This week, Whitebit exchange users voted for us to do a review and technical analysis of Dogecoin
So today our global view of the DOGE cryptocurrency
The active DOGE price growth from March 2020 till May 2021 with more than 60,000% growth is most often explained by Elon Musk’s tweets, which contributed to the coin’s pamping. But if you look at the global chart of the price behavior, you can see other patterns that are peculiar to Doge, about this below
And here already more than a year the price of DOGE decreases and at first sight there is no end and border to this decrease, and the decrease itself has made -90 % from the maximum price of $0.74.
DOGE cryptocurrency has reached a strong liquidity zone of $0.06-0.085
But we will try to bring some positive and hope for Dogecoin investors
If we look at the global DOGE cryptocurrency chart, we can see that the price has finally reached the liquid zone of $0.06-0.085, below which it should not fall.
We can also assume that a “Cup and handle” pattern will start to form on the chart. In this case, the price of DogeUsd can start a smooth, but confident growth during the next calendar year.
The first targets for take profit of long are the liquid zones of $0.10-0.11 and $0.17-0.185. This forecast will become more confident when the price of Doge gets above $0.085.
All in all, Dogecoin is an asset for investors with a very great patience and who can wait for years for the pamp!
And to demonstrate it to you, we offer you to watch DOGEBTC chart
History of DOGE cryptocurrency
Dogecoin’s trading history stretches back to 2014, and the first push took place 3 years later in 2017. Eh… That was a nice alt-season back then) And another one in 4 years which most of you probably already caught
As a result of first Pump, Dogecoin capitalization in the end of 2017 at the beginning of 2018 reached 2 billion dollars. It was the capitalization of top 5 at that time, and maybe even top 3 I don’t remember now. But I remember very well, at that time there was an article of Dogecoin creators, who said, that they created DOGE as a gimmick project, and now capitalization $2b., for that exactly, they don’t understand) Now DOGE capitalization is $10b and top 10 by capitalization.
On the plus side of Dogecoin 2017-2018 is that it was very actively used by crypto users, as an asset for fast transactions.
Doge transactions was coming in 5-10 min and was getting very small commission, just to compare: in 2017 BTC, LTC, and USDT were actively used, the transaction was 5-30$ not depending on amount, and the worst thing is that it could last 1-7 days, was lost, and I had to write to support of exchanges, where my money was lost.
Not like now, before you blink your eyes, cryptotransaction is already in another corner of the world for a ridiculous commission. So crypto-enthusiasts appreciate the times we live in, and then patience and everything will be fine, because it can’t be otherwise 😉
