Dogecoin News

Will 2020 Turn the Tide in Favor of Dogecoin?

Dogecoin (DOGE) began the year on a low note; however, this did not deter the price from moving above the baseline in the current volatile market. The seven-day price chart shows a roller coaster ride for its price with intermittent spells of upward and downward price movements. The price of Dogecoin has been moving in the range between $0.0019 – $0.0024 since the beginning of Jan 2020.

Dogecoin Price Analysis

The seven-day price chart indicates that the coin is trying to maintain its upward momentum despite the ongoing volatility. The price of Dogecoin was trading at $0.00208 on January 10. It then took an upward momentum and reached a high of $0.002291 on the next day showing an upward rise to the extent of 9.72%.

After this hike, the price had a fall on the same day to $0.0021088. Still, DOGE price managed to sustain its momentum and took an upper rally on January 13 to reach $0.002270 by 7.58% hike. Then, again Dogecoin price traded below the baseline and reached $0.002133 on January 14 with a 6.07% fall.

Dogecoin continued to outwit the bears and reached a high of $0.002354 on January 14, showing a rise of 10.33%. The current day’s price has gone down slightly to $0.002327; the fall is to the tune of 4.17%.

DOGE NewsThe currency has always held its ground even though the crypto market showed a bearish sentiment. Even now, at the beginning of 2020, the coin is putting up a brave fight against the bears. Analysts are confident regarding the ability of the coin to bounce back.

Investors should continue to hold the DOGE from a long-term perspective. Short-term and day traders can continue to trade cautiously to avoid any misfortunes.

Paul Jolin

Paul Jolin is an economist having experience in financial research. He joined CoinNewsSpan in 2017 and since then has been working with the team to offer best price analysis and review stories on the crypto space. He is optimistic about blockchain technology's use cases in terms of financial freedom. He also has experience as an independent trader.

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