Price Analysis

Dogecoin Price Analysis: Dogecoin (DOGE) price under selling pressure; soon to bounce back

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Dogecoin (DOGE) price is presently suffering in the market. The coin is believed to be crashed by selling pressure. In the last two days, the coin was seen surging up. Though the upsurge was not huge but gave the traders a sigh of relief. It appears that the coin will soon bounce back and regain its momentum.

The coin has a high prospect of profit in the future. This could be the perfect time to enter the market. The potential investors who are looking to enter the market can dig in now.

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Current Statistics of Dogecoin (DOGE):

The chart is taken from Trading View on 20th July 2019, at 03:02:47 UTC for price analysis.

Dogecoin Price Chart - 20 July
Dogecoin Chart by TradingView

As we can see from the chart, the month opened on a dull note. From 1st July to 4th July, the coin movement was the same. The astounding upsurge in the coin took place on 5th June 2019. The coin booked an escalation of 44.22%. The price of Dogecoin to USD counters changed from $0.0031 to $0.0044 just when Biance announced to list Dogecoin on its exchange. The coin started falling post the heavy leap. The price kept on slipping and touched a low at $0.0026. In the last few days, the coin escalated by 18.72% from $0.0026 to $0.0032. Currently, the coin is again in the bearish zone.

Summary of the statistics:

Particulars Dogecoin (DOGE)
Price $0.003063
Rank 30
ROI 448.09%
Circulating supply 120,413,489,473 DOGE
Market cap $368,780,255
24hr volume $21,423,990

Dogecoin Price Prediction and Conclusion:

Dogecoin to USD is currently bitten by a bear. The coin would soon come out of the downtrend. It is anticipated to achieve high digits on the price counter. The currency holds a high value in the crypto market. Dogecoin is considered as the alternate option of Bitcoin as it possesses similar momentum as Bitcoin. We are anticipating that this sluggish time would soon pass as the rest of the market is moving up. The coin is likely to touch $0.0070 by the end of 2019. The long-term investors are best suited for Dogecoin.

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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