Dogecoin (DOGE) Price Analysis and Prediction

Just like other cryptocurrencies, DOGE has experienced rough moments throughout 2018. The currency has been largely described as unpredictable by many crypto experts. It has been swinging up and down since it went mainstream and emerged a common choice among traders.

DOGE Price History

Initially, DOGE was valued at $0.0002. The figure did not experience any significant shift till the crypto bulls of 2017 when the coin skyrocketed from $0.0003 to $0.0008. In the first quarter of 2018, the coin reached its all-time high of $0.017. What had begun a few years ago as a joke, a dog meme, had now emerged a modern payment gateway worth more than $1 billion.

Recent Analysis and Prediction

DOGE has signalled a huge potential and some bearish trends in the past few months. Towards the end of August, the cryptocurrency started rising from $0.002 to $0.006 by September 06. A price correction left the coin valued at $0.005 for a few days. By mid-September, DOGE had again climbed to $0.006, where it encountered its resistance line.

The bulls were adamant, and the coin was trading at $0.005 till the first week of October. On October 11, bears saw this digital currency shortly decline below $0.005, though the bulls swiftly recovered. Nevertheless, the second week of October has been rough, and the coin has been losing track.

Since October 16, DOGE has declined from $0.005 to almost $0.004381. In the last two days alone, DOGE has declined by 4%. Many crypto experts are anticipating the bulls to recuperate prices and stress that the latest declines are due to a general crypto market dip. But, many crypto traders and investors are skeptical and are beginning to think that the dips of the past few weeks are due to a pump.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
John Makori is a cryptocurrency writer with background in IT and journalism. He has lived in different countries, and settled in Canada. He has more than 4 years of experience working as a journalist with interest in Bitcoin and Cryptocurrencies. He’s passionate about learning Blockchain technologies’ potential to reshape all aspects of our lives. He joined TheOofy as a writer.