Why Dogecoin is Dropping Rapidly

The issue of Dogecoin and its depreciation in value or dropping have been a real case to investors because it really isn't trying to go high in anyway. This post is designed to enlighten us small on the future and Hope of Dogecoin.

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The Screenshot above is from a Coindesk site and this has shown the movement of Dogecoin from the last 52 weeks down till today, it is really not a favorable or positive result. Dogecoin is really on the low and continues going low.

To know the future of Dogecoin, let's interpret this picture.

Within the last 52 weeks, Dogecoin have risen to $0.740010 and its highest price since existence is $0.740796, showing that it has not gotten to $1 since it joined the crypto market. currently it is at approximately $0.15. This is too bad so to say.
Is it going Higher? Lets find out.

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Coinmarketcap shows that the total number of Dogecoin in supply is far much higher than many stable coins in the Cryptocurrency market and that has led to decrease in its marketcap. Remember, excess supply affects price action. Also, unlike Bitcoin, Dogecoin has no fixed supply meaning that many Dogecoins are being released into the market and this still reduces the market price or Marketcap. Dogecoin really have swallowed the money of many investors giving them no hope of returns, at least not anytime soon.

Special regards to @seo-boss, all members of this community and other wise investors viewing this post.
I'll be back with other posts, for now, I'll be leaving to react and participate on other peoples posts.