The favorite cryptocurrency of Elon Musk, DOGE, has held in good stead lately. As the latest Dogecoin news predictions show, the coin has managed to move as high as $0.0027 before dampening its upward channel and losing some of its momentum.
After dropping down to $0.0014 in mid-March this year, DOGE has returned stronger but was trading sideways between $0.0023 and $0.0026. The MACD for the altcoin is still over 0 but on the daily scale, this line has been overtaken by the Signal line from 10 May and is now heading down.
In other words, the latest Dogecoin news predictions in the cryptonews show that DOGE may be placed as low as #33 on the total cryptocurrency market cap, but the legacy as the Elon Musk’s favorite coin keeps on living.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
In May 2020, we saw how Robinhood (a popular crypto trading app) listed the coin with high ranking cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic available on the platform. This gave a lot of traction to DOGE and boosted the price at several times.
For those of you who are new to this coin and only used to reading the Bitcoin price news on our website, the best way to explain DOGE is as a decentralized and open-source digital currency. Inspired by a meme of a dog, this token went from a joke to a viable option for investment.
Many people made profits with DOGE and are continuing doing so. DOGE to USD (USD Dollar) is the most common fiat-crypto trading pair available for the token. According to the official website, DOGE was forked from Litecoin and offers an alternative form of decentralized payments.
They have the best coin
— Elon Musk (@elonmusk) March 3, 2020
Created by Jackson Palmer and Shibetoshi Nakamoto (AKA Billy Markus) on December 6, 2013 – the token had been most commonly labeled as a “joke cryptocurrency”. In this manner, Shibetoshi Nakamoto is the version from the Shiba Inu (breed of the dog which DOGE was inspired from).
Whether or not this matters to you, the latest Dogecoin news predictions show that this altcoin is worth watching for and has increased a lot over time. After all, DOGE was never expected to become a top-ranking token but has maintained its reputation as a solid altcoin which is more than just a joke.
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