So I would like to start this off by saying I am not a professional trader. I've been successful so I'd like to share with you guys a like bit of my thoughts. Take it with a grain of salt, and always do your own research This isn't investment advice
Dogecoin is a pretty notable cryptocurrency. It's market the ecosystem as it community has helped some great projects through donations, including a Jamaican team get to an event they were unable to because of a lack of funds, that the Dogecoin community provided. The cryptocurrency seemingly always bounces back from the bottom, and this seems to be no different.
So from my analyss on Poloniex of the DOGE/BTC pair, I think it's time we buy some Dogecoin. The DOGE token is currently trading at a mere 16 satoshies, so this is a pretty risky investment, taking into account that the cryptocurrency's value has been going down against Bitcoin, mostly because BTC went parabolic this year.
That said, I see BTC correct a little bit and I see DOGE bounce back agaisnt BTC, according to the graph I believe the cryptocurrency may reach 54 satoshis in Q1 2018, meaning we're currently in a buy zone. Again, these are my thoughts and not investment advice.
I believe that by the end of the year the currency may start rising, but don't expect too much. If you aren't willing to risk it, dont buy. If you enjoyed the piece, make sure you follow @frsvp for more.
Thoughts? LEave a comment below.