Understand prices: an accent in Dogecoin (Doge)

The world of cryptocurrency has experienced a significant increase in popularity during the last decade, Bitcoin (BTC) is one of the most exchanged and respected cryptocurrencies. However, there is another remarkable player who caught significant attention: Dogecoin (Doge). As a relatively small cryptocurrency, Dege has reduced its own niche in the market, attracting fans and investors.

What is cryptocurrency?

Before immersing yourself in the world of Doge, it is essential to understand what cryptocurrency is. Cryptocurrency is a digital or virtual currency that uses safety cryptography and is decentralized, which means that it is not controlled by any government or financial institution. Transactions are recorded in a large public book called Blockchain, which allows safe, transparent and falsification transactions.

Dogecoin (Doge)

Drawing in 2013 as a joke, Dogecoin was created by Billy Markus and Jackson Palmer to be an alternative fun and focused on the Bitcoin community. Initially, Dege had a very low market capitalization and transaction costs were extremely high, which makes users difficult to buy and sell. However, due to its popularity between players and fans, Doge has gained ground.

In 2014, Dege was even used as an official currency in the germ of the University of Michigan, further strengthening its status of legitimate digital asset.

Key characteristics of Dogecoin

• Low transaction costs : One of the most notable characteristics in Doge is its extremely low transaction costs. By way of comparison, Bitcoin transaction costs can vary from 0.0004 to 100 BTC per block.

• High liquidity : Doge has a relatively high liquidity, which facilitates the purchase and sale of users.

• Community centered : The Community of Dogecoin is known for its strong feeling of camaraderie and its support for the project.

Understand the price action

The price action refers to the behavior of the price of a cryptocurrency over time. Understanding the price is crucial for beginners and experienced merchants. Here are some key indicators to take into account:

• Trend : A trend refers to a price movement model. There are three main types of trends: up, down and laterally.

• Support and resistance

  : These are levels that the price of a cryptocurrency tends to bounce or unravel.

• Candle models : Spider graphics provide a visual representation of the price action of a cryptocurrency. Some popular models include the hammer, the fleeting star and the lower swallowing.

Dogecoin (Doge) Action Price

Let’s take a look at Dux’s prices action:

* Long -term trend : The long -term Dux trend has been up, motivated by its solid community support and growing demand.

* Short -term trend : The short -term trend is more volatile, with prices ranging from $ 0.01 to more than 1 USD in recent months.

* Support and resistance : Doge prices action often has 50 -day mobile average resistance, while support levels are generally around the beach low (for example, $ 0.05 to $ 0.20).

* Candle models : Dogecoin candlestick models have been more screwed in recent months, with a higher percentage of hammer candles and a lower percentage of fleeting stars.

Tips for Dogas Commerce

If you are new in the Dux trade, there are some tips here:

• Start Small : Don’t try to exchange large sums of money at the same time. Start with small positions to become familiar with the market.

• Use a commercial strategy : Develop a commercial strategy that aligns its risk tolerance and its objectives. Certain popular strategies for doge include the “buy and maintain” technical approaches based on analysis such as average reversion or impulse.

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