In particular, news or developments related to major cryptocurrencies such as Bitcoin and Ethereum could influence DOGE’s price trends. DOGE’s performance are often closely tied to the overall market sentiment, so any major changes in the market could have a significant impact on the coin’s price movements. In addition, negative sentiment towards DOGE could exacerbate its current bearish trend, as more traders become wary of investing in a cryptocurrency that seems to be losing its momentum.Īnother factor to consider is the broader cryptocurrency market. Low trading volumes can make DOGE vulnerable to sudden price swings, which could either trigger a sharp price increase or a steep decline. One key factor to watch out for is trading volume. With the cryptocurrency market in a state of flux, it’s important to keep a close eye on the factors that could influence DOGE’s price movements in the coming days and weeks. The recent bearish breakout and price slump of Dogecoin has raised questions among traders about what lies ahead. On Low Trading Volumes And Sudden Price Swings The live price of Dogecoin is 0.0748705 per (DOGE / USD) today with a current market cap of 10.43B USD. However, the recent slump in the coin’s price has been particularly worrying, as it appears to be part of a larger trend of bearishness in the cryptocurrency market. Investors are now questioning whether the price dip is temporary or a sign of more trouble ahead for the meme-inspired cryptocurrency.ĭOGE has always been a volatile investment option, with its price going through several cycles of surges and crashes. However, the overall trend indicates a depreciation of over 20% since the second half of April. The current DOGE price of $0.0731 on CoinGecko suggests a mixed bag of fortunes, with a slight 1.07% rally in the past 24 hours and a slump of 6.8% over the past seven days. This comes after DOGE hit the price ceiling near $0.1000 on April 18, after which it sustained a price dump. Dogecoin USD (DOGE-USD) Price, Value, News & History - Yahoo Finance U.S. Uncertainty Looms As Dogecoin Faces Price SlumpĭOGE has experienced a bearish breakout from its previous price consolidation range since May 8, according to TradingView.
The bearish trend in the Dogecoin daily chart has cast a cloud of uncertainty over the future of this once-popular cryptocurrency.Īs the popular meme coin struggles to regain its footing, investors are left to ponder what factors have contributed to its decline. In the face of the recent downturn in Dogecoin’s fortunes, many investors are grappling with the question of whether it’s time to cut their losses and move on. The daily chart of Dogecoin was overly bearish, with trading volumes stunted and negative sentiment growing among investors. It is based on the popular “Doge” memes that were popular at the time.ĭogecoin has a circulating supply of over 100 billion coins and a total supply of over 5 trillion coins, making it one of the most abundant cryptos in existence.Dogecoin (DOGE) has recently experienced a rather rough ride. Bitcoin was lagging slightly, edging about 2 lower, while Dogecoin was the most muted of the three, edging higher by about 1. Here’s why:ĭogecoin is a cryptocurrency that was created in 2013. Ethereum was leading the crypto sector during Friday’s 24-hour trading session, rising more than 5, in tandem with the general market, which saw the S&P 500 surging about 2 higher. If you’re looking for a good investment, Dogecoin is a great option. By Jack Denton Updated 9:12 am ET / Original 7:16 am ET Order Reprints Print. This means that investors could lose money if they invest without doing proper research first. Dogecoin Rival ‘Pepe’ Plunges After Market Cap Nears 2 Billion. Cryptocurrencies are volatile and their prices can fluctuate rapidly. Note: Investors who are considering buying Dogecoin should be aware of the risks involved. Plus, by investing in Dogecoin, you can diversify your cryptocurrency portfolio without breaking the bank. The price of Dogecoin is much lower than that of Bitcoin, so it’s easier for those with smaller budgets to invest. Third, its relatively low price makes it a good entry point for investors who are new to the cryptocurrency market.ĭogecoin is an affordable way to diversify your portfolio. This is great for those looking to make fast and secure payments. Compared to Bitcoin transactions which can take up to 10 minutes to process, Dogecoin takes just a few seconds. Dogecoin transactions are incredibly fast.
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