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Price Analysis

Dogecoin Price Analysis: What is Dogecoin (DOGE) Aiming for? A Run or Just Network Growth?

Billy Markus is known to be the real person behind the brains of Dogecoin. He recently commented that he was very much in favor of Bitcoin, but his wife didn’t like the whole idea and mind behind Bitcoin. That is when she gained a lot of interest in Dogecoin shifting the interest of Billy Markus as well.

She started mining Dogecoin by herself as it requires a basic system to do so unlike industrial strength processors, which are the basic requirement for Bitcoin. He also commented that his intention is not to compete with the sharks in the market at all, but rather grow the community and network of Dogecoin alone. However, whether it is really working for Dogecoin or not is a major concern now.

Let’s see what Dogecoin value has to offer on a fine day of 4th June

Dogecoin Price Analysis on 4th June 2019

dogecoin chart - june 4

There seems to be a small dip in Dogecoin value today. The value of DOGE price is trading at $0.00310 at 5:05 UTC. The Return On Investment that Dogecoin value currently fetches is 455% and ranks at the 28th position in the crypto market. The market cap of DOGE is 371,853,072 USD with 24-hour volume at 79,794,745 USD.

DOGE Comparison:

Dogecoin, performing good or bad, is surely engaging audience for the same. Whether you wish to consider Dogecoin as nothing but promote it as MEME coin or whether you are seriously considering DOGE to add in your investment portfolio, Dogecoin is everywhere!

Comparing the recent trends, Dogecoin price can be seen above the baseline, which means that the trend is generally positive for the short term investment. But if the investors, due to the popularity are expecting Dogecoin price to touch $1 soon, should particularly know that this is a myth for the price it is currently trading (0.0031 USD) in the market. Since the beginning of the year (when the value was trading at $0.00240), the value has definitely increased by 29.16%.

Dogecoin Price Prediction and conclusion

The question here is whether a 29% increase in the value since the beginning of the year is what a trader and an investor want? Compared to the other altcoins, the ratio might be smaller, but still, traders wish to pass their luck with the same.

Dogecoin seems to go in a dip today but might reverse the movement to having an upward trend. By the end of the year, one might see the value touch down at $0.005. But, only time will tell whether DOGE will remain in the race or not! Because truly Billy doesn’t seem to be a part of the race, but only wants to grow his own networks. But is that enough to survive is a major concern here!

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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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