What is Dogecoin? Chart Study and Future explained

There is no doubt in it that cryptocurrency is seeming one of the emerging market right now all over the world. People are dealing in a great way within the use of cryptocurrencies and its becoming one of the popular financial market sector same like as stock trading, forex trading etc. Though there are still so many things to be fixed out and we all are waiting for that moment. Cryptocurrency market does contain so many types of differ crytocurrencies and they may differ regrading the term called business, according to the business nature every cryptocurrency is differ from other but all of them are fully working upon the technology of blockchain.

There are so many differ types of cryptocurrenices and they are not limited, most of stock exchanges have a big list of differ cryptocurrencies to trade and invest, though professional and good investor’s mostly recommend to go with top 20 to 30 cryptocurrencies because they are more secure than other’s, but regarding the security there is no proper evidence that top 20 or 30 cryptocurrencies would not be zero. Anything does possible in this market and this is totally depend upon an investor and trader that how he or she has to choose a cryptocurrency to invest or trading. 

According to our research and study the most popular cryptocurrencies are Bitcoin, Ethereum, Ripple, Litecoin,Bitcoin cash, Dash, Dogecoin, Neo, Monero etc. Bitcoin is on rank 1 and this is one of the oldest cryptocurrency in the crypto market. To say bitcoin has an dominance of 50% on the whole crypto market but in real if we see other cryptocurrencies are totally dependent upon the bitcoin means to say that if bitcoin will go up other altcoins does also start to follow it and if bitcoin goes down all other cryptocurrencies start to go down.

Dogecoin is still an undervalued cryptocurrency and our team believe that dogecoin has a great potential to increase its value in future. We have been following cryptocurrency market since 2014 and dogecoin has really down a great job since then in crypto industry, lets have a look on proper summary of dogeocoin given as below:

  • What is Dogecoin?

Dogecoin is a cryptocurrency or we can say digital currency same like bitcoin which is based upon a peer to peer system where people can send and recieve money online hence it is an digital currency also . it had launched in 2013 and was introduced as a joke cryptocurrency and no one thought this that one day it will skyrocket. This crypto is also called as Dog Coin because this crypto has a logo of japanese famous breed dog (Shiba).

The most important thing is that dogecoin is well popular in the market compare to other cryptocurrencies and it into existence since 2013 which make’s it reliable and trustworthy  for us.

  • How to get started with cryptocurrency Dogecoin?

The first important thing would be a dogecoin wallet, look it does not matter what kind of crypto or virtual currency we have all those need a wallet or company site where we can store them in form of digital currency. Actually there are so many ways to invest in dogecoin but the simple one is to use a dogecoin wallet to keep them store for a long run, it does work same like an investing.

Though there are so many differ wallets available online for dogecoin wallet but we would suggest you to go with dogecoin official website for a use dogecoin wallet. Along with it we can deposit through a broker also, there are so many cryptocurrency brokers are avail where you can directly deposit and can do trade and investing both over there, there are so many forex brokers also who provide a trading platform for crptocurrency so there are so many ways to started with dogecoin cryptocurrency.

Futhermore if you are looking to invest a big amount of money then we would suggest you to use some hardware cryptocurrency wallet’s those are more secure secure than the online website’s wallets. Because cryptocurrencies is a high demanding subject now days that’s why to keeping your crypto safe it does become necessary to use a good security based crypto wallet for you.

  • Dogecoin Chart Study 2019 Lets have a look:

According ot the chart study we believe that still more downfall may come in the cryptocurrency market, market is still looking forward to hit the area of 0.0006 and from there there will be reversal bull sign. If you are looking to buy for a long term goal then it would be better to do partial buying everytime when we see a downward push over there in crypto market. if we see that market price does not support at the level of 0.0006 then more downside movement may come in dogecoin. Along with it the overall a good uptrend sign will appear after the breakout of 0.007 level which is so far away from the current market price, In short patience is required in dogecoin but no doubt that in it that the possibility is very high that a price of 0.05 to 0.10 cents would be achievable in coming future. Lets have a look on the chart strucutre of dogecoin as shown below:

As shown above in the image market is in sell mode right now since the middle of september 2018 sellers has been dominating the market and they are pushing the price more down and down. From here it will be interesting to see that does it will make a good support on the current price 0.002 or not because in past we had seen that the market price above from there. That’s why we take support as our strong area because in history we had seen that the particular price had moved the market price up from that specific area in past.

As we can see above in the chart the area of 0.007 would be really crucial for us, and if we see that once market break’s through that price then the chances of bull run would be very high over that price though we should have a good support of 0.007 otherwise downfall may come once again and price can go down. Furthermore most of trader’s just try to put their money in after watching the breakouts at once but that is not the right trading style to do trade in any financial market, the best thing would be to wait for a temporary reversay, means to say market would make a good support before the skyrocket that’s why we has shown the situation and possibility above in the chart.

We believe that if once we have a support of 0.007 after that market would not take a long time to reach the target of 0.02 cent because we don’t have any kind of strong resistance below the area of 0.02 cent, so according to the technical analysis the chances of bull run will appear in the price of dogecoin. That was all about the future market analysis of dogecoin. Current situation of the market is only for a long run buy, if you are looking for a short term buy better to avoid the trading right now but for long run sure this cryptocurrency would be a great choice for every crypto lover. We hope you liked the content thanks for reading. 

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