Understanding Price Action: A Focus On Dogecoin (DOGE)
Prices Action Action: Focus on Dogekoin (Doge)
The cryptocurrency world has experienced a major increase in popularity over the last decade. Bitcoin (BTC) is one of the most widely traded and respected cryptocurrency. However, there is another noticeable player who has received a lot of attention: Dogecoin (Doge). As a relatively low -capitalization cryptocurrency, the Doge has blown off its niche in the market, confirming both enthusiasts and investors.
** What is cryptocurrency?
Before diving into the world of Doge, it is necessary to understand what cryptocurrency is. Cryptocurrency is a digital or virtual currency that uses cryptography for security and is decentralized, which means that they do not control any government or financial institution. Transactions are recorded in a public book called Blockchain, which allows safe, transparent and forgery operations.
Dogecoin (Doge)
2013 Started as a joke, Dogecoin was created by Billy Markus and Jackson Palmer to be a fun, community -owned alternative to Bitcoin. Initially, Doge had a very small top limit of the market and the operations fees were particularly high, making it difficult for consumers to buy and sell. However, due to his popularity among players and enthusiasts, Doge has gained attraction.
2014 It was even used as the official currency in the dormitory of the University of Michigan, further strengthening its status as a legal digital property.
The main features of Dogecoin
- For comparison, Bitcoin operation fees can range from 0.0004 to 100 BTC per block.
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- Based on the community : The Dogecoin community is known for its strong sense of friendship and support for the project.
Prices for understanding the action
Over time. Understanding price actions is very important for both beginners and experienced merchants. Here are some of the key indicators that need to be remembered:
- Trend : Trend means a price movement model. There are three main types of trends: up, down and sideways.
- Support and resistance :
- Candlestick models : Candlestick charts provide visually depicting the cost of cryptocurrency. Some popular models are hammer, shooting star and teddy bear.
Dogecoin (Doge) price action
Let’s look at Doge’s price action:
* Long -term trend : Doge’s long -term tendency came up, led to its strong community support and increasing demand.
* Short-term trend : The short-term trend is more volatile-prices ranges from $ 0.01 to $ 1 in a period of time.
* Support and resistance : Doge’s price is often characterized by resistance at a 50 -day average, and support levels are usually found in a low middle range (eg $ 0.05-0.20).
* Candlestick models
: Dogecoin candlestick models have been higher in recent months – a higher percentage of hammer candles and a lower percentage of shooting stars.
Tips for Doge
If you are a new trade in Doge, here are some tips:
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- Attitude and technical analysis are based on methods such as average or moment.
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