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Price Analysis

Dogecoin (DOGE) Price Analysis: Still No Effective Support Resistance To Push Up The Value Of DOGE

DOGE is still in the fluctuating zone, and it is still deprived of strong support resistance. Its trading volume is not at all good, and it is probably “non-existent.” Its liquidity is highly inflated, and this indicates that DOGE can have high fluctuations in future as well. Although, DOGE has solid buy support and it has been ranked in the “B” category with overall 701 points as of the information of 5th May 2019. Its user activity has scored 924 points, followed by its developer activity and market maturity consisting of 539 and 644 points respectively.

Current status:

  • Current price: 0.002938 USD
  • Market cap: 351,488,842 USD
  • Market rank: 30
  • Circulating supply: 119,628,689,299 DOGE

Price analysis and future price predictions:

Dogecoin

The above chart indicates that at present, DOGE is getting traded at 0.002951 USD or 0.00000037 BTC (UTC time 06:48). Its current 24h volume is worth of 56,334,893 USD. The same chart shows that approx. 1 month earlier, DOGE had a trading value of 0.002521 USD with a market cap of 300,619,661 USD. So, within this one month, the value of DOGE has spiked up by 17.05% with 0.002685 USD as a good support resistance.

Based on its current condition, we think that DOGE can trade around 0.0035 USD by the end of this year.

Conclusion:

DOGE itself is very appealing due to its present and owing to have a vibrant community. DOGE, including all other altcoins, will be on the verge to lose their value to BTC due to the turbulent nature of the same and intense volatility that is currently prevailing. It is, therefore, not a good idea to invest in DOGE for long term basis.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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