- Dogecoin price is continuing to be under bear pressure and has been through lot of ups and downs since beginning of the year
DOGECOIN (DOGE) did not begin the year on a good note but the price slowly started picking up and gaining an upward momentum. This uptrend was halted by the bearish volatility in the crypto market and then the price of DOGE went on a continual downslide as seen from the YTD price chart, where the price is fluctuating in the range of $0.0018–$0.0037.
Dogecoin Price Analysis:
DOGE investors does not have much to cheer in the ongoing bearish sentiment in the crypto market as seen from the YTD price chart. The price was at $0.0018 on Feb 06. It then shot up to a whopping 103.73% on Apr 05, at $0.0036. However, on May 07, the price showed a downward movement to the extent of 32.93% at $0.0024. The bullish trend had started in the crypto market and it took the price upwards to the extent of 56.99% on May 07 at $0.0038. The bear sentiment then hit the crypto market and the price went down to the extent of 42.88% on Sep 24 at $0.0021. Today, the price is at $0.0023, recovery being to the tune of a mild 9.52%.
The current bearish sentiment in the crypto market has put a lot of pressure on the price of most altcoins, which includes DOGE. Though DOGE had reached a good price during April and May, currently there is not much hope due to the bears having control over the prices. The short-term trend will see the price of DOGE going down further, but Experts expect DOGE to make a recovery by the year end. Long term investors should think from a long-term perspective and hold on to their current investments. Short-term traders may not gain much in this current bearish crypto market.