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Price Analysis

Dogecoin’s (DOGE) Alliance With Trippki To Bring A Bullish Pace In The Short Term

  • The short term, as well as the medium-term outlook, is bullish.
  • Dogecoin’s tie-up with Trippki will push the coin’s value to newer heights.

Dogecoin (DOGE) was split out of Litecoin in 2013 and now it is being operated as a decentralized and peer-to-peer digital currency platform. It is based on a famous internet meme of “Doge.” It is best known for its anonymity and privacy-related features.

Current Statistics-

Dogecoin

  • Dogecoin (DOGE) is the 29th largest crypto coin in the global crypto market.
  • The ROI (Return on Investment) of this coin stands at 350.30%.
  • 119,405,899,704 DOGE coins are in current circulation.
  • The current market cap of Dogecoin stands at 299,760,463 USD on 08th May at 06:04 UTC.
  • The value of each Dogecoin stands at 0.002510 USD and 0.00000043 BTC.
  • The 24h volume currently stands at 32,393,599 USD.

Comparison-

Since the starting of the year 2019, Dogecoin has been performing at a stable pace. It started at 0.002 USD and the lowest point of the year was achieved on 8th February at 0.0018 USD. However, the value of Dogecoin inflated at the onset of April. It managed to get growth of 100% in just 4 days during the April market boom. Since the market boom, the coin is going through a price correction stage. The market cap of Dogecoin on 08th April was 388,280,749 USD and the value of each coin was 0.003263 USD and 0.00000062 BTC. The current market cap is 22.79% less than the market cap of 08th April.

Prediction-

Recently Dogecoin has made a tie-up with hotel booking platform Trippki. This is not the first time a crypto coin is making alliances with this platform. This platform is now catering to many major cryptocurrencies like Bitcoin, Litecoin, Ethereum, and Monero. Dogecoin is also added to the Coinbase wallet recently. These things will work positively for the coin in the medium term as well as the short term. The short term outlook is absolutely bullish. The next resistance will be faced at $0.00400, $0.004500, $0.005000. By the end of 2019, the value should go past the 0.005 USD mark of resistance.

Conclusion-

We advise potential investors to wait for the right time to buy Dogecoins. The value will be on an uptrend soon. Holding coins until the 1st quarter of 2020 is advised to fetch the maximum on Dogecoin’s fortune.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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