Many people viewed the start of Dogecoin as a soon ending tale, yet, today the coin has grown to a market cap of $237,083,239. Even the coin’s founders did not anticipate such a high rank and massive interest. However, the cryptocurrency has been struggling so far as it is currently trading at $0.002001. Dogecoin has been on a jerky ride till now, and due to its highly volatile nature, it seems this may continue for the long term.
Dogecoin is technically a fork of Litecoin and can be found on most exchanges and has quite a high circulation volume. This and many other indicators shows the coin as a good choice for amateur investors. Looking at the price of Dogecoin you will realize it quite low when contrasted with its competitors in the cryptocurrency market.
Furthermore, the coin seems to be forming back to previous lows as it is now trading close to its lowest value of $0.002 which is a price we have not seen since end 2017. A view at the technical indicators Dogecoin has the vast majority very worrying. The coin seems to be trading aside a bearish trace, which suggests more losses ahead for the cryptocurrency.
Dogecoin’s future doesn’t look too promising as expected by many enthusiasts, analysts, and the entire cryptocurrency community. In general, I personally foresee the cryptocurrency to keep the bearish trend for quite a long time and even possible to drop to a lower low in the timeframe with the possibility of losing a further 25% to reach $0.0015 by the end of mid-2019. We might see a rough ride for Dogecoin, but if it can battle bears with it few bright sides then likely, things may as well turn for the good.