Dogecoin Price Analysis: Will DOGE/USD Price surge in this Bear Market?

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Dogecoin (DOGE) has a price of 0.002416 USD, today on April 30, at 06:20 UTC with a return on investment (ROI) of 350.25%. If you look at the market capitalization of Dogecoin, it is around 299,925,398 USD, with 119,280,836,647 DOGE tokens in circulation. As for the commercial variation of 25 days, on April 4, the crypto value was 0.003697 USD. However, the market value of Dogecoin has decreased by a wide margin, and yesterday it is trading at a loss of almost 32%.

Historically, the historical maximum of Dogecoin was marked on January 7, 2018, with a trading price of 0.018773 USD, while it touched a historic low of 0.000085 USD on May 7, 2015. For the previous day, the cryptocurrency trade began with 0.002520 USD and in the intraday trading session, strengthened its value by 0.000012 USD (0.46%) and closed the day with 0.002531 USD. The highest and lowest recorded value of crypto for yesterday was 0.002563 USD and 0.002502 USD respectively. Speaking of the volume of trading in the currency, yesterday it’s trading volume was 25,600,272 USD.

Dogecoin (DOGE) is a cryptocurrency that emerged in the market of cryptography as a joke. However, since its launch, investors have taken it seriously, and it has a greater appeal than traditional Bitcoin. Dogecoin was initially used as a incentivize coin in several social networking sites. With the rise of social networks and Internet culture, the value of Dogecoin (DOGE) will increase only. A large number of applications and websites such as Litebit, Anycoin, Suchlist, keys4coins, dogegifts, clockworkcrypto and a leading official Reddit bot are currently working on the tilt mechanism. This is good news for cryptocurrency, as it will provide users with more and more ways to spend Dogecoin (DOGE).

Dogecoin (DOGE) has been losing its value at a constant rate for a month. However, there are few positive points in the Bollinger chart on the value of crypto, but in addition to the optimistic speculations of analysts and some funny tweets from philanthropist Elon Musk, nothing is going well for Dogecoin. If we look at the current position of simple moving averages, we may see a positive movement in this market if the 50-day SMA clearly increases the 200-day SMA; A golden cross sign. As soon as the signal is confirmed, the DOGE market could resume a green trend momentum. Potential resistance levels for bidders are $ 0.0035 and above.

Will dogecoin increase in value? Let’s take a comprehensive look at Dogecoin potential and speculate dogecoin price in 2020 in our next dogecoin price prediction 2019 and dogecoin price prediction 2020. 

Alternatively, the token can decrease further to the critical support of $ 0.002. Below this support, the tendency to an increase is higher than a fall. As we said before, “Wait for the unexpected because anything could develop in the cryptocurrency space!”

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