Cryptocurrency has grown a lot in the last decade, and new coins are emerging all the time. Ever since the inception of Bitcoin in 2010, the road was paved for future cryptocurrencies to rise in power. These alternative coins quickly gained traction while making use of a blockchain system to process economic transfers.
People and even countries have taken note of the power of Bitcoin. Recently, El Salvador legally adopted it as a tender for its citizens. That shows the power of crypto in this modern digitized world in which we now reside.
The emergence of other altcoins rose in popularity shortly after 2012, with Ethereum coming up second in value to Bitcoin. Then, there were smaller altcoins that hit the market and drew the attention of a new generation of investors. People who didn't have significant capital now had the chance to get in on the action.
Dogecoin was launched in 2013 as a joke and is a cryptocurrency sharing its roots with a meme featuring a Shiba Inu Dog. It quickly drew interest for investors young and old, which drove the price up significantly, causing the spotlight to shine even brighter on the new cryptocurrency.
Although the coin is not worth much in value right now, it has shown powerful upside potential and has a huge market cap. The market cap of Dogecoin is sitting at $31 billion, and analysts predict that the coin can reach $1 by the end of 2021. Some people are skeptical about the meme coin and think it is not a safe investment. However, there are 1000's others who believe that Dogecoin is an excellent asset for speculation over the long term.
There are many ways to invest in Dogecoin, and one method is an application called Dogecoin Millionaire. You need an application that can help you analyze the markets to know when to execute your trading strategy.
If you want to learn about trading, you must remember that it is challenging to master and can sometimes take years to be consistent. With the right software, the learning process can be more accessible as well as more analytical. It can allow you to view various asset prices, including Dogecoin, at the click of a button.
Let's learn more about Dogecoin and what has happened in the last seven years since its inception.
In January 2019, the meme-based currency coin surged over 600% due to Reddit users during the GameStop saga. That is not the first time that this coin has increased in value in an unusual situation. Dogecoin has been in the spotlight many times over the last few years and is the beloved coin endorsed by Elon Musk.
In 2013, an IBM software engineer named Bill Markus and Jackson Palmer, an Adobe software engineer, combined two of the most significant phenomena. These two phenoms were known as Bitcoin and the Doge meme, so their merged efforts resulted in Dogecoin.
In December 2013, the coin was officially launched to tip people online for doing good deeds such as sharing or liking a post. It was also highly sought after by many new investors looking to enter the cryptocurrencies scene due to its low barrier of entry. At its inception, there was plenty of interest from traders worldwide, leading the cryptocurrency known as Dogecoin to rise in value.
Within the first few days of opening, the market value had already reached $8 million, which caught analysts by surprise. A few years later, in 2017, the meme-based coin had risen to a market cap value of $2 billion, and in more recent years, it has grown even more in importance.
There is often volatility seen on the Dogecoin charts, which is why people use it to place short-term trades. When trading over the short term, you are putting your money at risk, so always be aware that around 70% of traders lose money when investing for the first time.
The coin was based on Litecoin's architecture and ran on the blockchain that secures its transactions. Executives at Dogecoin mentioned that the currency had been the most tipped cryptocurrency globally, which also drew even more attention to investors.
Dogecoin reached a market cap of $2 billion when Ripple (another popular altcoin) overtook Ethereum in market value. It was, of course, short-lived, with Ethereum retaking the second position in the next year.
There is a lot of hype around this coin. Its following is trying to push the value of the currency to $1. Even some celebrities are endorsing and promoting it by collaborating with users who made the cryptocurrency famous.
Whatever you think, it looks like Dogecoin is here to stay with its seven-year history in the industry. Please keep in mind that this cryptocurrency can be highly volatile due to fundamental aspects, so it is always a good idea to keep up to date with Dogecoin's latest news.
If Elon Musk makes tweets, there have often been spikes in price, allowing investors to speculate on a position. That makes it a good idea to follow him and other sources on the internet relating to the coin. It provides you with updated information that you can use along with your trading strategy.
Now that you know some things about the coin's history, it might be time to explore investing in this cryptocurrency. You can make use of Dogecoin Millionaire, a trading application that makes trading simple.
Everything from the sign-up to the download is simplistic and fast. Within a few minutes, you are going to be up and ready to view the markets using the intuitive design.
Dogecoin Millionaire is a trading software that makes viewing the markets a breeze. The application can display multiple assets, although it is best for trading Dogecoin. You can consider the market conditions in various time frames while deciding which speculative position you should enter.
There are various analytical tools and technical indicators that you can use to determine the market structure. Remember, trading could take years to masters, so it is imperative to learn about all aspects of the market and trading app. The more you know, the more you can develop your trading plan to suit your style.
Out of the many tools to choose from on Dogecoin Millionaire, some of the best are technical indicators. These tools can help you determine various market conditions, which you can use as a confluence to other qualifications in your strategy.
The software can allow you to open a speculative position when a price swing happens on Dogecoin. You need to figure out what kind of trader you are and decide whether you prefer long or short-term investing. Always consider the volatility of the price action of cryptocurrencies when placing your position on an asset.
With the technical indicators on Dogecoin Millionaire, you can find overbought and oversold conditions. Using an indicator like RSI (Relative Strength Index) helps find these areas quickly. A good thing to note is that these tools produce results with a delay, but sometimes using them over different time frames can deliver accurate predictions.
Confluence is an integral part of any trading strategy, and all investors should consider including it in their plan. The general rule of thumb is to have at least three or four confluences confirmed before placing your trade.
Dogecoin Millionaire allows you to open multiple positions or even prominent lot sizes with the easy-to-use execution system. Talk about execution, the execution speeds are fantastic, and the data you receive is updated every second. You can use that to add to your trading edge as you develop and grow as an investor.
A good recommendation is to think of trading as a long-term game. That means that it is suitable for HODL coins to expect long-term growth. The term HODL (Hold On For Dear Life) came to light by crypto investors during the emerging altcoin phase.
Thus, whatever way you enjoy trading, you can do it on Dogecoin Millionaire. Develop your plan, build your confidence, and analyze the markets with user-friendly and intuitive trading software.
Because cryptocurrency is a daunting industry to enter, we wanted to design this software to be as user-friendly and intuitive as possible. Traders made the software for traders because we know the challenges involved in understanding certain market conditions.
You can be sure that our software gives you a full view of the chart, allowing you to make intelligent choices when looking to speculate. The wide range of tools and technical indicators are easy to use and are adjustable to your preference. Some of the measurement tools are self-explanatory, and some are complex. You can learn more about these by performing a quick search on Google.
The button placement to access the indicators are all in a finger reach, and there is no delay in loading speeds when selecting your desired tool. We wanted to make Dogecoin Millionaire the most accessible software for beginners and think we have achieved that.
Although the software is suitable for beginners, it has enough features to satisfy even the most advanced trader. People enjoy this software because of the multiple ways they can view the Dogecoin chart.
When you use a multiple time frame analysis, you can find critical areas that are crucial pivot points where the market could change direction. A higher time frame offers more stability and confirmation on vital support and resistance levels. Advanced users are going to love the vast selection of technical indicators in the palm of their hands. Because these indicators are fully adjustable advanced users can use it to gain the upper hand in their strategy. If they have built a system based around confluences, they have a better chance of speculating correctly.
Be a trader who is always a market student, adapting and adjusting your plan where necessary. A clever investor is someone who doesn't let their emotions affect their positions in the market. Finding your edge is tough, but once established, its use becomes essential.
Whatever your investment plan, you might want to view the chart on a bigger screen. Well, Dogecoin Millionaire can run on many mobile devices and on a PC too. The fact that it has full compatibility on a desktop has attracted many people to the application.
Being able to see the more comprehensive picture on a desktop is imperative to a trader's analysis. It can mean the difference between a good or bad speculation. The software works with various operating systems, so there is no need to worry about incompatibility. When you sign up, the account manager contacts you to tell you more about the software. If you have any trouble, you can ask for assistance or even get the manager to place trades for you. This option is made use of by beginners who need help when entering speculative market positions.
Downloading the software to mobile or desktop takes mere seconds because of the small size of the application. You'll be pleasantly surprised at the simplicity of the installation, which is complete within a few clicks.
Once the Dogecoin Millionaire's installation is complete, you can invest in the meme-based cryptocurrency that took the world by storm. Use the software to make wise investment decisions when speculating on the price movement on a specific asset.
There are many predictions for the future of Dogecoin. Some analysts believe that the crypto could reach $1 by 2025, and others say $10. That depends on fundamental aspects, as celebrity tweets or Reddit users can easily influence this coin. At the same time, the currency grows in market cap value as new investors stake their positions. Who knows what Dogecoins price could increase to next.
Some people say they are waiting for a market crash, but we think there won't be much decline with its long history in the industry. Remember, market conditions are all speculation, even on stocks that are not related to cryptocurrency.
With more attention placed on Dogecoin by Elon Musk, interest in the meme coin has risen dramatically. It has even had its place on significant exchanges, and it can easily be traded or staked on the many trading applications.