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Friday, March 1, 2024

Is It Too Late To Buy Dogecoin As DOGE Surges 3% In 24 Hours – This Is Where DOGE Is Heading Now


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dog coin Source: Adobe

dog coin (DOGE), the cryptocurrency powering the decentralized, payments-focused, dog meme-inspired Dogecoin blockchain, was up nearly 3% over the past 24 hours, according to data from CoinGecko.

Doge Last changing hands around $0.085, up about 5.5% from last week’s low in the $0.08 area, the cryptocurrency saw a solid bounce from its 100 and 200-day moving averages, both of which are currently around $0.081. .

dogecoin

Dogecoin is rallying alongside a bitcoin-led move in broader cryptocurrency prices, which comes ahead of a very busy week on the US macro front.

Analysts and traders will this week monitor the release of key US inflation, retail sales and consumer sentiment data, as well as the FOMC minutes, and assess how this data affects the outlook for US economic growth and the Fed’s policy direction.

The positive moves in crypto markets mean that markets are taking into account that easier financial conditions are coming, with inflation expected to come down significantly this week (on a year-to-date basis, anyway).

While it has certainly been a positive start to the week for Dogecoin, the recent moves pale in comparison to the violent price swings seen earlier this month.

Dogecoin pumped up 35% after Twitter changed its logo to the Dogecoin dog, before largely reversing the entire move over the course of a few days last week.

Price Prediction – Where Is Dogecoin Heading Now?

Although Dogecoin is currently down about 20% from its previous monthly high in the $0.10 region, the cryptocurrency appears to be in an uptrend that goes back to early March.

The fact that DOGE has such good support at its 100 and 200DMA is further confirmation that this uptrend is technically valid, at least in the short term.

doge

This suggests that Dogecoin is likely to move towards the top of the $0.06-$0.10/11 range that is now in play going back to last December.

Is it too late to buy Dogecoin (DOGE)?

asking what “Its very late” Buying a property is not a good way to think about the market.

An investor should only ask questions that are relevant to the asset’s price outlook and risk return.

If an investor believes that the outlook for Dogecoin is good over the medium to long term, they should consider allocating a proportion of their portfolio to the asset.

But to answer the question “is it too late” to buy Dogecoin more directly, no, it probably isn’t.

DOGE is still down about 90% from its May 2021 all-time high and about 40% from Q4 2022.

This means that anyone who is buying Dogecoin right now is arguably still “buying the dip”, or at least not buying DOGE at extremely high levels.

blue chip coins preferred Bitcoin And Ether is already in a bull market banking crisis/ Recession worries prompt the market to bet a Fed rate-cutting cycle later this year and it may continue to offer Dogecoin tailwinds.

From a historical perspective, now is arguably a good time to be in the market, but investors should always do their research to ensure that they fully understand the asset they are investing their hard-earned money in.

buy dogecoin now

Love Hate Inu (LHINU) – A Dogecoin Alternative to Consider

The fact that Dogecoin is already so famous and famous and already has such a large market capitalization makes 10xing it from current levels that much more difficult.

Therefore investors may want to consider investing in some of the lesser known coins that potentially have better chances of seeing exponential gains.

There’s a Great New Meme Coin to Consider love hate inuA new dog-meme-inspired social media polling platform that’s been taking the internet by storm for the past few weeks.

To fund the development of its revolutionary vote-to-earn platform, Love Hate Innu is currently conducting a pre-sale of its LHINU tokens.

The pre-sale has been a huge success, Love Hate Inu has already grossed a whopping $3.5 million and the press-sale will soon enter Phase 5.

How Cryptonews.com analysts rank Love Hate Inu Earliest Sales of 2023 And many people think that crypto could make big gains when ICOs arrive later this year.

Love Hate Inu Buy Now



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