Understanding the amount of price: Dogecoin (DOGE) focus **
The world of cryptocurrency has grown significantly over the past decade, as Bitcoin (BTC) is one of the most widely marketed and respected cryptocurrency. However, there is another noteworthy player who has received considerable attention: Dogecoin (DOGE). As a relatively small cryptocurrency, DOGE has made its own gap on the market, attracting both fans and investors.
** What is cryptocurrency?
Before you get into the dog’s world, it is essential to understand what cryptocurrency is. The cryptocurrency is a digital or virtual currency that uses cryptography for security and is not controlled by a single government or financial institution. Transactions are recorded in a public ledger called a blockchain that allows secure, transparent and counterfeiting -proof transactions.
Dogecoin (DOGE)
Launched in 2013, Dogecoint Billy Markus and Jackson Palmer made with the aim of having a fun, community-driven alternative to Bitcoin. Initially, DIGE had a very low market limit and transaction fees were extremely high, making it difficult for users to buy and sell. However, because of the popularity of players and fans, Doge was attracted.
In 2014, DOGE was still used as an official currency at the University of Michigan in Dorms, further confirming the status of legitimate digital device.
The most important features of dogecoin
- Low transaction fees : One of DOGE is one of the most remarkable properties of the extremely low transaction fees. By comparison, Bitcoin transaction fees can vary from 0.0004 to 100 BTCs per block.
- High Liquidity : DOGE shows a relatively high liquidity, making it easier for users to buy and sales.
- Community -driven : The Dogecoin community is known for its comrade feeling and project support.
Understanding the price operation
The price refers to the behavior of the cryptocurrency price over time. Understanding price management is essential for beginners and experienced merchants. Here are some key indicators to keep in mind:
- Trend : The trend refers to the model of price movement. There are three main types of trends: up, down and side.
- Support and Resistance : These are the levels that the price of cryptocurrency tends to bounce or break through.
- Candle holding samples : Candle holders diagrams provide visual representation of the cryptocurrency price. Some popular patterns include hammer, shooting star and bear flooding.
Dogecoin (DOGE) Price Action
Take a look at the doge price -up:
* Long -term Trend : DOGE’s long -term trend has been upstairs, strong community support and increasing need.
* short-term trend : The short-term trend is shaky, prices in recent months ranging from $ 0.01 to $ 1.
* Support and Resistance
: DOGE prices often show resistance to the 50 -day moving average, while support levels are usually around the low medium range (such as 0.05-0.20).
* Candlestick patterns : Dogecoin candlestick patterns have been better in recent months with higher percentage hammer candles and a lower percentage of shooting stars.
Tips for DOGE Trading
If you do not know the commercial dog yet, here are some tips:
- Start the little : Don’t try to trade large amounts at once. Start with small positions to become more comfortable on the market.
- Use a trading strategy : Make a trading strategy that meets your venture tolerance and goals. Some popular strategies for DIGE include the “reception” approach and technical analysis-based approaches such as average reversal or momentum.
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