Lately, I have been taking a closer look into Dogecoin, a cryptocurrency that started as a joke but managed to gather a huge fan base.
Despite Dogecoin’s vibrant community its price has been suffering a steep decline in the last few months, but will it keep going down or is it the perfect opportunity to join the Shiba Rocket?
There are four reasons to think that we could be close to the bottom:
1.- At 27 satoshis Dogecoin is near its all time low.
2.- There is very strong support around 25-26 satoshis.
3.- Volume is also very low which could mean two things: a) Sellers don't want to sell at this prices or b) There aren't many sellers left.
4.- Dogecoin memes are still rocking the internet!
Ha! Trading expert? No, not me.
One thing to consider though...
This doesn't mean that the price can't or won't go lower. If it's still falling, then let it fall. If you're buying for long-term, you can get it on the way back up after a reversal. There's really no need to jump in early.
I don't track Dogecoin, so I really can't give much advice about that cryptocoin, specifically.
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This project : http://dogemagnit.for-biz.com/?f=10246 has reduced interest accruals coins. Maybe this is the reason?
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Dogecoin is fun, but it's explicitly designed to have a low value. There are 107 billion DOGE now... As you can see in the graphs, it tends to go down unless there's a short pump.
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Doge does experience regular pumps - also most of the doge has already been issued, so not much inflation to come. So perhaps worth a flutter.
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seems cheap now, ive rebought some already but just for fun not that i day trade this currency
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It would be really amazing if this were to skyrocket. I joined in when it first began to get a lot of hype, so I have a wallet with a pretty decent amount on it. However, I don't really want to calculate what these are worth now, because it is for sure a whole lot less than my original investment :P
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