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Dogecoin Price Analysis: Elon Musk’s Joke Resulted in Recent Price Surge

The famous cryptocurrency based on popular Internet Meme, No one expected to become the Favorite asset of the crypto land, Dogecoin is purely a community coin, with huge supports across the group, which gives it a solid base despite being a Joke Coin. Dogecoin (DOGE) is one of the leading crypto-currencies of the modern era, as it deals with transactions based on specific content on social media online. It was created after its release from Litecoin in 2013. The main features of this cryptocurrency include the complete anonymity of users and fast transactions. This has created an alternative payment and settlement ecosystem for social media content creators and specific Twitter and Reddit customers.

WHO’s THE CEO?

On the April Fool’s day, Dogecoin took his twitter and Posted a Poll asking the community who should be the next CEO of Dogecoin. The competition was between the four most influential people in the world namely Vitalik Buterin, Charlie Lee, Elon Musk and Marshall Hayner. People voted higher for Elon Musk, CEO of the big automaker Tesla. In response to this poll, Elon Musk tweeted lightly that Dogecoin (DOGE) is the best-encrypted piece on the market. Soon, the statement traveled like a fire finally pushing the price of the coin to a very high level. The nearly 100% growth in value has left many experts and cryptography enthusiasts in shock. The overall crypto market swelled after April 1, but the growth of almost 100% was not in line with market growth.

Current statistics

• Dogecoin (DOGE) is the 26th largest piece of cryptography on the global cryptography market.

• The return on investment on DOGE is 407.91%.

• Total coins in Circulation is 119,127,654,673,673 DOGE.

• The current market capitalization on April 18 at 4:19 UTC is $ 348,161,230.

• The value of each US Dollar and BTC coin is 0.002939 USD and 0.00000056 BTC.

• The 24-hour volume at the same UTC time is 32 322 103 USD.

Dogecoin (CURRENCY: DOGE) traded 3.9% up against the U.S. dollar during the 24-hour period ending at 3:00 AM ET on April 19. Dogecoin has a market cap of $348 million and approximately $17 million worth of Dogecoin was traded on exchanges in the last 24 hours. In the last week, Dogecoin has traded up 4.2% against the U.S. dollar. One Dogecoin coin can currently be bought for $0.00291322 or 0.00000056 BTC on major exchanges including Exmo, Novaexchange, Livecoin, and BtcTrade.im.

DOGE is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. Its launch date was December 6th, 2013. Dogecoin’s total supply is 119,002,829,070 coins. 

Dogecoin Wallets-

Here are the 2 best Dogecoin wallets in the crypto market –

Trezor-

Trezor is one of the most trusted and effective hardware portfolios for Dogecoin (DOGE). With Dogecoin, there are nearly 700 other major cryptocurrencies in its list. The SatoshiLabs of the Czech Republic supports him. It focuses on privacy and security. The private keys of the cryptographic pieces are kept in the device on which the application is installed. It is therefore difficult to be hacked.

Dogecoin Paper Wallet-

This wallet is known as the crypto wallet of the old school. The private keys of the stored coins are printed on a piece of paper. This makes the application safer because it is not connected to the Web. It is the responsibility of the user to keep private keys in a secure place for his investment to be secure.

Dogecoin Price Prediction 2019-

Dogecoin (DOGE) is now trading at around $ 0.002. However, the price of the coin is likely to rise again. but, this growth will be gradual. The next resistance may be faced at 0.003 USD. The short-term outlook is bearish as the effect of the April 1 episode is not completely exhausted. However, the medium and long-term prospects are optimistic. The end of this quarter can see the value somewhere around $ 0.01.

According to our forecasts, the coin should be there at 0.055 USD at the end of this year. This is a very bullish sign for long-term holders. In addition, the price forecast for 2020 goes hand in hand with a huge increase of 5855% in price. The value could reach up to $ 0.225 by the end of 2020.

Dogecoin Coin Trading (Selling and Buying)

Dogecoin can be traded on the following cryptocurrency exchanges: Exrates, CoinEx, Stocks. Exchange, SouthXchange, LiteBit.eu, Sistemkoin, YoBit, CoinExchange, CoinFalcon, Graviex, Bitbns, Ovis, Kraken, Coindeal, CoinEgg, Exmo, Livecoin, BiteBTC, Novaexchange, Mercatox, C-Patex, BitFlip, Bleutrade, HitBTC, Cryptomate, BtcTrade.im, C-CEX, ZB.COM, Poloniex, Gate.io, Koineks, Cryptohub, Cryptopia, Bittylicious, BX Thailand, Upbit, FreiExchange, Fatbtc, Tidex, Instant Bitex, Indodax, OpenLedger DEX, Tux Exchange, BCEX, Bitsane, Bits Blockchain, Bittrex, Trade Satoshi, cfinex, Crex24, Coinsquare, BTC Trade UA, Coinbe, Bit-Z, Tripe Dice Exchange and QBTC.

It is usually not presently possible to purchase alternative cryptocurrencies such as Dogecoin directly using U.S. dollars. Investors seeking to acquire Dogecoin should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Dogecoin using one of the aforementioned exchanges.

About Steve Anderrson

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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

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