Dogecoin Price Analysis: Dogecoin (DOGE) Downtrend Shows No Legs; Future Indications Are Good

Dogecoin is often considered as an alternate option for Bitcoin. The reason behind this is price momentum. Apparently, the coin is currently suffering because of the same reason.

Bitcoin is also falling, and the Dogecoin is showing no signs of improvement. The intraday traders would be quite disappointed today. The coin is speculated to keep a low profile for the rest of the day. There could be a recovery in the upcoming days.

DOGE to USD Price Comparison:

Dogecoin Price Prediction
Dogecoin Price Chart

The 5-day Dogecoin chart is reflecting a downtrend in the coin. On 5th August the coin opened at $0.002966 and jumped to $0.003186 by 6.92%. Towards the end of the day, the DOGE price slipped from $0.003188 to $0.002940 by 7.79%. The intraday loss marked was of 0.93% as the closing price was of $0.0029. Next day, the coin again opened with an upsurge of 8.83%. Dogecoin price counters changed from $0.002940 to $0.003200. The coin booked drops during the day. The first drop took the price from $0.003200 to $0.002902 by 9.30%. The second drop took the price from $0.003045 to $0.002868 by 5.80%. Today, the coin again climbed. The inclination is of 6.37%.

Dogecoin Price Prediction and Conclusion:

Dogecoin was never the expectation of the traders. Many believe that the coin is a blind follower of Bitcoin, but we believe that the coin has a great potential too. The coin has kept itself at a rigid level during the last month’s price drop.

The traders who are interested in the coin should plan for a long term investment. The same would help the traders earn huge returns. And also, by going through DOGE Price Prediction data, we can say that the coin price is anticipated to move above $0.007 by the end of 2019. Altogether, the future of the coin is bright.

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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