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Price Analysis

Dogecoin (DOGE) Price Analysis: Strong Market Sentiments & Community Support Is The USP, Buy For A Good Long Term Return

  • The current Dogecoin Vs. USD price is at $0.002500, with a return on investment of 347.49%.
  • Charity named ‘Dogecoin Socks for The Homeless’ is doing great in keeping the crypto in the news.

Dogecoin (DOGE) was launched as a cryptocurrency that can be given as incentives for sharing content on social media like Reddit and Twitter. Moreover, the community treats Dogecoin as a fun kind of altcoin, having a greater appeal beyond the serious trading audience.

Analysis:

Dogecoin

  • According to CoinMarketCap, Dogecoin (DOGE) is at 29th place in cryptocurrency rankings.
  • On May 10, at UTC 06:34, the 24-Hour volume was 34,703,602
  • At the same time, total Market Cap of the crypto was 298,639,583 USD, with a total of 119,433,905,019 DOGE coins in circulation.
  • If you look at Dogecoin Vs. Bitcoin pricing, the crypto was valued at 0.00000040 BTC per chip.
  • 25-days, on April 14, Dogecoin (DOGE) was trading at 0.002882 USD, since then its value has declined by about 13.25%.

Comparison:

Time PeriodHighLow
All-Time0.018773 USD
(Jan 07, 2018)
0.000085 USD
(May 07, 2015)
Yesterday0.002572 USD0.002505 USD
7-days0.002783 USD0.002467 USD
30-days0.003080 USD0.002443 USD

Yesterday was a flat trading day for Dogecoin (DOGE) as it opened at 0.002534 USD and wrapped up the day at 0.002537 USD, with an intraday gain of 0.000003 USD (0.12%). The total trading volume of Dogecoin for the previous day was 32,200,704 USD.

Dogecoin (DOGE) Recent Projects:

Dogecoin has gained a height of popularity from the very first day, thanks to the ‘meme’ and frequent tweets by Elon Musk. In addition to that, Doge cryptocurrency enjoys a passionate online community of users and developers, who are deeply invested in the coin. Not to forget that the community has achieved some ground-breaking feats like raising funds for the Jamaican bobsled team to go to the Sochi Winter Olympics, to construct a well in rural Kenya for providing access to drinking water for the local population. However, these are not the only things; it runs a campaign named ‘Dogecoin Socks for The Homeless’ that has been active for more than a year now. On top of that, they have their own pizza chain namely ‘Doge Pizza.’

Prediction:

Dogecoin-BTC pair is interlinked and just like any other crypto. The movement in Dogecoin is concomitant with the action in Bitcoin, and according to analysts, a bullish trend in BTC is soon to happen. So, as per our speculation, Dogecoin prices are low right now and it is a good time for buying, looking at the future of the altcoin.

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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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