Price Analysis

Dogecoin (DOGE) Price Analysis: Will Dogecoin Become The Mass Favorite By The End Of 2019?

eToro
  • Dogecoin is sailing well although fall in the coin ladder by one place
  • Dogecoin to find a strong reason to convince and hook investors for long term

Elon Musk must have called Dogecoin as his favorite cryptocurrency on Twitter, but the stir it created will not last forever. This blockchain based currency has to find a strong holding in technology or partnerships to keep enticing new investors. Dogecoin is currently used to reward content contributors on Twitter and Reddit, and although the business model is effective to increase mass adoption and awareness, there is a dire need to increase the acceptance by making a serious impact which can depict its long term sustenance capability. The current market data displays a positive picture.

Current Statistics:

Dogecoin Price Chart

eToro Crypto
  • Dogecoin is ranked at the 29th position in the global cryptocurrencies ranking
  • The ROI of the coin stands at 435.05%
  • As on May 21, 2019, at 10:49:00 UTC, the market cap of the coin is noted at 357,729,296 USD
  • The price has reached 0.002991 USD & 0.00000038 BTC
  • The 24 h volume is now 53,939,577 USD
  • The circulating supply is same as the total supply which is now 119,587,007,364 DOGE

Comparison:

In the last 30 days, the price of the coin moved between the range of 0.0035 USD and 0.0024 USD. A similar pattern was noted in the last 7 days as well. As on April 23, 2019, at 01:34:00 UTC, the market cap of Dogecoin was recorded at 334,387,774 USD. The price of the coin reached 0.0028 USD and 0.00000052 BTC. The 24 h volume is now 36,931,035 USD. There has been an upward trend of over 3% in the past month.

Dogecoin Price Prediction until 2020:

The all-time high price of Dogecoin was noted in January 2018 at 0.018 USD. The price has drastically fallen since then due to the crypto market fluctuations but is now rising once again and reached as high as 0.0040 USD in the April market surge. Dogecoin came into the picture from nowhere almost 6 years ago and has firmly established its presence since then but with the increasing competition, Dogecoin has to up its game. The price of the coin can reach up to 0.0090 USD by the end of 2019 and can cross 1 USD by the end of 2020.

Conclusion:

Keep an eye on the market trends before making an investment in Dogecoin. For long term investments to gain good results, it is better to buy DOGE now.

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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