Meme tokens are a separate branch in the crypto world. In general, it’s surprising that such a “concept of money” works 😅 But the fact remains: fundamentally, the coin is not much different from the fiat currencies of many countries. Therefore, if I had a choice: invest 1% of my capital in Turkish Lira or in DOGE. I will choose the 2nd without hesitation!
🔎 Fundamentally:
The coin was launched in 2013 as a fork of the Litecoin blockchain, and Litecoin is a fork of the Bitcoin chain. The DOGE blockchain creates a block in 1 minute, while Bitcoin takes 10 minutes.
Unlike almost all cryptocurrencies, the Dogecoin network works through the Proof-of-Work algorithm, which gives the coin true decentralization. In essence, Dogecoin is an almost exact copy of Bitcoin, only the emission of Doge is not limited, which is a big disadvantage.
🚀 It was thanks to Musk that the coin soared by +15000% in 5 months. Draw your own conclusions :) And on the Tesla website some products are still sold for DOGE. In fact, for the coin to come to life, Musk needs to start a “PR campaign” again on his social network, and this can start any day, so it’s better to invest now.
🕯 Technical analysis:
The coin has finished forming the bullish Wedge pattern, which has been forming for a whole year! The volumes decrease as they narrow within the figure, which is an ideal combination for this pattern. The coin has been in the “accumulation” stage from April 2022 to the present day. Coming out of the $0.05-$0.16 corridor could be a sharp impulse.
✳️ Entry price: $0.08
🛡️ Stop loss: I recommend taking a deal for investment without a stop.
💼 Volume per transaction: up to 1-2% of the crypto portfolio.
🎯 Goals: $0.16; $0.31; $0.71.
📈 Rocket growth potential: up to 800% by the end of 2024.
📊 Result: According to the technique, the coin is completely ready for flight. Probably, in the near future we will see a new tweet from Musk, due to which the price of the coin will more than break through the nearest resistance and go to close the set goals 🤔
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