Top 5 Potentially Profitable Cryptocurrencies in 2020: Investment Advice

dogecoin

At the time of writing, the price of Dogecoin was $0.002992. This means that it is up by 3.96% against the USD and up by 2.44% against the price of BTC.

While there are only 21 million Bitcoins that will ever be mined, Dogecoin has no limit. According to CoinMarketCap, there are over 120 billion Dogecoins in circulation, at the time of writing. Dogecoin has been in development since 2013.

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Dogecoin is a peer to peer, decentralized and digital currency that allows you to send money online easily. Dogecoin was initiated as a joke, but who knew it would become so significant in the crypto world. The Doge cryptocurrency is even used by retailers to accept payments. Its logo is a dog, that’s their friendly mascot which also makes them so much more likable among the social media crowd. It is a Shiba Inu, a Japanese breed of dog that shot to fame as an internet meme and represents the Doge crypto.

Here at Changelly, we treat Dogecoin (DOGE) cryptocurrency with respect, as DOGE is the perfect example of what can be achieved if a cryptocurrency has strong community support. Born as an Internet meme, Dogecoin demonstrates how a simple joke may increase in value and reach a $300M market capitalization. We’ve collected facts about the Dogecoin success story and provided DOGE price prediction.

This upward trend was seen across numerous cryptocurrency markets. Unfortunately, it was swiftly followed by a correction that saw Doge’s price drop to $0.002873. A notable decrease from its early quarter high, but still 38-percent up on where it opened the quarter. Dogecoin (DOGE) is a blockchain-based peer-to-peer cryptocurrency which was created in December 2013, as a tongue-in-cheek riposte to Bitcoin, and the crypto world generally.

Will Dogecoin hit $1?

Before the end of this year, the price of Dogecoin has what it takes to move as high as $0.009 and $1. If it doesn’t hit $1 by the end of 2019, it will hit this level by the first quarter of 2020.

What is Dogecoin?

The trading volume over a 24 hour period is $62,322,763 and the market capitalization is $357,651,803. Over the last 30 days, the price of DOGE has stayed within the range of $0.0035 to $0.0024. The major resistance at this time is at $0.0034. If the price of Dogecoin is able to cross this resistance in the next few days, there will be a more significant surge in price.

So what are you waiting for? Start using Dogecoin today!

As the price of cryptocurrencies rallied, Dogecoin recorded gains against the USD rising above the resistance at $0.0030. The surge in the price of Dogecoin wasn’t surprising as the cryptocurrency has proven itself a worthy project in the space. On the first day of April, the Dogecoin community dragged Elon Musk into a April fools joke in which he became the new CEO of Dogecoin. Right after he claimed it, the price of Dogecoin went to the moon. Even if DOGE has lost some of its April gains, the Elon Musk Dogecoin hype allowed the project to get extra visibility.

  • The surge in the price of Dogecoin wasn’t surprising as the cryptocurrency has proven itself a worthy project in the space.
  • As the price of cryptocurrencies rallied, Dogecoin recorded gains against the USD rising above the resistance at $0.0030.

Its original creators, Billy Markus and Jackson Palmer, wanted to create a cryptocurrency that wasn’t as stuffy or boring as Bitcoin. They wanted to create a digital coin that was fun, in the hope that it would appeal to a much broader audience than conventional cryptocurrencies like Bitcoin. Unlike Bitcoin, Ethereum is based on practical smart contracts used by many projects for the digitalization of transactions. The currency value may increase due to the increasing demand for its blockchain and functions, rather than a deficit of the asset as it happens with BTC right now.

How to get started with Dogecoin.

Dogecoin was created in 2013 as a parody cryptocurrency by Jackson Palmer, an Australian entrepreneur, and product manager with Adobe. It is among the earliest alt-coins in the network today.

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Unlike other cryptocurrencies, which have positioned themselves as disruptors of the existing financial ecosystem, Dogecoin professed no such ambitions. Cryptocurrency exchanges are websites where you can buy and sell cryptocurrencies. You can buy and sell Dogecoin on most crypto exchanges. The exchanges that have the highest Dogecoin 24-hour trading volumes are Bit-Z and Bittrex. Dogecoin had two notable rallies in Q2, the first came in mid-May and saw the cryptocurrency’s price rise from $0.

There are a lot of theories about why Amazon refuses to accept cryptocurrencies. The price of bitcoin is more volatile than the price of many other government currencies accepted by Amazon, so there could be some challenge in pricing products. On the last day of Q1, Dogecoin was trading at $0.002075; over the next four days its price rose to $0.003854.

On January 7, 2018, Dogecoin was trading at $0.017491, a staggering 1,442% up on where it was trading a couple of months earlier. One of the main differences between Dogecoin and other cryptocurrencies like Bitcoin, is that it’s inflationary.

A major role in the success or failure of this currency will depend on upcoming fork updates and rapid implementation of the Proof-of-Stake algorithm. The approval by regulatory organizations and community decision to de-list ETH from the list of altcoins may also affect its price growth in 2020. Once a regular of the top 25 coins list by market capitalization, Dogecoin has slightly edged down to be ranked the 32 biggest cryptocurrency at press time, according to Coin360. The altcoin surged about 2% over the past 24 hours, trading at $0.002 at press time. For example, Zcash and BitcoinCash – both coins mirrored the Bitcoin price graph.

Its branding featured a likeness of a Shiba Inu dog from a ‘Doge’ meme that was popular at the time. By January 2014, it had quickly and unexpectedly generated a large community following and had reached a market capitalization of $60 million. “I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago,” Musk confessed.

Using today’s bitcoin price of about $10,000 a coin, that translates to $2,500. Dogecoin reached its all time high price during the cryptocurrency boom across the winter of 2017 to 2018.