Doge cryptocurrency
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Doge cryptocurrency

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Dogecoin is based on Luckycoin, which is a fork of Litecoin. Dogecoin’s name derives from the “doge” Internet meme which became popular in 2013. This meme features the image of a Shiba Inu, a japanese dog, with overlaid text that captures the dog's imaginary and humorous thoughts in broken English. Dogecoin currency On a medium-to-long-term basis, Dogecoin has been on a general upward trend, like many other cryptocurrencies. That said, 2021 has shown some cryptocurrencies to set more specified market paces of their own, including DOGE.

Cryptocurrency dogecoin

DOGE was trading down around $0.30 by the end of May 2021, defying the most bullish dogecoin prediction for the price to exceed $1. It fell further to $0.1607 on 20 July, when cryptocurrency markets found a bottom.  Top 3 Cryptos for Long-Term Growth – Solana, Chainlink and Everlodge "Trading dogecoin around Elon tweets has become a lucrative form of speculation," said Matthew Dibb, chief operating officer of Singapore-based crypto investment manager Stack Funds.

Dogecoin coin

Dogecoin Price

In a Clubhouse interview in February, Musk explained why he likes Dogecoin. "Arguably the most entertaining outcome, the most ironic outcome would be that Dogecoin becomes the currency of Earth of the future," he said. Is Dogecoin a Good Investment? At press time, the DOGE coin price is trading at $0.06410 with an intraday gain of 1.30%, showing neutrality on the charts. Moreover, the trading volume increased by 2.11% to $192.85 Million, and the market cap is $9.03 Billion. However, the pair of DOGE/BTC is at 0.00000025 BTC. Moreover, Analysts maintain a neutral rating, and technicals suggest a rebound in the upcoming sessions.

Cryptocurrency dogecoin

Additionally, there are also risks of Dogecoin price volatility that limit the token’s mainstream adoption. As with other cryptocurrencies, Dogecoin’s price is highly volatile and fluctuates significantly in short periods, leading to potential losses for gamblers and investors. Another popular crypto, Shiba Inu (SHIB), also affects the mainstream adoption of Dogecoin as the token is similar to Dogecoin based on the same aesthetic and codebase. How Litecoin Saved Dogecoin However, the volatile nature of cryptocurrency markets, particularly those driven by social sentiment like meme coins, means that fortunes can change quickly. While the short-term outlook for PEPE may be bleak, the possibility of a turnaround cannot be entirely discounted.