Anyone who ventures into an investment opportunity enters with a desire for profit, in plain words, to make money. In the crypto world, that dream can be achieved by a significant appreciation of the value of a coin. This is exactly what we have been witnessing in recent times with some major cryptocurrencies.
The crypto world has experienced its ups and downs this year but so far has had an intriguing run as several crypto sub-sectors including decentralized finance (DeFi), Memecoins and Layer-Two solutions have seen their total value locked and fired up into new heights.
Dogecoin specifically has been showing some great potentials with on-chain data and trading volumes suggesting a shoot-up soon. Major analysts and experts are convinced with these activities that Dogecoin will be experiencing a significant high in the nearest future.
It is still amazing how an underdog sprung up almost out of nowhere and now has evolved into eye candy for speculators and investors alike in the crypto world. Over the last three to four weeks, DOGE has gained some serious momentum and several statistical data imply tangible market sentiments as it’s becoming increasingly bullish. Market charts show that since hitting a low of $0.159 almost three weeks ago, the price of the Dogecoin has run up 120% to a high of $0.35 by yesterday, as its 24-hour trading volume jumped by 63%.
The envisioned rise of DOGE is validated by some strong points identified by analysts, which includes the fact that in the past week, Dogecoin’s 24-hour trading volume on coinbase, averaged $200 million per day. Wow! DOGE’s exchange volume is truly on the rise and that’s a clear sign of more wins to come. Not many coins can boast of Dogecoin’s recent volume and that’s a firm reason to invest in this potential wave.
It would take a whole lot to disprove the up-rise of the coming times with the kind of volumes we’ve pointed out and as though that’s not enough, we can still identify a lot of bullish sentiments.
Many analysts identified this and a couple has even taken to their social media to crusade it. There is no hiding the fact that the price of DOGE is cheap to buy compared to other major coins and with its bright future, this “bonanza zone” is a really attractive pull to speculators and thus contributes a number to the identified bullish sentiment.
For obvious reasons, many Crypto enthusiasts who saw the shoot of BTC from its early days up to what it is now, have come to see DOGE as a second chance. After missing a seemingly once-in-a-lifetime investment opportunity with some of the major coins of today, DOGE presents another chance to ride the crypto growth trend from a nice sniper entry. One of the long-term viability indicators for any Cryptocurrency is its ability to attract new token holders. It’s basic economics! The higher the demand, the higher the price.
Dogecoin is currently at its highest level of adoption and demand since the bull markets of 2017, with so many ‘new coin owners’ joining the DOGE tribe daily and they already account for 25% of the total DOGE circulating supply.
The up-rise of DOGE has been predicted, it has been calculated, analyzed and very anticipated. It’s at your fingertips to dive in so, stay put and prepare for the bloom.