Is Now a Good Time to Buy Dogecoin?
The crypto market is still kind of in this tenuous position. There seems to be some correlation still between current trading and cryptos and technology and growth stocks on the stock market.
Crypto needs to break away from that because the stock market has its own challenges. Certainly, inflation is still high.
Dogecoin does look to be trading strong and somewhat upwards
Dogecoin, it’s way down from 73 cents. The price of Dogecoin is just under 14 cents, did have a nice run overnight and into the morning, but came up over 14 cents and now has dropped back a little bit.
Dogecoin can break out of its downward triangle that it’s been trading in. I see that for Dogecoin. But I think there could be another dip. So is now a good time to buy Dogecoin or do you wait for another dip? I’ve heard a lot of people waiting for that next step, it’s going to dip hard. I don’t see it dipping hard. I see strong support here above 13 cents.
There have been a couple weeks that have come down below 13 cents. We might be able to see that again, but hard to say right now. Dogecoin does look to be trading strong and somewhat upwards.
Dogecoin is here to stay
If we look at some of the recent articles, this is Seeking Alpha and they do good review of markets in general. It says Dogecoin is here to stay. So cryptocurrencies overall in 2021, many cryptocurrencies have given up their gains that they have from 2021.
So it’s not been a great start of the year for 2022. We’re looking at high inflation, slowing growth, increasing interest rates that have been hurting the technology assets and particularly for the most innovative and disruptive technologies.
So those companies on the stock market that don’t have good solid products have been really hurt over the past month or so in the stock market, and cryptos tend to follow that. However, Dogecoin’s strong community, its infrastructure and public image will allow it to survive the broader sector’s decline, even with potential continued volatility.
Dogecoin community is what keeps it strong and what keeps Dogecoin alive
And let’s talk about the community, Billy Markus is really talking about don’t get all hung up on the what the price of Dogecoin is. I know that’s hard to do because it’s an investment and you’ve got money involved in it. But the Dogecoin community is what keeps it strong and what keeps Dogecoin alive is the strong community.
Another article from Nasdaq how to buy Dogecoin. Here’s another one on pocket link. Where to buy Dogecoin. So we’re starting to see more and more of these articles that are talking about buying Dogecoin, which I think is great, and it’s starting to show me a signal that word is getting out there more about Dogecoin than other cryptocurrencies.
It’s starting to reach more of the general public and to get more new buyers coming in and buying Dogecoin. That’s what we’re preparing for with these upcoming catalysts that we see Space X, Tesla, AMC, Robinhood, all of that that’s going on. That’s all going to be news that’s going to be out there. It’s going to get new buyers coming in. And buying Dogecoin.