Dogecoin! Slowly, there is not enough room for growth
Updated
Hallo traders
The price of Dogecoin (DOGE) is struggling with increasingly serious losses. The current cryptocurrency quote has recovered to levels seen in September, and the token price has dropped another 9% over the past week. However, anyone who follows the behavior of memecoins knows that their situation can change dramatically
The year 2021 was special for Dogecoin. It was on May 8 this year. The cryptocurrency reached a record value of USD 0.7376, thus recording an increase of as much as 15 653% from the beginning of its existence. What's more, over the past year, social media has fallen into the admiration of Memcoin many times over, which spawned a number of other dog-themed coins. The increasing adoption and utility of the cryptocurrency as well as the level of its market capitalization were not without significance.
Even though Dogecoin's ratings have not been doing the best recently, it's important to remember that its usefulness is constantly growing. Market watchers and investors such as Mark Cuban have noted that in addition to investing in dogecoin, holders tend to use it to pay for goods and services. Cuban owns the Dallas Mavericks basketball team, which accepts dogecoin and several other cryptocurrencies as payment for tickets and merchandise.
The cinema chain AMC also began accepting DOGE as payment for digital gift cards and tickets, in preparation for accepting the rest of the cryptocurrencies.
Currently, the short-term dogecoin price forecast predicted by CoinCodex is definitely bearish. Only 6 indicators indicate potential signals for growth, while as many as 20 indicators remain bearish.
Long-term forecasts, however, suggest that it may be several years before the coin breaks its previous all-time all-time record of $ 0.74 to hit $ 1.
Regardless of the forecasts, however, it's important to remember that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin's price will be in a matter of hours, and even more difficult to make long-term estimates. Therefore, it should be borne in mind that analysts can be wrong in their forecasts.
I recommend that you always do your own research and take the latest market trends, news, technical and fundamental analysis and expert opinions into account before making any investment decision. You should never invest more than you can afford to lose.
greetings
The price of Dogecoin (DOGE) is struggling with increasingly serious losses. The current cryptocurrency quote has recovered to levels seen in September, and the token price has dropped another 9% over the past week. However, anyone who follows the behavior of memecoins knows that their situation can change dramatically
The year 2021 was special for Dogecoin. It was on May 8 this year. The cryptocurrency reached a record value of USD 0.7376, thus recording an increase of as much as 15 653% from the beginning of its existence. What's more, over the past year, social media has fallen into the admiration of Memcoin many times over, which spawned a number of other dog-themed coins. The increasing adoption and utility of the cryptocurrency as well as the level of its market capitalization were not without significance.
Even though Dogecoin's ratings have not been doing the best recently, it's important to remember that its usefulness is constantly growing. Market watchers and investors such as Mark Cuban have noted that in addition to investing in dogecoin, holders tend to use it to pay for goods and services. Cuban owns the Dallas Mavericks basketball team, which accepts dogecoin and several other cryptocurrencies as payment for tickets and merchandise.
The cinema chain AMC also began accepting DOGE as payment for digital gift cards and tickets, in preparation for accepting the rest of the cryptocurrencies.
Currently, the short-term dogecoin price forecast predicted by CoinCodex is definitely bearish. Only 6 indicators indicate potential signals for growth, while as many as 20 indicators remain bearish.
Long-term forecasts, however, suggest that it may be several years before the coin breaks its previous all-time all-time record of $ 0.74 to hit $ 1.
Regardless of the forecasts, however, it's important to remember that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin's price will be in a matter of hours, and even more difficult to make long-term estimates. Therefore, it should be borne in mind that analysts can be wrong in their forecasts.
I recommend that you always do your own research and take the latest market trends, news, technical and fundamental analysis and expert opinions into account before making any investment decision. You should never invest more than you can afford to lose.
greetings
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