Figure 1
Figure 2: 1 Year dogecoin timeview
Since the beginning of the year, what has been the hottest investing trend? It's difficult to provide an objective answer to that question, but regardless of your position, cryptocurrencies in general, and Dogecoin in particular, must be included in the discussion as a crypto trader. Dogecoin's value has skyrocketed in vaule in the past few months, but nevertheless in terms of bull case dogecoin remains flimsy, however, cryptocurrencies are increasingly seen as a hedge against inflation.
Tesla CEO named Elon Musk were seen to be the main catalyst that affect the rise and fall vaule of degocoin, furthermore it been recorded by online businesss directory called CRYPTWERK, that about 1,300 businesses acccept dogecoin as payment, A miniscule fraction of the total number of U.S based companies, FOR THIS, dogecoin isn't the best for you on a long run, why? if your wealth is control by a person, he may decide to crash your wealth when he has a dipolar disorder and he can as well greatly increased it when his happy. Trade wise my fellow traders , this is a good note to traders out there.
Figure 3
Dogecoin has returned to the crypto calm with a nearly 40% increase last week on the back of its Coinbase listing and – guess what? – another Elon?
You probably aren't surprised to see Musk's name next to the words "Doge" and "tweet" any longer, but his snippets continue to send prices soaring.😁😁😁🤣🤣🤣🤣
REFERENCE
https://www.tradingview.com/symbols/DOGEUSD/