Price Analysis

Dogecoin Price Analysis: If Dogecoin (DOGE) Continues To Surge Upwards, It Might Not Lose The Race!

Is Dogecoin really about the visibility now and not the value? Is Dogecoin going to attract traders as a permanent and one of the favorite cryptocurrency in the portfolio so far? DOGE must be running its cuteness everywhere, but speaking of the real numbers, it brings disappoint with it as well!

However, with the announcement of Elon Musk as the new CEO in April did bring some hype and visibility in the market, but the long term commitment is still yet to be analyzed for Dogecoin. Users following Doge from quite some time do not really wish to call out Dogecoin as their favorite one just because of the jokes behind the same, but also want to see the upsurge of the coin’s price as well.

Dogecoin Price Analysis

Dogecoin price chart - june 6

At 11:37 UTC, the value of Dogecoin is trading at $0.003054. DOGE is currently ranked at 29th position in the cryptomarket. Dogecoin currently fetches 449% Return on Investment. The Market Cap is 368,110,131 USD, and the 24-hour volume is standing at 74,885,185 USD. The current Circulating Supply is similar to the Total supply at 119,809,177,262 DOGE.

DOGE Comparison

Question: What to prefer: Short term or long-term Investment?

Dogecoin chart - june 6

Considering the five days chart, the value is trading below the baseline, which means that investors might wish to have a long position in the investment of Dogecoin. The market seems to follow an upward surge soon so that short term investment can be fruitful as of now.

Doge price - june 6

Meanwhile, taking a look at the chart since the beginning of the year, traders are more attracted to the surges since the beginning.

Answer: It might be a good option to stick to short term goals, as DOGE might surprise in the future if at all, it follows the current rising trend for a good time.

Dogecoin Price Prediction and Conclusion

DOGE is relatively showing some improvement since the beginning of the year! It might not go dead after all! It seems that it will sustain an upward trend. But for the attention that it needs to seek from the users, it must uphold an increase of at least 20% in the value. The supply and the trading value will witness some positive changes then!

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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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