Dogecoin (DOGE) has been one of the best performers in the market for last six months. Dogecoin has gained a lot of popularity among the investors. DOGE with its announcement of ‘Dogethereum‘ gained a lot of momentum in it’s price but the price of coin seems to be eased of a bit from last week. It has been due to some factors, affect of market might be one issue because the market has been up and down in recent times. But the main factor of the descent of price has been due to misunderstanding with many thinking the Bridge is already live prompting but the officials made it clear that they are still working on the project and it will launch soon.
Analysis on how to Improve HODLers Holding!
In the last couple of months HODlers have been pretty happy with Dogecoins performance, because the coin has gone up rapidly and they have made a lot of money from dogecoin. Know in next coming weeks what should the HODLer do? Should they Sell dogecoin or just HOLD it for a while?
In the last couple of days the price of Dogecoin (DOGE) has dropped from $0.0060 USD to $0.0056 USD. Investors may be wondering whats going on but that’s not surprising because the price of DOGE went from $0.0025 USD to $0.0068 USD in a span of week or so. That was a very huge gain and it was a very good improvement by DOGE because the market at that time was mostly red. Dogecoin has been down a bit from last couple of days but DOGE will have a bull run sooner or later within this year, because their are two pieces of news (Dogethereum and Coin base Custody) that could definitely make it have a bull run.
What could be the reasons of another bull run? The reasons of another bull run can be the two pieces of catalyst news, one being the DOGE/ETH bridge because they have had a successful test of it and it has not fully launched. The other one is the coin base custody with dogecoin. Another fact that dogecoin is on Robinhood and Yahoo Finance which will make it go higher than $0.004 USD but the focal point will be the launch of Dogethereum and coin base adding DOGE.
In next few weeks the price of Dogecoin (DOGE) may fall upto $0.004 USD, a long time dogecoin hodler will not really care about the price, but those hodlers who want to maximize their money they should sell most of their dogecoin because the coin will still go down a bit before heading into another bull run.
Dogecoin is not gonna go on another bull run unless the bitcoin rallies tremendously. Holders should sell most of their coins and keep some of them and watch for the price of DOGE to go down up to $0.0046 USD to $0.0039 USD and then buy back the dogecoin. Cashing out right know and picking up 20% profit is better than sticking with it at the moment. In past, their has been a pattern of most coins going down after a huge price surge, like once a coin has a huge rise and there’s not enough good news and sentiment to sustain that price and then ultimately the price drops down, that’s what is going to happen with dogecoin. This is because unlike XRP, dogecoin doesn’t have any partnership with a large bank that will use it for their transactions and give them a boost.
So Dogecoin (DOGE) has been riding on a high sentiment for last two or three weeks and that good euphoric feeling is finally starting to wear off and it has been wearing off from last couple of days for the investors. So we will see a slow drop down in the price of DOGE to more of an equilibrium point which will be around $0.0046 USD to $0.0039 USD. This might drop down unless the DOGE/ETH bridge suddenly launches because a lot of hype has died down and we will see what it does to its volume or dogecoin comes up with an amazing partnership with PetSmart which may suddenly be announced and lead dogecoin to surge.
At the time of press, Dogecoin (DOGE) is trading at a price of $0.0057 USD and market cap of $665,002,067 USD. Dogecoin has dropped up to 1% in last 24 hours and expected to drop more in next few days until the market turns bearish but dogecoin will fall as per the assumptions. It has a volume up to $19,768,227 USD which is also expected to drop with price. But the important moment will be, when Dogethereum bridge will be set to launch. Investors should keep their eyes on the volume till the big announcements made by Dogecoin.