While the major part of the cryptocurrency sector is settling back into the sideways trading mode, Dogecoin (DOGE) is keeping up with the trend, and data suggests that using the dollar-cost averaging (DCA) strategy by investing $100 per week would not have been profitable for this digital asset in this year.

As it happens, DCA is a popular investment method that deploys spreading out purchases in specific intervals and buying in equal amounts of money, often used by investors who seek to avoid the downsides of other investing strategies that mostly rely on properly timing the market, watching the prices, and analyzing chart patterns. 

공교롭게도 DCA는 특정 간격으로 구매를 분산하고 동일한 금액으로 구매하는 인기 있는 투자 방법으로, 적절한 시장 타이밍에 주로 의존하는 다른 투자 전략의 단점을 피하려는 투자자가 자주 사용합니다. 가격, 차트 패턴 분석.

DCA-ing DOGE

DCA-ing DOGE

Unfortunately, this strategy is not always ideal, as the markets can go through long periods of bullishness and high prices, as opposed to relatively short bearish times when the asset is cheaper, failing to protect the investor from ending up in a loss, as is evident in the case of Dogecoin.

Specifically, purchasing $100 worth of DOGE at approximately the same time every week since January 1, 2023, which would mean investing a total of $3,900 over the period of 39 weeks, would presently be worth $3,233.14, or 17.10% less than the amount invested, according to the cryptoDCA data on September 27.

구체적으로 2023년 1월 1일 이후 매주 거의 같은 시간에 $100 상당의 DOGE를 구매하면, 39주 동안 총 $3,900를 투자한다는 의미이며, 현재 가치는 $3,233.14, 즉 투자 금액보다 17.10% 적습니다. 9월 27일 cryptoDCA 데이터에 따르면.

Dogecoin price analysis

도지코인 가격 분석

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As things stand, Dogecoin is at press time changing hands at the price of $0.0611, recording an increase of 0.59% on the day, although still retaining a loss of 1.65% across the previous week and declining 2.01% in the last month, as the recent charts indicate.

That said, factors that could help Dogecoin increase in price and make the DCA strategy a profitable one include positive developments related to its ecosystem, as well as the relevant public statements and actions of its biggest fan – Tesla (NASDAQ: TSLA) CEO Elon Musk.

즉, Dogecoin의 가격을 높이고 DCA 전략을 수익성 있는 전략으로 만드는 데 도움이 될 수 있는 요소에는 생태계와 관련된 긍정적인 발전뿐만 아니라 가장 큰 팬인 Tesla(NASDAQ: TSLA) CEO Elon Musk의 관련 공개 성명 및 행동이 포함됩니다. .

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