Dogecoin Is Down But Not Dead - AutoTrading Strategies

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Dogecoin Is Down But Not Dead

Dogecoin Is Down
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Dogecoin is down in the crypto market and on social media. However, it is not dead yet. 

$DOGE hit 0.08 USD yesterday. The crypto euphoria and greedy sentiments of the market resulted in many cryptocurrencies hitting record highs yesterday. Dogecoin’s price also reached 0.08 USD. However, Price started to fall by evening. At 9:00 GMT, February 9th, Dogecoin hit 0.06 USD.

Ever since Elon Musk rooted for $DOGE, crypto enthusiasts expected the price of the coin to rise. The community behind the currency is strong and vocal.  The tweet volume of doge hit record highs. It attracted many newbie investors who were previously unaware of crypto’s potential. Resultantly, the price hit the highest value since 2014.

Dogecoin Chart
Source: Coin Market Cap

This is a lot of success for a coin that emerged as a joke in 2013.

Dogecoin is Down But Not Dead:

Dogecoin is down at the moment compared to its success yesterday. The price at the moment is hovering at 0.072 USD. The noob investors who came for the rise in price are disheartened over this downward trend. Nonetheless, the past price movements suggest that dogecoin is not dead.

Cryptocurrencies have always been volatile. This light fall is nothing compared to the gain in $DOGE value. It might just be a correction. Moreover, crypto coins keep some of the gains after the surge. So, there is no point in losing hope over plunging price.

Dogecoin army is growing. With the increase in the number of investors, the coin’s price will fluctuate but eventually rise. It might be a meme coin but has utility in certain circles. In addition, it has no cap so the price can rise indefinitely. Hence, traders can be sure that dogecoin is not dead. It can and will reach 1 USD.

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