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Dogecoinanalysis

🐕Review of the Dogecoin(DOGE) Project🐕Hello! Today, let's review one of the ✴️cryptocurrency projects ✴️ which is the talk of the town these days, Dogecoin . Today's project name is ⚛️ Dogecoin , shown as DOGE token⚛️. As I have said before, I evaluate crypto projects based on various factors .👇 I have already introduced each of these factors with a brief explanation, so today, I will be looking at DOGE . 🔥Let’s get into it: 🔰🔰🔰🔰🔰🔰 ✅ Project Goals : Dogecoin was created in 2013 as a joke. Dogecoin's goals are centered around creating a fun😁, friendly, and inclusive cryptocurrency that anyone can easily use and access. Dogecoin is the start of what is known today as “meme coins”. One of the main aims of Dogecoin is to be a fast and low-cost alternative to other cryptocurrencies like Bitcoin, making it ideal for everyday transactions and small purchases. But the aim to be an alternative to Bitcoin was made as a joke to stop the Bitcoin maximalists from spreading toxicity in the Bitcoin community💬. This is why I have rated Dogecoin’s project goals 4/10. ✅ Founders : Dogecoin was created in 2013 by two software engineers, Billy Markus and Jackson Palmer. Markus, who had previously worked for IBM, developed the technical aspects of the cryptocurrency, while Palmer, a product manager at Adobe, came up with the idea to base it on the popular "Doge" meme featuring a Shiba Inu dog🐕. Initially created as a joke or a "fun" cryptocurrency, Dogecoin gained popularity among internet communities, especially on Reddit, and became known for its friendly and inclusive culture. Markus and Palmer both stepped away from the project in 2015, with Markus citing personal reasons and Palmer expressing concerns about the cryptocurrency industry's direction. Since then, Dogecoin has been maintained and developed by a decentralized community of supporters and developers with no official leadership or centralized authority. Therefore I have scored Dogecoin’s founders 7/10. ✅ GitHub : Dogecoin's GitHub is an open-source repository where the source code for the Dogecoin cryptocurrency is stored, managed, and updated. It is a central hub for developers and contributors to collaborate on the project and make changes to the codebase. The GitHub repository also includes various resources and documentation for developers and users, such as technical guides, FAQs, and release notes. Dogecoin's open-source nature allows for transparency and community involvement in developing and maintaining the cryptocurrency. The Dogecoin GitHub repository has more than 270 contributors with over 14,000 commits. That is why I have scored Dogecoin’s GitHub 8/10. ✅ Inflation Rate : Dogecoin has a unique inflationary monetary policy that sets it apart from other cryptocurrencies like Bitcoin. Unlike Bitcoin, which has a fixed supply of 21 million coins, Dogecoin has an unlimited supply, with 5 billion new coins added to circulation each year. The inflation rate of Dogecoin is fixed at 5.26% per year, meaning that the total supply of Dogecoin will increase by approximately 5.26% each year. This inflation rate is designed to ensure that there will always be new coins available to incentivize miners to continue verifying transactions and securing the network. I have scored Dogecoin’s inflation rate 6/10. ✅ Community : Dogecoin's community is known for its fun, friendly, and inclusive culture, which has played a significant role in the cryptocurrency's success and popularity. The community is made up of a diverse group of supporters, including investors, developers, traders, and enthusiasts, who are passionate about the currency and its mission. The Dogecoin community is highly active on social media platforms, especially Twitter and Reddit, where they often share memes, jokes, and updates about the cryptocurrency. One of the unique features of the Dogecoin community is its strong sense of humor and lightheartedness. The currency's logo features the Shiba Inu dog, which has become a popular meme on the internet, and the community often celebrates milestones with humorous memes and jokes. Also, Elon Musk is an active member of the Dogecoin community with a significant impact on the project. Since Elon Musk is an extremely influential figure, he has managed to impact Dogecoin’s price through tweets, accepting CRYPTOCAP:DOGE for the sale of certain Tesla products, and even most recently that he changed Twitter’s logo to Dogecoin’s logo for a week. Due to this, I have scored Dogecoin’s community 9/10. ✅ Whitepaper : Dogecoin does not have a formal whitepaper in the traditional sense, as it was created as a fork of Litecoin and was initially intended to be a joke or a "fun" cryptocurrency. However, the original codebase for Dogecoin is publicly available on its GitHub repository, and it provides a technical overview of the currency's features and functionality. Since the project does not have a whitepaper, I have scored it 1/10. ✅ Developers : Dogecoin's development team is largely comprised of volunteers and community members who contribute to the project on a part-time basis. The original codebase for Dogecoin was created by programmers Billy Markus and Jackson Palmer, who have since left the project. Since then, the Dogecoin development team has expanded to include several core contributors and maintainers who oversee the ongoing development and maintenance of the currency. Some of the current core contributors include Ross Nicoll, Patrick Lodder, and Max Keller, among others. The development team works closely with the broader Dogecoin community to solicit feedback, implement new features, and address any issues or bugs that arise. The team is known for its collaborative and transparent approach to development, with regular updates and discussions on social media and other online platforms. Therefore I have scored Dogecoin’s developers 7/10. ✅ Tokenomics : Dogecoin is inflationary which means it does not have a maximum total supply. Dogecoin’s tokenomics include a few key features mentioned below: Inflationary supply : Dogecoin has an inflationary monetary policy, with 5 billion new coins added to circulation each year. Fixed block rewards : Dogecoin miners receive a fixed block reward of 10,000 DOGE per block. This reward is designed to incentivize miners to continue verifying transactions and securing the network. Fast block times : Dogecoin has a fast block time of just one minute, which helps to facilitate quick transactions. But an important factor to keep in mind is that 50% of Dogecoin’s current circulating supply is held just by the top 20 wallet addresses. This makes Dogecoin extremely centralized in terms of ownership. Therefore I have scored Dogecoin’s tokenomics 4/10. ✅ Venture Capital Investors : Dogecoin is a decentralized cryptocurrency and does not have any official VC investors. As a community-driven project, Dogecoin was initially created as a fun and lighthearted fork of Litecoin and has since gained popularity and support from a diverse group of enthusiasts, investors, and traders. While Dogecoin does not have any VC investors, it has received attention from various high-profile individuals, including Elon Musk, who has been known to tweet about the cryptocurrency and show support for its community. Due to this, I have scored Dogecoin’s VC investors 5/10, even though it does not have any official investors. ✅ Competitor Comparison : Dogecoin is often compared to other meme-inspired cryptocurrencies, which have gained popularity in recent years. Here are some points of comparison between Dogecoin and some of its notable meme coin competitors: Shiba Inu (SHIB) : Shiba Inu is a meme-inspired cryptocurrency that was created in 2020. Like Dogecoin, it features a cute dog as its mascot, and it has a community-driven culture. However, Shiba Inu has a larger total supply and has faced criticism for its lack of transparency and governance. SafeMoon (SAFEMOON) : SafeMoon is a cryptocurrency that was created in 2021 and has gained a significant following in a short amount of time. It features a unique tokenomics structure that incentivizes holders to keep their coins in their wallets, which is very ponzi-like. Therefore SafeMoon has faced criticism for its lack of transparency and the potential risks associated with its tokenomics structure. Akita Inu (AKITA) : Akita Inu is a meme-inspired cryptocurrency that was created in 2021. It features a dog as its mascot, and it has gained some popularity among crypto investors. However, Akita Inu has a smaller community and less widespread adoption compared to Dogecoin. Therefore I have scored Dogecoin 9/10 compared to its competitors. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 🔔 In conclusion , Dogecoin obtained a total score of 6/10 which is average. But the important point is that Dogecoin is a meme coin after all, which means it will only have value as long as the community stays active and works for the project’s growth. The thing is, there is a high chance of people getting tired of one meme coin and moving on to a newer, more trending one. So if you are thinking of buying some DOGE, it’s best not to put in more money than you are completely comfortable with losing. Many great teams in the crypto space are working on the latest technology in order to build platforms, applications, and protocols that will increase crypto adoption and create a better experience for crypto users. Therefore, in my opinion, it’s best to invest your money in those types of projects instead of meme coins.
by pejman_zwin
4
The impact of changing the Twitter logo to Dogecoin 🕊➡️🐕Twitter changed its iconic blue bird logo on Monday to mimic the logo of a Dogecoin(DOGE).🕊➡️🐕 Now let's see how much this change in the chart can affect❗️❓ If we want to look for classic patterns in the chart, yesterday, Dogecoin was able to break the upper line of the Falling Wedge with the green candle that was the result of the logo change. But the wedge pattern is not a standard falling wedge pattern, and at the same time, a 🔴resistance zone($0.1134-$0.1020)🔴 in the daily time frame is located exactly above it. This does not mean that it has no effect and is even expected to break the resistance zone upwards. Now, if we look at the chart from the theory of Elliott waves, it seems that Dogecoin is completing the X wave with the Expanding Flat(3-3-5) corrective structure, which is one of the most common corrective structures. Microwave C of main wave X can finish at the 🔴resistance zone($0.1134-$0.1020)🔴 or even slightly above it(maybe bull trap), which I have marked for you in the chart. ❗️ Note ❗️: If Dogecoin can break the resistance zone with a large green candle with high volume, it is expected that Dogecoin will grow up to the 🔴heavy resistance zone($0.178-$0.1580)🔴 (about 40%), which, of course, does not affect the wave count. Dogecoin Analyze ( DOGEUSDT ), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
10
DOGE/USDTSPOT BUY PLAY : DOGE/USDT BUY one part @ CMP (current market price) & add on every 5-8% dip total in 3 parts. 1st - CMP (current market price) (now) 2nd - 5-8% dip of cmp 3rd - 5-8% dip of 2nd buying price STOP LOSS = 20% below of your average buying price. TAKE PROFITS ARE mentioned in the chart itself DYOR. Always DO YOUR OWN RESEARCH before taking any trade or before investing your hard earned money. Suggestion/Tip – It is always better to take profit, whether all the zones are bought or not. Suggestion/Tip 2 - When price is moving on right way "it is always recommended to move stop-loss to profit side". If you like the idea and benefited from it please like , share & comment to keep us motivated.
Long
by EsCApetHEmAtRiCS
DOGEIt's time! Only 19 days until 4/20! Historically, 4/20, and the month of April more generally, is a magic month for Dogecoin. I wonder what's in store for this year... In terms of the technicals, Dogecoin has its range from .75 highs to .05 lows that has a mid of .40, which implies that if it can achieve a 50% retracement with respect to its all time highs and cyclical lows (USD) then it will be surprise surprise in the neighborhood of .420! If it pulls off 5x from here to 4/20 you can thank me later :) The thesis is simple: so long as above its .05 lows I believe it's sending towards .420... And remember, .05/.06 is where all the magic started in April 2021... Also, Doge/BTC seemingly inflecting from cyclical lows. More Doge/BTC analysis on Doge/BTC chart...
POLONIEX:DOGEUSDLong
by jhonnybrah
DOGECOIN | 1$ is Programmed..!! #DOGE (Analysis) Dogecoin has been Consolidating in Descending Channel Since May 2021 (TOP) Seems like Correction phase is Completed & Getting Very Close to Massive BREAKOUT, It's time to FLY. But Bulls need to Break the Descending Trendline Resistance to Confirm the Breakout. As Resistance getting Weaker & Volume has been Coming in, Expecting Breakout soon. In Case of Breakout, Expecting Massive Bullish Rally like 2021. Dogecoin Will hit 1$, It's only a Matter of time ⏰ Grab Some with Low Risk & Hold with Patience, Holders will be Rewarded. What is Dogecoin? Dogecoin is a decentralized cryptocurrency created in 2013 based on a popular internet meme. It has a fun and lighthearted approach to the digital asset space and has been used for charitable causes. Despite its humble origins, Dogecoin has grown in value and remains popular among investors and enthusiasts. Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
Long
by Faibik
13
DOGECOIN Doge price is approaching "a prudent buying zone"The DOGEUSDT price is in a wide buying zone of $0.057-0.073. If you believe in the Dogecoin project, or at least believe that Musk will be able to pump up the price of DOGEUSD again, then this is the right buying zone for you) It is wise to place buy orders by "a grid" in this zone to end up with a "tasty" average price of DOGE in a medium or long-term investment portfolio. If and when the long-awaited alt-season begins on the crypto market, the medium-term target of $0.16 and the long-term target of $0.33 for the DOGE price look more than realistic. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
37
Dogecoin Consolidates With Rising Volumes, DOGE Adds 26%Past Performance of Dogecoin Dogecoin remains under pressure. Even though it is up roughly 10% in the last trading week, it remains within a bear formation with caps at $0.078. The good news is that DOGE prices are above the middle BB and steady above $0.070. Still, for the uptrend to take shape, there must be a conclusive high volume close above $0.078 in the days ahead. Dogecoin Technical Analysis DOGE is up 26% from March lows, but prices are moving horizontally with limits at $0.078 and $0.070, respectively. The coin remains within a bear formation unless bulls break above $0.078 with expanding volumes. The only positive in the current formation is that the leg up is with expanding volumes, increasing the probability of a bullish breakout. In that case, the bear breakout of March 3 will be invalid, allowing traders to ride the emerging trend targeting $0.090. Any dump below $0.070 with such rapidity will likely cancel this bullish preview. What to Expect From DOGE? DOGE remains in a consolidation though volumes are relatively higher. Though prices are also higher, the failure of bulls to push above $0.078 could suggest weakness. Still, it is until there is a clear trend definition above or below the current consolidation that traders can open positions, riding the trend. Resistance level to watch out for: $0.078 Support level to watch out for: $0.070 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer