DOGE Price Analysis January 2022
DOGE is a token of platform Dogecoin. Its current price is around $0.158 by writing, with a low of $0.007294 in 2021 and a market cap of 20 billion dollars.
What is Dogecoin?
Dogecoin is an open-source, peer-to-peer digital currency favoured by Shiba Inus worldwide. It was created by Billy Markus and Jackson Palmer in 2013 as a joke. Instead, Dogecoin aims to become a decentralized virtual currency that reaches more people than Bitcoin that will be available to all members of society.
Dogecoin is an open-source and decentralized digital currency, which has been created to serve as a tipping system on the internet. Initially, it was intended to reach a broader demographic than Bitcoin and other cryptocurrencies. Thus its name was chosen from the famous Doge meme. In addition, it wants to make it easier for people to use Dogecoin by providing an easy-to-use wallet with a simple user interface. Dogecoin is an open-source currency, which uses a proof of work system.
What is DOGE?
DOGE is the coin of the Dogecoin platform, which is around $0.158 by the time of writing, with a low of $0.007294 in 2021. Its current ranking is #12 according to CoinMarketCap, with a market cap of 20 billion dollars.
It reached a high of $0.7376, with a low of $0.007294. It was initially intended as a joke currency, but it has grown with popularity and has an ever-increasing market cap. It uses the same proof-of-work algorithm that Bitcoin does.
DOGE Coin Market Analysis
It has a total supply of 132,670,764,300 coins worth around $0.158 with a market volume of 969 million dollars, whereas the market capitalization is 20 billion dollars at writing.
DOGE Price Prediction
Prices for DOGE started to skyrocket when it received a tweet from Elon Musk that said he would send it to the moon. The price increased by over 100%, but it became stagnant after touching its all-time high and took a dive. On the 1W chart, DOGE is currently downtrend, with the previous price action forming a descending triangle. The price currently coincides with the demand zone.
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Nothing in this article is financial advice, and you should only invest in the market you believe is suitable for your portfolio.