IS Dogecoin Dead? Analysis Dogecoin Prices

Dogecoin is one of the crypto assets that has also been categorized as a meme coin. It is a decentralized digital currency that runs on blockchain technology allowing users to transfer money online in a secure manner.

What is Dogecoin?

Dogecoin ( DOGE ) is a meme based coin that runs on blockchain technology. The open-source currency was created by Billy Markus of Portland, Oregon, and Jackson Palmer of Sydney, Australia, and spun off from Litecoin in December 2013.

Although co-founder Billy promotes Dogecoin NFTs, his partner Jackson Palmer has remained critical of the industry, considering it corrupt and manipulated.

How do you mine Dogecoin?

Dogecoin mining differs from  Bitcoin’s Proof-of-Work protocol in several ways, one of which is through the use of Scrypt technology. The altcoin also has a block time of 1 minute and the total supply is uncapped, meaning there is no limit to how many Dogecoin can be mined. You can mine Dogecoin solo or by joining a mining pool.

A Dogecoin can be mined on Windows, Mac, or Linux with a GPU.

Dogecoin Price History (2013-2021) and Technical Analysis

2013

Born in 2013, Dogecoin’s growth was slow at first. The market capitalization of $3.5 million did not deserve the market’s attention. Then, within a few months, it started to rise again significantly.

2014

Dogecoin’s prediction for the second year was disappointing as Dogecoin hit new lows and felt the pain of a market-wide downturn. Also, it faced immense competition from new coins including Stellar, Neo, and Monero.

2015

Jackson Palmer, the co-founder of Dogecoin, left Doge, which did not bode well for the coin. The year saw a lot of negative press about Dogecoin, and many analysts predicted Dogecoin’s death.

2018

2018 was a bearish year for cryptocurrencies, and Doge was no different. Altcoins have fallen significantly in a few months.

The rally saw the Dogecoin trade near the $0.017 level, but the bullish outlook for Dogecoin was short-lived as the price touched a low of $0.002 and stayed there for an extended period.

2020

Dogecoin traded in a strict range of $0.002-$0.005 for most of the year. It gained momentum in late 2020 when Bitcoin was hitting new highs.

2021

In January, the Dogecoin price chart saw green candles across the chart as the month ended with the Dogecoin price life at $0.037. In just a few days, the price of Dogecoin managed a price surge of 692.14% while in April 2021, the price of Dogecoin rose by 527.6%.

The price of Dogecoin eventually fell 22% in June, and the price fell over 18% in July. The recent Dogecoin price prediction shows that the market price of the coin rose after Elon’s Tweets.

This Dogecoin (DOGE) price is currently $0.2 as the market value of the coin is seeing an increase today. In September, the price of Doge dropped by more than 26%, although recently we have seen that AMC will start accepting Dogecoin for payments.

The people who use dogecoin are very satisfied with its network for transactions

Therefore, projections of Dogecoin through 2021 show that sharp changes in the Dogecoin market are to be expected in the near term, as price action and sharp price changes continue beyond 2021. as Bitcoin and hokkaido inu Price Rise Continues.

Compared to prices at the start of the year, DOGE has made massive profits in 2021, gaining over 3100% in 2021.

Also Read about: What is a Centralized Exchange?

 Is Dogecoin Dead in 2022?

In 2022, Dogecoin started falling. The bulls were struggling to sustain a break above the $0.20 level during this time frame. The price of the coin broke out of its upper Bollinger band and there was resistance at $0.135. Until it breaks the resistance, it could retrace back to the support at $0.126 in the next few days. Doge is still trading in the green zone, and it is up 0.61% in the past 24 hours.

Additionally, Dogecoin’s price today is $0.134077 with a 24-hour trading volume of $858,089,452. We update our DOGE price in USD in real-time. Dogecoin is up 0.61% in the past 24 hours. CoinMarketCap’s current ranking is #13, with a live market cap of $17,788,064,689.

It has a circulating supply of 132,670,764,300 DOGE coins and the max. Supply is not available. Due to the massive developments, the coin will undergo next year, it could easily perform better in the long run.

Most exchanges have simple registration processes and users can get started almost immediately after registering. Merchants can open their accounts, create a wallet and transfer the money using the appropriate channels, including credit cards, debit cards, or bank transfers.