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Dogecoin Price Analysis: Finally Showing Some Better Momentum?

Dogecoin’s struggles to make itself reach the safer zone is no more a mystery. The coin has been trying really hard to get it towards the bulls but in vain.

However, a slight increase in the momentum of the price was clearly noticed yesterday. The majority of the analysts believe that it’s perhaps the beginning of the recovery mode of the coin. Although the coins started with a bearish zone, now they are indicating some really notable improvements.

A BRIEF LOOK INTO THE CRYPTO’S PRICE

Speaking about Thursday, the coin started the day at the $0.002520 level. The beginning was undoubtedly a bearish one as the coin directly dropped by 7.44%, thus dropping its price from $0.002520 and went till $0.002332 directly.

However, the closing of the day wasn’t as bad as the coin was able to shut down at $0.00246.

As far as the intraday regression is concerned, its somewhere around 2.36%.

As of yesterday, the coin, as usual, started with a fall. However, it ended up with a piece of good news as by the end of the day the coin was clearly indicating an upward movement.

SO WHERE IS IT NOW?

Speaking about the present statistics of the coin, the current trading price of the coin is 0.002445 USD.

The strong momentum might lift the rank of the coin soon but as of now, the coin lies at the 29th rank in the market.

The ROI of the coin witnessed some massive upward shift as it went directly from 330% to 337.49%.

As far as the market cap of the crypto is concerned, its somewhere around 295,783,880 USD whereas the 24-hour volume is at the level of 27,759,923 USD.

Considering the circulating supply of the crypto, it was found to be 120,995,511,967 DOGE.

WHAT ABOUT THE FUTURE?

It can undoubtedly be understood that Dogecoin has been in one of its ugliest phases as the coin faced some terrible bearish trends.

However, considering this momentum of the coin at present, the coin seems to have already broken the downtrend. In fact, it’s now largely believed that the coin is now paving its way to the zenith of its glory. Analysts now assume that the hardships of Dogecoin will soon end with a better recovery digit on the price.

As far as the investment plans are concerned, intraday is not something one should go for at this point.

Therefore, choosing the long term investment in Dogecoin might end up becoming a good investment plan.

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About Zaryab Afser

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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