Dogecoin News

Dogecoin Price Takes a Steep Downturn; Recovery Gets Delayed

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Dogecoin is currently trading at $0.0021. The coin started the month trading around $0.0025. During the ongoing month, Dogecoin was seen touching $0.0027 and even reached near $0.0028. The same levels were touched by DOGE previously on August 26. With the current momentum, there was a high possibility for Dogecoin to come out of the previous losses.

Well, the anticipations came crashing down with the market today. There is a heavy loss in the price and the recovery seems postponed. Let’s have a look at the intraday chart to analyse the price movement more precisely.

DOGE TO USD Price Chart:

Yesterday, Dogecoin started trading around $0.0025. The currency kept dealing at the same level in the first half, but the second half brought a heavy fall. The price of Dogecoin moved from $0.0024 to $0.0020 by 18.40%. There was an instant recovery which took the coin to $0.0022 by 12.85% and the day closed around the same price mark with an intraday loss of 10.83%. Today, Dogecoin was seen falling from $0.0022 to $0.0021 by 4.93%. Recently, DOGE spotted a slight recovery of 1.74% as the price counters jumped from $0.00215 to $0.00219.

Dogecoin Price Chart

Dogecoin gets vastly influenced by Bitcoin (BTC). Today, Bitcoin is trading around $8,400 whereas yesterday it was above $10,000. It is assumed that Dogecoin has taken the steep downward move as influenced by Bitcoin. Well, Bitcoin has a high recovery expectation which can take Dogecoin up again. The coin has a high possibility of upsurge; hence, the investment wouldn’t go fruitless. Dogecoin would give best result to long-term traders. However, the current price movement is not suited for purchase hence it is recommended to hold the investment for some time.

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