Dogecoin price prediction and analysis for March 2021 is here. If you intend to invest in this cryptocurrency in the coming month, then it will be useful for you to read this article to the end. Here’s the important information you need in order to make the best investment decision.
Dogecoin (DOGE) Overview
Dogecoin is a fun cryptocurrency created by two programmers to explore the fun side of crypto. The native currency DOGE is now the 12th largest cryptocurrency by market cap. Dogecoin was forked from Litecoin, which is itself a Bitcoin fork, and was targeted for the less tech audience outside of the technical crypto community.
Unlike Bitcoin and Litecoin, DOGE is not mined using Proof-of-Work, but rather using Scrypt Technology, with a much shorter block time of one minute. Anyone can mine Dogecoin on their own or by joining a mining pool. There is no limit to the number of coins that can be mined.
DOGE is primarily used for tipping content creators on Twitter and Reddit. There are currently 128,345,470,276 DOGE in circulation, with a market cap of $8,723,412,669.
Dogecoin Price Prediction: Analysis
2020 has been an eventful year for Dogecoin. This has been primarily due to well-known persons, such as Elon Musk and Snoop Dogg, shilling the coin. Dogecoin rose to displace Litecoin, the 8th largest cryptocurrency, at some point when Musk was tweeting about it regularly. In fact, it has been a steep rise in a straight line since late January, as the price kept rising consistently, even gaining 800% in a single day at one point.
The daily chart on Dogecoin shows that the coin has been in an upward trend, as everyone clearly sees. It has, however, entered a consolidation phase with a consistently tightening range that is approaching a breakout. So far, Elon Musk and others’ shilling has drawn a lot of attention to the cryptocurrency. Although it is hard to tell precisely, such attention may serve as fuel to break the coin upward, which will likely continue the upward move in the short-term.
The RSI is just above 70, but it was around 90 towards the end of January before dropping to about 65. This may suggest that there is room for buyers to still push upward, which may coincide with the impending breakout.
To help guide traders’ entry and exit decisions, Walletinvestor has calculated the key support and resistance levels for Dogecoin, which should serve as a useful guide. The levels are as follows:
- Resistance Level (R3): 0.0914;
- Resistance Level (R2): 0.0861;
- Resistance Level (R1): 0.0795;
- Pivot Point: 0.0742;
- Support Level (S1): 0.0676;
- Support Level (S2): 0.0623;
- Support Level (S3): 0.0557;
The Dogecoin price has been pumping unusually recently. The price has risen to an all-time high of over $0.07. However, beyond the financial gains, Dogecoin’s technical aspect may be receiving a face lift as well as the technical team has gone to work to upgrade the codes to withstand the growing pressure on the cryptocurrency.
The lead maintainer, Ross Nicoll, said that the first commitment of the team is to increase the scaling capabilities of the network, as the number of nodes has increased from a few hundred to about $1,300. Nicoll himself has not committed to the project’s Github page since 2019, but has told CoinDesk that a significant number of pull requests have been coming in since the last few weeks that Dogecoin has notably increased in price.
Dogecoin Price Prediction: Market Opinion for March 2021
Digitalcoinprice states in its Dogecoin prediction that the price will reach an average of $0.10616669 in March 2021.
Gov.capital’s Dogecoin price prediction is that the cryptocurrency will reach as high as $0.082915 in March. Bellow is the full price forecast for March 2021:
Least possible price
Best possible price
2021 March 01, Monday
2021 March 02, Tuesday
2021 March 03, Wednesday
2021 March 04, Thursday
2021 March 05, Friday
2021 March 06, Saturday
2021 March 07, Sunday
2021 March 08, Monday
2021 March 09, Tuesday
2021 March 10, Wednesday
2021 March 11, Thursday
2021 March 12, Friday
2021 March 13, Saturday
2021 March 14, Sunday
2021 March 15, Monday
2021 March 16, Tuesday
2021 March 17, Wednesday
2021 March 18, Thursday
2021 March 19, Friday
2021 March 20, Saturday
2021 March 21, Sunday
2021 March 22, Monday
2021 March 23, Tuesday
2021 March 24, Wednesday
2021 March 25, Thursday
2021 March 26, Friday
2021 March 27, Saturday
2021 March 28, Sunday
2021 March 29, Monday
2021 March 30, Tuesday
2021 March 31, Wednesday
According to Tradingbeasts‘s Dogecoin prediction, the price will be $0.0795308 at the beginning of March. The minimum expected price for the month is $0.0677542, the maximum is $0.0996386, and the closing price is $0.0797108.
This website’s DOGE prediction is that the price will reach $0.1 in March 2021.
Dogecoin Price Prediction: Verdict
This is the dogecoin prediction and analysis for March 2021. We hope this helps you to make the right decision. These predictions are optimistic, as the price of the cryptocurrency will rise in the coming month.
However, care must be taken when approaching the investment. The price is still very volatile, which means that it can fall unexpectedly even against the current predictions. That’s why you should do your own detailed research. Also, remember that only you are responsible for the outcome of your decision.
Dogecoin Adoption in the US Supercedes Bitcoin and Ethereum, According to New Crypto Survey
The adoption rate of Dogecoin (DOGE) in the US is nearly double that of the rest of the world, according to a new survey from the Australian publication Finder.
The survey polled 41,645 individuals in 22 countries and found that nearly a third of all cryptocurrency holders in the US own Dogecoin.
“Of those that own crypto, Dogecoin sees its highest adoption in the United States with 30.6% of crypto owners saying they own Dogecoin. This is 1.6 times the global average adoption rate of 19.2%.”
The Finder survey says that Cardano (ADA) enjoys the highest popularity in Australia, where more than a quarter of the country’s adult crypto holders own ADA.
“Cardano sees its peak in adoption in Australia, where 26.3% of the online population who own crypto say they have Cardano, which is 1.4 times the global average adoption rate of 18.5%.”
Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) enjoy the highest adoption rates in Asia.
More than three-quarters of Japanese crypto holders own BTC, while over half of Singaporean crypto holders possess ETH. Slightly more than a quarter of Indonesian crypto holders have BNB.
“Bitcoin has the highest adoption in Japan with 76.7% of adults who own crypto saying they own Bitcoin. This is 1.3 times the global average adoption rate of 58.9%.
Ethereum sees its highest adoption with crypto owners in Singapore with 52.4% of adults who own crypto saying they own Ethereum. This is 1.9 times the global average adoption rate of 27.4%.
Binance Coin sees its highest adoption among those who own crypto in Indonesia, with 26.9% of respondents who own crypto saying they own Binance Coin. This is 1.8 times the global average adoption rate of 15%.”
Dogecoin Price Struggling Near Vital DMA Lines, With Average Volume Activity.
- Dogecoin price is currently trading near its major moving averages of 20, 50, 100, and 200-day lines, with slightly lower volume activity.
- The digital asset is presently trying to suppress its vital DMA lines and holding its 100 and 200-day lines.
- The pair of DOGE/BTC is trading at 0.000003868 BTC with an intraday gain of +1.02%, and the ratio of DOGE/ETH is CMP at 0.0000595 ETH with a 24-hour change of -5.98%.
Dogecoin price over the monthly chart is trying to sustain above its all vital moving averages of 20, 50, 100, and 200-day lines. Meanwhile, volume activity over the chart is slightly lower and needs to grow strongly. Similarly, the sustainability above its vital DMA lines with supportive volume activity will boost more upside in upcoming trading sessions.
Once the crypto asset jumps above its vital DMA lines, supportive volume activity will create the next lap of bullish move till $0.32 to $0.36. Support on the lower side is $0.2250 and $0.1945, whereas resistance on the higher side is $0.2720 and $0.3260.
Dogecoin price is trading under the bullish chart pattern while creating higher highs and lows
Dogecoin price at the weekly chart is trading under the bullish chart pattern while creating higher highs and lows. Meanwhile, the technical parameters are slightly neutral, with a slight recovery from lower levels. Volume over the chart slightly increases and needs more growth for a continuation of the pattern. DOGE price is trading at $0.2573 with an intraday gain of +2.34%, and the volume to market cap ratio is 0.06616.
Relative Strength Index (BULLISH): Dogecoin price RSI is heading towards the overbought zone after a good recovery from the lower levels. In contrast, the coin trades on a higher note and projects slight caution with longs and RSI at 56.
Dogecoin Forecast and DOGE/USD Analysis October 21, 2021
DOGE/USD are traded at 0.2554 and continue to move within the correction and the bullish channel. Moving averages indicate a short-term bullish trend for Dogecoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 0.2425 area. Where can we expect a rebound again and a continuation of the rise in the Dogecoin rate with a potential target above the level of 0.3155.
Dogecoin Forecast and DOGE/USD Analysis October 21, 2021
In favor of the growth of the DOGE/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 0.2175 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 0.1845. With the breakdown of the resistance area and closing of quotations above the level of 0.2845, we should expect confirmation of the development of a bullish trend in Dogecoin.
Dogecoin Forecast and DOGE/USD Analysis October 21, 2021 therefore imply an attempt to correct and test the support area near the 0.2425 level. Where can we expect a rebound and continued growth in DOGE/USD to the area above the level of 0.3155. An additional signal in favor of raising Dogecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.2175 area. This will indicate a continued decline in cryptocurrency with a target below the level of 0.1845.