Price Analysis

Dogecoin Price Analysis: Dogecoin (DOGE) Receives Some Heads Up From McAfee

John McAfee, the software pioneer, is popular for his straight comments on the cryptocurrency. He is known to pull the jokes and rumors around the coins and is definitely not shy to pursue the same. This time, he pulled his trigger towards Dogecoin. But, to the surprise when Dogecoin is known to be a joke in the market, he appreciated the market cap growth of the same.

No matter what the value trade is, but Dogecoin has attracted a massive number of traders over a year. Unlike the stock market, he commented that Cryptocurrency market value is based on pure usage, which makes Dogecoin as the fastest growing one as the market cap value has reached $360 million.

With comments of McAfee, let’s see if the traders change their mind and bid on the meme coin or not.

DOGE Price Analysis on 31st May 2019

Dogecoin price chart - may 31

At 10:04 UTC time, the value of Dogecoin is traded at $0.0034. After the crazy tweet by John McAfee on May 27th, Dogecoin might have seen some surges in the upward trend on May 30th. But the question is whether it will continue to surge or not? The return of investment of Dogecoin is looking at 508.39% with ranking at number 28. The market cap of Dogecoin can be seen at 407,012,324 USD with 24-hour volume at 101,651,965 USD.

Dogecoin Value Comparison:

Dogecoin chart - may 31

 

No matter what the rumors talk about, but must appreciate the guts and words of John McAfee, as Dogecoin is showing some surges on the chart after all. Traders stuck to Dogecoin on long term investment might have seen cloudy days at the beginning of the year when the lowest was realized on 6th Feb at $0.00182. Today, the market has been 86% growth from the lowest of the year.

Some investors did make some money by April when the highest value touchdown was realized on 4th April at $0.003704. However, the market is dropped to 8% from then but surely didn’t make much of a difference.

Doge price chart - may 31

But the excitement like dolphins is more attracted towards the short term investment. However, the meme coin is more enjoyed on the trolling platforms, but few traders can really see some figures changing in short term investment. But is it going to continue or the coin will walk towards grave? Time is the only source of confirmation here.

Dogecoin Price Prediction and Conclusions

Traders have of course switched their interest from Dogecoin to many other altcoins. However, such a drift might bring silence in the Dogecoin chart soon. With no major updates and collaborations, Dogecoin is seemingly gaining market of trolls and jokes!

However, John McAfee commenting some positive lights on the life of Dogecoin might bring a surge, but it does not commit the real numbers to the investors. Are traders preparing to say goodbye to Dogecoin already? Or are they going to invest in a short term plan? Is June going to bring a better change in the shape? Traders are waiting for some grounding updates, and so is everyone!

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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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