Price Analysis

Dogecoin (DOGE) Price Analysis: DOGE Becoming A Real Mystery; Is It Dead Already?

Dogecoin (DOGE), the Meme Coin! Well, the name is quoted for the reason that we all are aware of! Investors are screaming out these days as to whether there are a future and return of investment in Dogecoin or not? Everyone is desperate to look for better news on Dogecoin. However, it seems that it might not happen very soon, which will declare Doge Coin in the oversold terrain.

At such a situation, the breakdown in the price is generally realized as updated by CNN, surging the same when it finally happens. And if such a situation happens, the record might get tripled this time, but of course one cannot base their decision on this assumption. These all are theories which can bring change in the statistics and figures of Dogecoin.

Price Analysis of Dogecoin on 28th May 2019:

Dogecoin Chart 1

The price of the Dogecoin shows not much fluctuation and stands at $0.00314 at 7:37 UTC time. The market rank, however, has switched to number 29 from 30. But does it change anything? The Return on Investment of DOGE is 461%, followed by Market Cap value and 24-hour volume value at 375,336,496 USD and 79,785,238 USD respectively.

But will the value today shake the decisions of the investors? Is there a future of investing in Dogecoin? Such questions are already paining the accounts of the investors. Let’s compare some figures that might help investors with a definite choice they must make.

DOGE Price Comparison:

Dogecoin Chart 2

The start of the year was showered in red inking at the value of $0.002423. Comparing the statistics from the 1st day of the year, the value has increased to 30% but is not bringing the investment return to the investors.

Dogecoin Chart 3

A little positive surge was seen on 4th April when the value kicked off the sudden escalation to 0.004134 which is a 70% rise from the 1st day of the year and 30% more than the current value. So what is going to happen? Is it dead already?

DOGE Price Predictions:

Short-Term Investment:

Dogecoin Chart 4

It might be a good time to invest in Dogecoin if you are thinking of short-term investment. This month was a picky one, and thus it might bring some real fruit in your figures.

Long-Term Investment:

Dogecoin chart 5

The sweet fruits might not be realized in long-term Investment. 2018 might have been a charm in the Dogecoin charts, but with a consistent downward trend, you might not want to go for a long-term commitment with the meme coin.

In fact, the crashing of Dogecoin is in the air already. However, nothing is confirmed, but it is not going to surpass the big sharks in the Cryptocurrency.

The year-end might value the price around 0.05USD if it continues to grow, which is unlikely the situation.

Conclusion:

The resistance level can be stated between 0.005 to 0.01 USD for the investors. But the coin might face sudden volatility, whether it will be in favor or against is certainly a concern for the investors.

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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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