The crypto users are have got thrilled with this recent bull markets and many cryptoanalysts are predicting the bull market to arrive any time soon. Dogecoin (DOGE) has made a prominent position in the market. Even though the market has affected many digital assets, but it has stayed at a stable trading price. Dogecoin has traded between $0.0018 USD and $0002 USD, but most of the time it has traded at $0.002 USD price mark. The fumble in DOGE price has been due to the swear bearish trend of the crypto market from almost last one year. But, most of the time it has attained that stable price mark. In all these circumstances the meme coin has managed itself pretty well and has almost turned itself into a stable coin from meme coin.
The crypto market has been tedious for most of the time but for some investors (short-termers), the market has turned out to be an exciting one. We have seen glimpses of crypto market hinting towards a bear market. By the end of 2018, there was a strong bull run in the market and since then there have been such small interval bull runs in the market. Even though the bullish trend hasn’t stayed for a long time, but some of the coins have managed to go really high and that is where when short-term investor jumps in.
Dogecoin (DOGE) has been trading in positive territory and that is what makes its to go bullish in coming time. Back on 20th December 2018, DOGE spiked up to $0.0027 USD and not only Dogecoin many other coins have gone really high. These little surges do not concern long-term investors but for the short-term investors, they have something really to gain from it.
So, the key thing for the investor is to HODL their Dogecoin’s and wait for the right time, which may arrive soon. There is one key factor behind the stability of the Dogecoin and that is its real-world usage. This puts it way up into the crypto ranking and this is why it would be a long-running digital asset.
There are still some key aspects in which Dogecoin has to make modifications. Dogecoin needs to enhance its relationship with its users, they should create a proper platform where DOGE users could make interaction with the Dogecoin network. DogePal is one good platform but still, it has some vulnerabilities, slow verification process, and such other issues, as per the DOGE users. In the coming time, Dogecoin would come up with better replacements and would probably fix these small issues.
The sum of all this is that Dogecoin (DOGE) is worth of a HODL and investors need to understand the phenomenon of the crypto market trend. In the upcoming bull run, Dogecoin would be one of the biggest goats in the market. So, chances are high of getting a bigger return from the stable coin.
One main thing that can change things quickly for Dogecoin is entering a big partnership. That can create better chances of high flight for the digital asset and ultimately, all this progress will increase its demand among users.
Analyzing the current market performance of Dogecoin (DOGE), it was trading with a price of $0.00189 USD having a market cap of $224 million and a trading volume of $15 million. Currently, DOGE trades at the 24th spot, but it will get better as the market gets in better shape.