Latest information about Dogecoin
From a fun project to the darling of the crypto scene: The Dogecoin has meanwhile increased significantly in value. But how sustainable is the hype? And is it still worth investing?
Measured by market capitalization, DOGE is one of the ten largest cryptocurrencies in the world. It is currently in tenth place, but has now been in fourth place. Most recently he was ousted in the ranking by meme co-competitor Shiba Inu (SHIB). Is the crypto currency Dogecoin a veritable alternative to crypto market giants such as Bitcoin and Ethereum? The most important questions and answers.
Dogecoin has risen more than 65,000% since its low point in the first quarter of 2020. However, Dogecoin has been in a corrective movement since May and has been trending sideways for several months. The important Fibonacci resistances at USD 0.38 and USD 0.52 have so far remained unaffected and as long as these are not broken, the Dogecoin price has no chance of a new all-time high.
It is difficult to make a precise forecast of how the Dogecoin course will develop. Because: Dogecoin is considered to be extremely volatile. On the one hand, this is due to the fact that few investors hold a large proportion of all Dogecoin stocks. On the other hand, organized groups on the Internet like to make fun of driving the price of the crypto currency up for a short time.
Trade Team Forecast
For us the coin has no future, for a short time you can make a lot of profit with it. But in the long run the coin will go under. We assume, however, that the Dogecoin will remain stable until the beginning of 2023.