Dogecoin reaches new lows after a stable year
After a year of stability, Dogecoin dropped below a major support line $0.002. $0.002 was considered one of the major price support for Dogecoin due to Dogecoin always rebounding before touching that number. This phenomenon happened in the entire 2018 and caused many investors and traders to think Dogecoin as the new stable coin.
Dogecoin is currently trading at $0.00193. This is the first time since December 2017 Dogecoin crossed below $0.002 mark. Dogecoin’s price fell by 2.16% due to sudden cryptocurrency flash crash.
Dogecoin had a good year in 2018 with the price stabilizing between $0.00022 and $0.00025. But Dogecoin has had a rocky start this year. Dogecoin started 2019 by showing bearish trend this entire year.
Looking at Coinmarketcap charts, it can be noticed that Dogecoin is showing a complete downtrend since December 22nd, 2018. A general downtrend of the cryptocurrency markets is the major reason for Dogecoin’s performance.
But it is interesting to note, Dogecoin is still one of the most preferred cryptocurrencies to hold this bear market. Dogecoin community members think Dogecoin would rebound soon enough. According to Today’s Gazette, Dogecoin is one of the best cryptocurrency to hold this year.
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