Dogecoin (DOGE/USD) has seen a notable increase in its price in recent weeks, rising from 0.070 US dollars at the start of the year to 0.097 in mid-February. Despite this growth, the price of Dogecoin has not risen as much as other major cryptocurrencies, with only a 15% increase since the beginning of the year. The growth potential for Dogecoin remains high, however, as the overall cryptocurrency market is expected to rise in the coming weeks.
Dogecoin’s price is heavily influenced by market sentiment, which can be heavily impacted by positive or negative news. Additionally, the supply and demand of Dogecoin, its adoption and usage, the emergence of new cryptocurrencies, and technical analysis can all affect its price. If the Bitcoin price continues to rise, Dogecoin should also see a surge in the coming weeks.
Dogecoin is still highly speculative, and any investment should be carefully considered. However, the potential gains of investing in Dogecoin are enormous. CryptoTicker Podcast offers episodes tailored to quickly and effectively familiarize listeners with new topics in a fun setting. Listeners can tune in to the Podcast on Spotify, Apple and YouTube.