0.0045 by 25.65%. The coin kept falling on the chart. The next fall took the price from $0.0033 to $0.0030 by 7.95%. Further, the coin dropped to $0.0026 from $0.0030 by 12.22%. There was a small recovery marked amid the downtrend. The coin jumped to $0.0031 from $0.0026 by 19.10%. The coin couldn’t hold itself and fell on the chart again from $0.0031 to $0.0027 by 14.87%.

Dogecoin Price Prediction and Conclusion:

Bitcoin price momentum widely affects Dogecoin. BTC is currently at $9,000. There is high anticipation that the coin could touch $15,000 by the end of 2019. The same would bring an upsurge in the price of Dogecoin. The coin is expected to touch $0.0070 by the end of the ongoing year. Therefore, by going through Dogecoin Price Prediction, we can claim that towards the beginning of 2022, the coin might be at $0.0140. The coin is considered best for long-term investment plan. The said period will give the desired result to the traders.

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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