DOGEcoin is this a buttom? (analysis)

[BullRunBit 2773]

In this topic I will talking about well known cryptocurrency called DOGEcoin.

We all know that DOGE have really good movemants, price drop very low and pump very high and traders make really good profit with this cryptocurrency/altcoin.

But now we will talking about currently situation of DOGEcoin and is this really buttom of DOGEcoin price.

 

Chart (6M)

(Yobit exchange)

Like you can see on chart of 6 months, price was "stable" around 25sat and 30sat and "one day" price pump around X2.

And after that you can see that price slowly go down, and currently price of 18sat/17sat is very low.

Why is very low, if we compare with DOGE ATL (all time low) price which is 15sat currently price of DOGE is only +12% higher from ATL price.

And if we talking about DOGE ATH (all time high) price it was around 280sat which is a lot higher than currently price (18sat/17sat).

 

Now to talking little bit about DOGE chart/price history.

As you can see on whole chart of DOGEcoin, you can see that a lot of times DOGE price drop a lot but after that price recovered and pump.

I will write last example (before this from 27sat till 57sat) when price of DOGE drop and pump after that.

It was before 3 years (Nov.2017) when price of DOGE drop till 17sat and recovered and pump till 103sat in beginning of 2018.

And before that price of DOGE two times drop that much and of course recovered and pump.

 

Now to talking about DOGE "walls".

You probably noticed that DOGEcoin always have/had strong "walls" (orders) and because of that price of DOGE mostly is stable except when some big movemant start.

And if we check currently buy "walls" on DOGE we can see that from 30 till 36sat we have around 188 BTC (Yobit) value of orders ("walls").

And sell "walls" are very weak, from 17sat till 1sat we have only around 2.3 BTC (Yobit) value of orders.

In this situation we can see how dramatic situation DOGEcoin have currently.

 

Conclusion.

In all of this which I share my conclusion is that this is key point for DOGEcoin, because it's close to ATL (all time low) price but there are no "walls" to support some price if some sell off start. But in other hand if price go up there are "walls" which will make difficult that price pump.

DOGEcoin is one of first cryptocurrency for which I head (first was BTC) and like I already say it's key point what will be with DOGEcoin.

Like we can see that price of BTC going up (close to 20k) and strong altcoin follow BTC but DOGE was always different and currently situation of DOGE is very worrying.

But I hope that DOGE will like always "go to the moon".

 

DOGE will be always DOGE. 

[Smallingcane012 344]

Sincerely speaking doge or absconded is very wrong in any place or situations you find your self important because it will reduce your value as a human being so shouldn't do that at all.

[BullRunBit 2773]

It's interesting to see that this topic did not attracted attention.

When I wrote this topic price of DOGE was 18sat/17sat and currently price of DOGE is 139sat/138sat which is a lot higher and topic was writen before around 2 months.

And after two months it was "buttom", price of DOGE drop till 15sat and like you can see one "pump" till 39sat and after that big "pump" which still lasts.

Big profit for DOGE holders. 🙂

[BullRunBit 2773]

15 hours ago, Muhammad Saleem said:

The experts are saying that Doge coin is the BTC of future. Therefore, crypto lovers are taking interest in doge. Nowadays, a bigger trading volume is being made by doge coin. But no bigger fluctuation in price is seen. I think it is because of some restrictions. After these restrictions will be uplifted, doges can show its potential.

🤔 How you can compare DOGE with BTC?

Do you know basic difference between DOGE and BTC?

When you say "restrictions" what you mean exactly?

Because this what you say dont have any sense.

[rekter 8129]

Best thing about doge is that it isn't pretending to be a good coin with good tech. It isn't being developed because it it what it is. It doesn't want to be anything else then a meme.

 

But doge is certainly a good indicator for altcoin season, because when people are buying for that, they will be buying others too. That has always been the case and holding it huring the altcoin season can be profitable, but i don't think that it will be any more profitable then holding something else with good fundamentals. And i wouldn't do any TA on that because the prive is responding to every joke tweet that elon musk is making (as we just saw).

 

Honestly i can support Doge for being a successful meme coin and owners of it not taking this thing too seriously, But as it doesn't offer any solution what haven't already been solved before it, so i can't see any reason for it other then for fun and easily approachable educational purposes.

 

19 hours ago, Muhammad Saleem said:

The experts are saying that Doge coin is the BTC of future. Therefore, crypto lovers are taking interest in doge. Nowadays, a bigger trading volume is being made by doge coin. But no bigger fluctuation in price is seen. I think it is because of some restrictions. After these restrictions will be uplifted, doges can show its potential.

Who ever was the expert that told you that was trolling you. There are no restrictions in doge. Even meme coins can make you money but it doesn't mean they will be a good store of value in the long run.

Edited February 5, 2021 by rekter

[BullRunBit 2773]

18 hours ago, rekter said:

Best thing about doge is that it isn't pretending to be a good coin with good tech. It isn't being developed because it it what it is. It doesn't want to be anything else then a meme.

But doge is certainly a good indicator for altcoin season, because when people are buying for that, they will be buying others too. That has always been the case and holding it huring the altcoin season can be profitable, but i don't think that it will be any more profitable then holding something else with good fundamentals. And i wouldn't do any TA on that because the prive is responding to every joke tweet that elon musk is making (as we just saw).

Honestly i can support Doge for being a successful meme coin and owners of it not taking this thing too seriously, But as it doesn't offer any solution what haven't already been solved before it, so i can't see any reason for it other then for fun and easily approachable educational purposes.

You get +1 for contructive post, but I have some questions.

What was reasons for previous DOGE pumps? Again someone just write about DOGE?

Yes one time before it was challenge but I'm talking before that.

Like you can read DOGE ATL (AllTimeLow) was 15sat which DOGE hit and after that DOGE pump like before.

[rekter 8129]

10 minutes ago, BullRunBit said:

What was reasons for previous DOGE pumps? Again someone just write about DOGE?

You can ask the same question on "why did the bullrun started for most altcoins?" It was time.

There's no reason for dogecoin price not to fluctuate with other altcoins. Most people don't understand why some altcoins have value or the tech behind it. They just invest because other do, it's fun or they like the chart.

 

What i was saying is, the code of dogecoin isn't a new solution to any problem. It just uses scrypt in their POW like litecoin. It doesn't scale any better, but it doesn't mean it couldn't make you rich. I just personally can't see any reason for dogecoin to exist other then the meme value. Meme value can be higher then anyone could have predicted though.

[Ayinlek 42]

On 04/02/2021 at 12:53 PM, BullRunBit said:

It's interesting to see that this topic did not attracted attention.

When I wrote this topic price of DOGE was 18sat/17sat and currently price of DOGE is 139sat/138sat which is a lot higher and topic was writen before around 2 months.

And after two months it was "buttom", price of DOGE drop till 15sat and like you can see one "pump" till 39sat and after that big "pump" which still lasts.

Big profit for DOGE holders. 🙂

Personally I think Doge coin is a really nice coin and worth investing in. I'm sure it really do have prospect and is going to be skyrocket anytime soon.

[Rozy 1918]

I guess Doge coin took more attention than it really deserves, it was first created as a mock example of crypto currency  then it went unbelievably popular and the price set on fire, I personally will not be intrigued to invest or trade with it. I see its price constantly changing for no obvious reasons , and I usually prefer coins with good potentials.

[afez420 20]

Doge coin is a very interesting and hype investment. I do not usually follow hype coins like this but keeping an eye out for plays like this can turn out well in the long term.

[BullRunBit 2773]

10 hours ago, Waqasbutt said:

I was just studying about dogecoins and i learn that it goes to 0.017$ in 2018 after its creation in 2013 and some analysts were saying that there is a possibility that it is going to touch the price of 1$ in 2021. And the only thing we can do is to hope for its betterment in the future as it is also older currency like btc. 

And why did not hit 1$ till 2021?

If DOGE hit 0.10$ that is big and to not talking about 1$...

And it's big difference between USD and BTC market, try to research both market. 😉

[Syriana 350]

It is good that this coin is high for its users and investors, and I think most of those who use it are making more profits and achieving good goals. I think they are celebrating now, so I advise everyone to follow all cryptocurrencies and not neglect them so that we can earn more profits and money