Dogecoin news update – Dogecoin news update is typically inspiring. Who wouldn’t want to learn about the cryptocurrency that started as a joke and now has a chuck of the market capitalization. Dogecoin, which is also referred to as the meme coin, has become one of the most popular cryptocurrencies in the space. The progress of Dogecoin, the rise in its value, the increase in its market share and the fact that it has many celebrities backing it is encouraging. This is especially so because there have been no major developments on the Dogecoin blockchain since inception and there are limited use cases as well. How long will the Dogecoin hype last? There are rumors that Dogecoin is going to crash soon.
Dogecoin Price Prediction 2019: Dogecoin News Today – Dogecoin News Update – Elon Musk Dogecoin Forecast – Dogecoin Price May Fall Lower
The brains behind Dogecoin, Billy Markus, has said that the Dogecoin community has no intention of competing with Bitcoin and other major cryptocurrencies in the space. The goal is to keep building the community and the network. According to him, they prefer Dogecoin because it doesn’t require the kind of industrial strength processor that Bitcoins and other major coins require. He said that he initially had interest in Bitcoin but his wife was able to convince him to shift his focus to Dogecoin.
While Dogecoin has made a lot of progress over the years, the price is still underperforming. This is a good and a bad thing. In April, the Elon Musk Dogecoin joke propelled an 80% surge in the price of DOGE within 4 days. This was followed by a dump in the price of Dogecoin from which it is yet to recover. Recently, Dogecoin started trending above the baseline. This shows that the cryptocurrency is good for a short-term investment. While you’ll most likely make gains if you take short positions, the Dogecoin price prediction 2019 on CryptoNewz suggests that the chances of Dogecoin reaching $1 are slim. In fact, the analyst has predicted that Dogecoin price will most likely fall lower against the USD before the end of the year.
Dogecoin Price Prediction 2019 – Dogecoin News Update – Dogecoin News Today – DOGE/USD – Current Price Of Dogecoin
Since the beginning of the year, the price of Dogecoin has increased by 29.18% against the USD. This figure isn’t encouraging especially when you consider the fact that some altcoins are up by up to 400% since the beginning of the year. So, a 29% increase in price is nothing special. In fact, it is cause for alarm. If Dogecoin doesn’t gain bullish momentum fast and start rising in line with the rest of the altcoin market, there is a high chance that the price of the token will face a significant downtrend that would drag it as low is $0.005 before the end of the year.
At the time of writing, the price of Dogecoin was $0.003122. This means that it is down by 5.09% against the USD and up by 0.92% against the price of BTC. The trading volume over a 24 hour period is $81,567,529 and the market capitalization is $374,014,696. The entire cryptocurrency market is currently suffering the downtrend.
What do you think about the Dogecoin price prediction 2019 in our Dogecoin news update today? Will Dogecoin recover? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
