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Price Analysis

Dogecoin (DOGE) Price Analysis: Better Late Than Never As Dogecoin Joins The Ongoing Bull Run

  • In April, Elon Musk jokingly called Dogecoin his favorite cryptocurrency, increasing the coin’s visibility exponentially
  • Dogecoin has held onto the ground strongly and shows upward movement

Dogecoin (DOGE) started as a meme but has gained tremendous momentum & support of the community leading to higher trends. The crypto has been increasingly rewarding the contributors on Twitter and Reddit resulting in high demand and ride in DOGE’s adoption. Even till today, the support of believers has kept it floating with some upward surge now and then. The current market data also states the same.

Current Statistics:

Dogecoin Price Chart

  • Dogecoin is ranked at the 29th position in the global cryptocurrencies list
  • As on May 14, 2019, at 07:44:00 UTC, the market cap of the coin is recorded at 330,779,932 USD
  • The price of DOGE is trading at 0.0027 USD and 0.00000035 BTC
  • The 24 h volume has been 47,834,168 USD
  • The ROI of Dogecoin stands at 406.29%
  • Currently, the circulating supply of the coin is equivalent to the total supply and has reached over 119,489,349,891 DOGE

Comparison:

DOGE has reported a downward trend of over -31% in the past 45 days. The value of each DOGE moved between 0.0029 USD and 0.0024 USD in the last 30 days. As on April 04, 2019 at 17:34:00 UTC, the market cap of the coin was 473,871,616 USD, the price was trading at 0.0039 USD and 0.00000080 BTC, and 24 h volume has been 139,206,796 USD. The first resistance level of the coin will be seen in the next few weeks at 0.0028 USD.

Dogecoin Price Prediction until 2020:

DOGE has a popular community and reached its all-time high at 0.0187 USD on January 7, 2018. The price of each Dogecoin moved between the range of 0.0023 USD and 0.0020 USD till March. The value of the coin soared in April and has been maintaining a steady upward movement since then with only a few minor dips. Dogecoin can be expected to peak up to $0.009 till the end of 2019 and can grow as high as 0.01 USD in the next 2 years. The main concern, however, is how the team plans to keep it relevant in the long run. Making strategic partnerships can be one of the options.

Conclusion:

Buy Doge in small chunks now and observe the pattern before making huge investments.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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