How To Take Advantage Of The Dogecoin DIP
Dogecoin, for instance, has been on a scary uptrend this year and even crazier downtrend that has seen many holders dumping it in a panic. We sure didn’t see either coming.
The low value of Dogecoin means it can be pumped massively and grow by a thousand percent or more, which can only be attained by Bitcoin after about ten times pumping of nearly one hundred percent.
And that’s nearly impossible. We understand that this growth potential for Dogecoin is what makes it susceptible to being chosen as an anchor for traders.
How we can take advantage of the current Dogecoin dip?
No other cryptocurrency had recorded such a speedy growth when it was at Dogecoin size and value. Dogecoin dipped from 44 cents in early June to 33 cents following its addition to Coinbase. Afterwards, Dogecoin kept dancing around the 30 cents mark. It managed to slip slightly below to test the resistance at 28 cents, and the price has declined consistently as the days pass without any of its notorious jumps.
There’s a degree of hope now available for those looking to benefit from the Doge market. You can join the growing list of investors currently stacking up large amounts of Dogecoin in their portfolio. The funny thing about the dip is that it helps you to be able to buy a coin at a lower price.
That is the critical advantage you can enjoy from buying the tip of any coin in the dip. Depending on your purchasing power. There’s no limit to how much Dogecoin you can choose to buy, especially with the price being kept down and looking like it would hit 25 cents soon.
What about predictions about Dogecoin would have a dollar or two dollars in a month or two?
There’s a degree of hope now available for those looking to benefit from the Doge market. You can join the growing list of investors currently stacking up large amounts of Dogecoin in their portfolio. Dogecoin for a thousand dollars when the price of Dogecoin hits 25 cents, investing a million dollars to buy the dip at that price means the investor gets about four million worth of Dogecoin.
It’s a pretty good bargain. Buying the dip earns you so much coin in the short term to earn you much more return on investment in the long term. If Dogecoin reaches 50 cents, you’ll be doubling your holdings, holding on for a month or more.
Dogecoin right now is a minefield for short term traders, but an exciting choice for long term investors. The current dip in the price of Dogecoin serves as an excellent opportunity to accumulate more coins into your portfolio. As for the Dogecoin price trends, further adoption would aid its cause by the end of 2021, Dogecoin might touch the two dollar mark.
Making a profit is the main objective
Companies like BitPay, the Dallas Mavericks and the hockey team San Jose Sharks have helped Dogecoin to gain ground as part of their payment service options. If more companies adopt Dogecoin and see more activity as a payment option, very soon, Dogecoin might reach somewhere around 10 dollars even sooner than expected.
It’s easy to understand why this is happening because the coin is the most promising crypto in the world today. In the history of Dogecoin, short traders have had a field day with its explosive price actions, but have been equally responsible for its price dumps as well.
Credit to the holders who provide some strength for the coin by keeping their holdings. It remains an exciting choice for long term investors. We can learn from a crypto trader’s perspective as well. Making a profit is the main objective. Buying the dip is the core practice.