Probably the Most Stable coin on our Radar is Dogecoin Price
Dogecoin price is no different from all the rest of cryptocurrencies in a bear market. Dogecoin is a decentralized, peer-to-peer digital currency that unlocks you to send money online.
Since its beginnings on Dec 15, 2013, Dogecoin price was initially at $0,000559. The first day of trading the prices went as high as $0,000904 and low as $0,000290 closing at a rate of $0.000298.
Dogecoin was very volatile for the upcoming months generating an average market cap of $54 million up to Feb 28, 2014. Unfortunately for Dogecoin price, the whole year of 2014 didn’t push the coin to the MOON as the creators and investors wanted. For Dogecoin price to increase, it was hard since the average market cap was $11 million and the traded volume only $285,574. Since its launch. Dogecoin didn’t see any new highs nor revisiting the ones previously achieved.
Dogecoin Price Might not see the Stratosphere not to mention MOON
The years that followed were not so giving for Dogecoin price. Everything was about to change in 1st of April 2017 scoring new heights were for Dogecoin. Not so “MEME” after all. Dogecoin started to grow day by day from $0,00033 to $,000736 by the end of the month. New traded volume of $5,8 million and a market cap of over $80 million.
The “MEMES” were all over the internet with the “DOGE” mascot riding a rocket to the MOON.
However, wait, that’s not all! May 25, 2017, Dogecoin price climb even higher reaching $0,003702 and a record of $400 million. Dogecoin dropped to an average of $0,001670 in the following five months.
The magic happened in December when Dogecoin price plummeted on an average of $,008873 and a touchdown in market cap with over $1 billion.
New Record High on January 8, 2018
The MEME was close to the Stratosphere with a new record high for Dogecoin of $0,017115. The coin market cap exploded for Dogecoin price at $1,9 billion and a total traded volume of $288 million.
Unfortunately for all cryptocurrencies and Dogecoin, everything started to decline, and the bear market continued ever since.
Dogecoin price was at an average of $0,003466 and revisited the rate of $0,005533 only once on May 4, 2018. The whole crypto space suffered because of the bear market. September 2018 was a good month overall for Dogecoin. Whit average highs of $0,005858 and a market cap of $615 million on average. However, Dogecoin price is in decline since October 2018, and a potential “to the MOON” might not be achievable this year.
Where is Dogecoin Heading this Year?
From a technical point of view, Dogecoin price might revisit previous highs. However, certain conditions must be in place such as the fundamental part of the analysis. With the overall market regarding volume, we can see a 4,8% depreciation in the past three months.
Today’s Dogecoin price is at $0,003062 with a market cap of $358 million and a volume of $8,5 million.
Let’s not judge Dogecoin price since all cryptocurrencies are facing the same problem at the moment. The current market conditions might prove profitable. Since we are looking to buy low and it’s only a matter of time before the bull run.