There has always been a strong focus on in the cryptocurrency community. Even though the altcoin can be overlooked by a lot of people, DOGE has maintained a solid position in the cryptocurrency market cap top 50 for several years now. These past few weeks, it has been one of, if not the most stable cryptocurrency on the market.
These past 24 hours have resulted in a small 1.4% increase in the Dogecoin price. It is not a spectacular gain by any means, yet it shows this altcoin will not necessarily start losing value any time soon. Instead, it appears the current value of $0.0056 will be sustained with ease, and a new push to $0.006 might materialize sooner rather than later. At the same time, its overall trading volume is abysmally low, which might not necessarily bode well for the immediate future of DOGE.
Not too much hype is being generated on social media for Dogecoin. That is a bit uncommon, as it seems people are always talking about DOGE in the world of cryptocurrency. Today is a bit different in this regard, although things might turn around in the near future. Even without a social media buzz, DOGE will usually do its own thing regardless of how all other cryptocurrencies are evolving at the same time.
Traders and speculators expect the DOGE price to go to the moon in the foreseeable future. Roosgar a massive altcoin bull run in mid-July of 2018, and the prediction still holds up several months later. According to the latest update, the higher lows have been reached compared to August 14th, which confirms this uptrend is still in full effect at this stage. How high the DOGE value will soar, is anybody's guess at this point.
A similar sentiment is echoed by ChristianReinhartSingarimbun . This particular Tradingview user is confident Dogecoin is on its way to high two key targets later this year and throughout early 2019. The first target is $0.00696, whereas the highest perceived value sits close to $0.00962. Neither of these targets is out of reach, albeit there is still some work to be done prior to turning $0.06 into a stable support level for the future.
As is always the case in the cryptocurrency world, gains and losses can materialize out of nowhere. This recent Dogecoin price trend is no different, although the currency has been rather successful in sustaining a stable value with little trading volume. If any gains can be tacked onto that trend in a somewhat limited nature, the long-term uptrend appears to be in place already.
JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.
10/08/2018 / 09:20:38 Source: themerkle