Price: $0.38399 1.2856%
Market Cap: 56.4B 1.7523%
Volume (24h): 8.63B 0.4%
Dominance: 1.7523%
Price: $0.38399 1.2856%
Market Cap: 56.4B 1.7523%
Volume (24h): 8.63B 0.4%
Dominance: 1.7523% 1.7523%
  • Price: $0.38399 1.2856%
  • Market Cap: 56.4B 1.7523%
  • Volume (24h): 8.63B 0.4%
  • Dominance: 1.7523% 1.7523%
  • Price: $0.38399 1.2856%
Home > Information news > Is it too late to invest in DOGE?

Is it too late to invest in DOGE?

Release: 2024/04/03 20:41 Reading: 418

Original author:TheBitTimes

Original source:https://coinmarketcap.com/community/articles/660d45eabe90a91f829833f5

Despite some hiccups, the crypto market has been infused with optimism since the start of 2024 as multiple cryptocurrencies – including Bitcoin (BTC) – reached new all-time highs.

The broad rally also revived in earnest many of the old meme coins and brought forth multiple new and successful ones with Dogwifhat (WIF) – holder of the highest price ever among the prominent members of its crypto type – being the most notable example.

Additionally, many of the internet-joke-based cryptocurrencies – including Pepecoin (PEPE), Floki Inu (FLOKI), and Bonk (BONK) – are either very close to or at their highest-ever recorded prices with two notable examples – Shiba Inu (SHIB) and Dogecoin (DOGE).

Picks for you

Here’s how much Bitcoin the U.S. government holds 37 mins ago
Is Andrew Tate preparing a multi-million dollar Bitcoin bet? 40 mins ago
US economist slams Bitcoin as ‘fake asset’ despite 50% rise in 2024 2 hours ago
R. Kiyosaki warns biggest ‘everything’ crash is coming; Bitcoin to $200 4 hours ago

Is it too late to buy Dogecoin?

While investment in any of the meme coins in the current crypto market context could yield immeasurable rewards, the fact they are so near their historic highs makes any such trade highly risky.

Dogecoin stands in stark contrast as it, despite being at its greatest price since early 2022 at $0.18, remains significantly below the all-time high. 

Additionally, DOGE has several positive indicators backing it, with Ali Martinez, a prominent crypto expert on X, explaining that the coin appears to be headed toward $1 in mid-April.

While the Analysis is, at press time, relatively old having been made in mid-March, it has been backed by other experts more recently. 

On April 1, the pseudonymous analyst Mikybull Crypto pointed out that Dogecoin flipped bullish on the monthly for the first time since 2021 and on April 2, in some ways harkening back to Martinez, described $1 as “a magnet target.”

Given that a potential climb to $1 would constitute nearly a 450% upside, the current trends in the crypto market, and general expert Analysis of Dogecoin’s performance and prospects, it would appear that it isn’t too late to invest in DOGE.

Still, it is noteworthy that, while a consensus that a surge is inbound exists, a rise to its old all-time high is a difficult task, let alone to $1 given Dogecoin’s annual supply inflation.

DOGE price chart

While $1 DOGE remains in the potential, the coin’s 2024 performance has already been exceptionally strong, particularly after the end of February.

Since the start of the year, Dogecoin surged 104.45% while it is also up 12.23% in the last 30 days.

More recent performance indicates that the progenitor meme coin is in a phase of correction and consolidation as it is 0.83% in the red on the weekly chart down 0.20% in the latest 24 hours of trading. Dogecoin price today stands at $0.1826.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source: https://thebittimes.com/is-it-too-late-to-invest-in-doge-tbt84323.html

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.