Dogecoin is a recently discussed cryptocurrency in the highly volatile crypto market. DOGE is a token of the platform Dogecoin. Its current price is around $0.06373 by the time of writing, with a low of $0.04972, and has a market cap of 8.4 billion dollars.
DOGE has been gradually increasing in price as more people have become aware of it and have become interested. Whenever Elon Musk mentions it on social media, prices rise even more. The price increase is followed by an investing frenzy that often leads to profits for those involved.
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What is Dogecoin?
Dogecoin may have been originally used as a form of online tipping, but it has evolved into something much more. Not only is it a great way to pay for goods and services, but you can also hold them if you feel the price will go up in the future.
What is DOGE?
DOGE is the coin of the Dogecoin platform, which is around $0.06373 by the time of writing, with a low of $0.04972. It reached a high of $0.351, and its current ranking is #10 according to CoinMarketCap, with a market cap of 8.4 billion dollars. DOGE is primarily a community-driven coin that lets investors invest in the Dogecoin ecosystem.
DOGE Coin Market Analysis
DOGE has a total 132,670,764,300 supply of coins worth around $0.06373 with a market volume of 431 million dollars, whereas the market capitalization is 8.4 billion dollars at writing.
DOGE Price Prediction
Dogecoin is a problematic investment. Its price has not increased over the past year, which means it may offer poor returns in the long term.
On the 1D timeframe, the price action of $DOGE/USDT works inside the wedge. We have to wait for a successful breakout or breakdown.
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Closing Thoughts
Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
