The popularity of the cryptocurrency Dogecoin grew immensely in recent months as the altcoin reached a market cap of 39.85 B USD. The coin was created in December 2013 as a social meme to mock the inflation of Bitcoin, and quickly achieved its one millionth transaction block in May 2014, along with its own subreddit and Twitter channel. Since then, the coin has been owned by notable figures such as Jackson Palmer, the creator of Dogecoin, and Jackson Palmer’s dog, known as “Doge”.
Dogecoin, sometimes known as DOGE, has been one of the most talked about cryptocurrencies, and there are already many coins that have adopted its technology. With a total market cap of $32.5 million at the time of writing, DOGE is the 37th most valuable altcoin, but there’s no doubt that it will be one of the frontrunners in the next few years.
At the time of this writing, the price of Dogecoin has been hovering around $0.01 USD. Dogecoin is currently gearing up for its fourth annual global-scale rally, which will take place on December 27th, 2014. This is the year that Dogecoin will make its way onto the New York Stock Exchange, and the year that it will finally hit the moon. To get a better sense of what this means for the price of DOGE, look no further than the charts below, which show the price of Dogecoin from January 1st, 2014 to December 27th, 2014.. Read more about price prediction for dogecoin and let us know what you think.Summary of the situation
- Analysis of the dogecoin price highlights DOGE’s 40% rise.
- Dogecoin jumped up after being listed on Coinbase.
- Critical indicators show that a price reversal is imminent.
Dogecoin has been in business since 1. June showed an impressive price movement, which allowed the bulls to regain some of the positions they had taken during the stock market crash on the 19th. May was lost. The dogecoin fell to $0.21 during the stock market crash, after which it recovered strongly and passed the $0.4 mark. Despite this impressive comeback, Dogecoin has seen a price drop that has left it in a price range of $0.27 to $0.36.
Dogecoin Price Analysis: Price Overview
Before it appeared on one of the world’s leading cryptocurrency exchanges, Coinbase Pro, Dogecoin’s price movement was slowly declining. When the listing was announced, the price of the cryptocurrency rose sharply, but not enough to break the critical resistance barrier. The dogecoin posted a loss between the 26th and 29th. May fell 23% before finding support at $0.293. Bouncing on this support level, the crypto added $0.328, prompting the momentum reversal indicator to signal a reversal. Despite this, Dogecoin has begun a 40% uptrend thanks to news from Coinbase, pushing it towards the $0.450 mark. While this price action was very strong, Dogecoin was unable to overcome resistance at $0.45 and the critical supply area between $0.480 and $0.515. Dogecoin’s premature fatigue seems to be pushing the crypto-currency’s price towards the next support level around $0.399. This is confirmed by the action of the Momentum Reversal indicator, which shows a premature signal from the cycle stop in the form of a yellow downward arrow. This duality means that the upward movement of the Dogecoin price may not be over yet and investors should prepare for a possible upward movement in the near future. In this case, meme-themed crypto assets could rise another 16% and retest the lower trendline of the $0.481 supply area. When all of these events occur, the Momentum Reversal indicator shows a red candlestick indicating that a full reversal signal is about to happen. This will result in a price correction of one to four candles.
Dogecoin price movement in the last 24 hours
Source: TradingView The recent Coinbase Pro IPO has brought a breath of fresh air to the growing crypto business. Following this news, investors rushed to buy the cryptocurrency again over the past 24 hours, suggesting that this move is legitimate. Moreover, many investors now believe that other platforms will adopt crypto tokens as an acceptable payment method, hence the ongoing rush to accumulate DOGE tokens. As Coinbase prepares to start trading Dogecoin on its platform, liquidity will increase. Many crypto currency pairs and currencies are currently available for trading in crypto currencies.
Graphical Dogecoin 4 hours
Source: TradingView According to Dogecoin’s 4-hour chart, the 50 and 100 simple moving averages have been broken, paving the way for a price rally towards the coveted $0.4 level. At the time of writing, Dogecoin is trading around $0.383 and the moving average divergence convergence is above the signal line but moving downwards. This means Dogecoin expects a short-term price decline before returning to the $0.4 level. As for the Relative Strength Index, Dogecoin is above its midline, but moving quickly into negative territory. Despite the formation of a bearish setup, Dogecoin is poised for a strong price recovery to break the immediate $0.45 resistance barrier and reach the $6 level.
If the bulls fail to secure Dogecoin above the $0.37 support level, the cryptocurrency could either experience a sideways price movement or form a negative price trend. As a result, the cryptocurrency could lose 8% of its growth and settle around the $0.37 price. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.While the Dogecoin price has been fluctuating over the past couple of weeks, we have seen a major correction towards the end of last month. This correction was driven by a lot of sellers and bulk buyers, which resulted in a sharp sell-off followed by a fairly quick recovery. This is a typical pattern in cryptocurrency markets, as a lot of new traders enter the market and get stopped out with losses.. Read more about dogecoin market cap 2021 and let us know what you think.
Frequently Asked Questions
Will Dogecoin reach $1?
Dogecoin is a fun and unique cryptocurrency that has supporters around the world, thanks to its unique and easy-to-understand value proposition. As you may know, the official Dogecoin phrase is “to the moon!” Thus, Dogecoin is named after the moon—a potential destination for this cryptocurrency, as it continues to climb in price. Dogecoin is a cryptocurrency that seeks to improve the efficiency of financial transactions and make them more flexible. On this note, the Dogecoin price has seen a marked increase this week, and it is currently trading at $0.004574391. With a market capitalization of $0, the coin is currently the 45th most valuable cryptocurrency in circulation.
What will Dogecoin be worth in 2030?
The Dogecoin project is based on the Doge meme, which has gained popularity in the past few years. The project’s goal is to help people worldwide get more exposure to crypto currencies. Dogecoin is a high-profile altcoin with a dedicated community, lively subreddit, and a loyal group of adopters who see it as a fun alternative to bitcoin. The coin has also garnered much interest in the media, with the now-defunct Dogecoin Times reporting on the coin’s price in 2014, and Dogecoin’s own subreddit hosting a subreddit called “Dogecoin Value”. One way to look at Dogecoin is as a joke cryptocurrency, but there are also aspects of it which suggest Dogecoin could become a serious competitor to bitcoin.
How much will Dogecoin be worth in 5 years?
Dogecoin has been a popular Cryptocurrency ever since its inception in 2013. The currency was created as a joke, where people distributed money as donations to the Doge-the-Dog Comic. But, as it turns out, the coin has gotten a lot more than just a good joke. It’s use has spread beyond just the Internet, with the currency now being used to purchase hardware, clothing, and even car parts. At the time of writing, Dogecoin is valued at $ 0.002 per coin. That’s a 40% growth rate over the last month, and a million dollar total market cap. In the past few years, Dogecoin has gone from being a cute novelty cryptocurrency to becoming a vital part of the digital world. It’s become accepted as a means of exchange by a growing number of merchants, and its fans have become more vocal in pushing it to new heights. But just how much is Dogecoin going to be worth in the future?
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