3 Master Names Announced Dogecoin Predictions: No Limits! - News-Credit-Mortgage-Coin

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Saturday, September 4, 2021

3 Master Names Announced Dogecoin Predictions: No Limits!

 



Dogecoin continues its journey, which started as a “meme”-based cryptocurrency, currently as the 8th largest cryptocurrency by market cap. Can it reach the top of the altcoin market like Ethereum? Skilling CEO Michael Kamerman explained the 2 features DOGE has to do this. Also, David Weliver, founder of Money Under 30, said that DOGE has a different position next to BTC and ETH. Analyst Akash shared DOGE technical analysis on Girimath.


Why did Dogecoin debut this year?

Dogecoin first came to fruition in 2013 and is basically based on the popular “meme” of a Shiba Inu dog named “Doge”. But this humor-focused cryptocurrency was the most lucrative altcoin project last year and even caught the attention of billionaire Tesla CEO Elon Musk. Dogecoin fans have often voiced their opinions on social media, where calls to take Dogecoin “to the moon” are common. For DOGE, which has a huge fan base behind it, Skilling CEO Michael Kamerman explained why he debuted this year in a recent interview. 

Kamerman said of DOGE:

Dogecoin distinguishes itself from other cryptocurrencies only because it is inflationary, meaning there is no limit to the number of cryptocurrencies in circulation. This, in turn, aims to encourage mining by removing the limit on cryptocurrencies.



These features, underlined by Kamerman, played a passive role in attracting more investors to DOGE, which has a very cheap price. So, can Dogecoin reach the heights of Bitcoin and Ethereum? Following his explanations above, Kamerman said:


However, the main driving force behind Dogecoin's popularity is the social media communities, with the support of high-profile business people like Elon Musk. The resurgence of interest in Dogecoin, originally launched as a parody currency, may seem attractive to investors due to its volatile price, but scalability and security issues need to be addressed for DOGE to have any real value.


Despite these features, which Kamerman points out, that Dogecoin (DOGE) lacks, the Dogecoin price has had an interesting year during the first half of 2021, characterized by incredible ups and downs. According to Coinmarketcap data, Dogecoin reached its year-high price of $0.7376 on May 8, 2021. However, as of September 3, the value of Dogecoin is significantly lower than its May peak of $0.300. Experts are not sure that Dogecoin can reach the top of leading cryptocurrencies like Bitcoin and Ethereum. David Weliver, founder of Money Under 30, recently said the following for Dogecoin:


Everyone loves to speculate about Dogecoin, but it's important to remember that Dogecoin is a parody of real cryptocurrencies. Unlike Bitcoin, Dogecoin has no fixed limit. Unlimited Dogecoins can be created.

DOGE technical analysis

Aside from being compared to Bitcoin or Ethereum, the DOGE price hit a stalemate after forming a swing high on August 16. Since this point, DOGE bulls have been nowhere to be seen, resulting in a bearish turn. However, the pullback has pushed the meme cryptocurrency into a critical support area that will trigger a possible rally. With his up-to-date analysis, technical comments from cryptocurrency expert Akash Girimath were bullish…


Dogecoin price is preparing for an explosive rise, according to the analyst

Dogecoin price is down about 25% after its August 16 high of $0.352. This decline pushed DOGE into a demand zone ranging between $0.262 and $0.281. This pullback was met with a spike in buying pressure that pushed the Dogecoin price as much as 12% to where it is now. Looking forward, investors can expect Dogecoin to continue its upward move until it encounters the $0.328 resistance level. A decisive close above this critical barrier would open the way to $0.40. However, in some cases, the rise may stop at the $0.368 resistance level. A rise to $0.40 represents a 35% climb from the current position.


On the other hand, if buyers fail to keep Dogecoin price above the demand zone from $0.262 to $0.281, this will result in weak buying pressure and increased seller activity. Such a move could trigger the rise. However, a sure close below $0.240 will invalidate the bullish argument and if the collapse continues, $0.230 can be expected from DOGE price.


DOGE TECHNICAL ANALYSIS, ELON MUSK

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