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Dogecoin Analysis: Will Dogecoin’s recent falls pull it back to the bearish trend?

One can never deny the fact that Dogecoin after it’s a long bearish journey, fought back with enormous strength. In fact, it’s incredible price momentum made it capable of recovering many of its previous losses.

However, the coin was recently observed to be caught by the bears yet once again. The price drastically fell down as soon as the market opened yesterday.

As it’s already known that Dogecoin is largely influenced by Bitcoin, the market witnessed some downtrends in the Bitcoin price as well.

Well, the best part is that Bitcoin has now been able to deal in positive numbers. Therefore, a large number of analysts firmly anticipate that Dogecoin will soon come up with some bulls today.

If the anticipation goes as expected, the coin will soon return positive results and the market might go all green.

THE CURRENT PRICE STATISTICS OF DOGE

Before evaluating the depth of the coin, let’s look at where it is now.

Given the crypto’s present stats, the coin now has a 352.50% ROI and is currently trading at $0.002543.

With regard to the 24-hour quantity, around $26,864,432 can be discovered somewhere.

In terms of the company’s market cap, it was approximately $306,140,237, while the circulating supply was found to be 121,078,688,230 DOGE.

THE UPS AND DOWNS IN PRICE

Well, although the coin’s recent momentum seemed to be really strong, the coin ultimately got caught into the trap of bears once again. However, most analysts anticipate that there is a strong likelihood that the coin will soon be able to recover the losses.

The coin was launched yesterday at $0.0026. The coin instantly fell by 5.88 percent from $0.0026 to $0.0025.

Later, from $0.0026 to $0.0024, there was another fall. Regression this moment was 8.75 percent.

The coin closed with a drop of 4.52 percent at $0.0025. The coin began with a mild motion today. The coin jumped 5.74 percent from $0.00242 to $0.00256.

Currently, the coin sells at $0.00254.

PREDICT DOGECOIN’S MOVEMENT

The market reflects a drop on the graph of today. Due to the same, Dogecoin (DOGE) also felt a pullback.

There are elevated expectations that during the second half of the day the coin would rise for. In the long-term investment, the traders can also expect a positive result from the coin.

The escalation could bring a cost-profit of 4 percent to 5 percent in the coming years.

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About Zaryab Afser

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A stock market trader, a blogger , a cryptocurrency enthusiast ... Awareness of proper trend and Action at the correct time are the 2 most imperative tools to succeed in the crypto world. He will undoubtedly provide you with the first tool. Moreover he ensures that his readers never miss any data or news of the crypto world that might end up shifting your trade to the zenith of its glory. Cheers.

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