Trading | 4 months ago
It Seems Like the Bubble of Dogecoin Has Already Popped as Dogecoin Fell by More Than 36% in This Week
Today the meme crypto Dogecoin took a big hit. Dogecoin fell by more than 25% to hit an intraday low of 0.193 in early trading on Friday, April 23. This week, the cryptocurrency market is very bearish, and a lot of major cryptocurrencies are seeing a down trend in prices.
Dogecoin (DOGE) is an open-source peer-to-peer cryptocurrency. The price of Dogecoin usually follow the trend of Bitcoin and Ethereum. Dogecoin is currently holding the 6th rank in the market capitalization Chart of cryptocurrencies. The Dogecoin community members on major social media websites like on Twitter and Reddit have designated April 20 as the ‘DOGE Day’.
The widespread promotion of Dogecoin by its community members including Elon Musk has helped Dogecoin make out of this world gains this year. Our analysts predict that this week's fall in Dogecoin is just a price correction after the massive gains of last week. This kind of massive pump and dump method deployed by social media investors to any cryptocurrency is very common.
There is a crazy excitement around the young community members of Dogecoin as they are able to invest in cryptocurrency with very less capital. As the Dogecoin is attracting more and more foreign institutional investors, domestic institutional investors and High Networth Individual investors, the Dogecoin optimism is growing strongly. One must look for buying opportunities in Dogecoin (DOGE).
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