Well, there’s no denying that the past few months haven’t been so great for Dogecoin. Last year, the cryptocurrency managed to rally all the way to $0.01 before eventually crashing back to earth. Now, the Dogecoin Meme has seen its fair share of ups and downs over the past few months, but at this point, it looks like it’s going to rally to $0.50 as early as June.
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Dogecoin could rally to $0.50 in June | This has been a tough month for Dogecoin, the fifth largest cryptocurrency by market cap. Since I wrote our last update on Dogecoin, it has fallen to $0.24, and it has only increased slightly since then. At the time of the last update, Dogecoin was trading at $0.238, but volatility has been high, as of late. That volatility could lead to a big rally, if the proper conditions are met.
Dogecoin, the meme-based cryptocurrency, has been quietly building up steam. In recent weeks, it has been on a tear, with a rise that has been described as “surreal”. The price has increased by nearly a third since the beginning of the year, and its value has increased by a staggering 2,400% in the last year.. Read more about can dogecoin reach $1000 and let us know what you think.
Dogecoin enjoyed unprecedented success before crashing in May – will fortunes return to Memecoin in June? Dogecoin has become one of the most popular and widely used crypto-currencies in the world. Of all the major crypto-currencies, Dogecoin has probably gained the most ground this year. At one point, Dogecoin’s search volume on Google was greater than Bitcoin’s, attesting to its popularity. With the cryptocurrency market at a crossroads in recent weeks, some traders and investors are left wondering how the leading meme currency will perform. This article looks at the price potential of Dogecoin as of June 2021.
What are Dogecoin’s results this year?
Dogecoin has been one of the most popular crypto-currencies in the world since the beginning of the year. The crypto-currency debuted this year at $0.00708 per coin. The eighth. However, it reached an all-time high of $0.7188 in May, posting a gain of more than 6,000% since the beginning of the year. Dogecoin’s impressive results over the past year. Source: CoinMarketCap The share price has cooled as a result of the current market correction. DOGE is currently trading at $0.36, down 50% from its all-time high. Nevertheless, it is up 3000% so far, and few cryptocurrencies can boast such a large return in less than six months. The adoption of DOGE may be due to its promotion by several well-known names such as Mark Cuban and Elon Musk. Notably, the CEO of Tesla and SpaceX is a big fan of the cryptocurrency and has even hinted that the electric car maker may accept it as payment for its vehicles in the future.
What events could affect the price of Dogecoin in June?
Dogecoin started June in good shape. The cryptocurrency was trading around $0.3, but rose nearly 30% to $0.5 last week. The rally was triggered by Coinbase’s official listing of DOGE as part of its pro platform. The cryptocurrency continued to gain popularity after Coinbase began giving away $1.2 million to DOGE. This award has promoted the adoption of cryptocurrencies because more people are interested in them. Currently, Dogecoin is still up 14% in the past week, making it the best performer among the top ten crypto-currencies in terms of market cap. Other events may affect the price of Dogecoin in the coming weeks. Daymak, a Toronto-based manufacturer of lightweight personal electric vehicles, has announced the development of a vehicle that can mine cryptocurrencies like Dogecoin, Bitcoin and others while parked. The company has gone even further and started accepting pre-order payments in many cryptocurrencies, including DOGE, ETH, ADA and BTC. A German taxi company, Tesla Taxi Aschaffenburg, is accepting DOGE as payment for rides. The San Jose Sharks, a National Hockey League (NHL) team, have partnered with BitPay and will accept Dogecoin and other major crypto-currencies. People can use DOGE to make purchases, such as season tickets and sponsorship deals. The official app of the California hockey franchise will also include a crypto-currency payment option, as users will be able to pay for many things with DOGE. Elon Musk has floated the idea of Tesla accepting DOGE as a form of payment. If this happens, the price of DOGE could rise in the coming weeks and months. Right now, news of these decisions could lead to a rise in the price of dogecoin in the coming weeks. Currently, the price of Dogecoin is still 50% below its all-time high, which is a potential buy signal for investors. Overall, Dogecoin has gained tremendous traction this month, despite bearish price action in recent weeks. This shows the tenacity of DOGE’s supporters and shows that buyer demand for the currency is likely to continue and even increase in June.
In addition to a flourishing fundamental picture for DOGE, there are also reasons to be optimistic from a technical standpoint. The DOGE/USD has managed to hold strong support at $0.30 in recent weeks. Since the bears have failed to break through this key support level, Dogecoin could be turning like a spring and ready to break out of the current support level towards a resistance level above $0.40. DOGE/USD chart. Source: Coincide Thanks to the recent wave of adoption news, the DOGE/USD pair could gain enough momentum to break through resistance at $0.43. The cryptocurrency is struggling to break through this level, but any move above it could set up DOGE for a rally towards $0.50. Further increases should be supported by the market in general. The cryptocurrency market is now in a recovery phase. If this trend continues, the DOGE price expectation of $0.50 for June seems like a reasonable target. If bitcoin’s current rally accelerates, DOGE could pull the rest of the altcoin market out of the doldrums, as all the recent positive news is creating a very bullish platform for the coin’s meme.When the Dogecoin community was formed in 2013, it was a joke. But as early as December 2015, it was the fourth largest cryptocurrency by market capitalization. By 2016, it had shot to the top, competing with more high profile coins like Litecoin, Ethereum and Bitcoin. And today, the meme-themed Dogecoin is a serious contender for the biggest cryptocurrency in the world.. Read more about where will dogecoin go in 2021 and let us know what you think.
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