DOGE/USDT (Buy) | S6T4 - Team Trading Post for Fredquantum-Kouba01 Traders Team.
Dogecoin is a cryptocurrency that was created as a joke. It was the brainchild of Billy Markus and Jackson Palmer, two IBM software engineers. It was launched in 2013 as a blockchain internet meme coin for crypto aficionados. This coin is an altcoin that originated from a meme. The currency was created for no purpose other than to be a speculative joke on the blockchain.
The doge coin was created as a joke and a parody of the popular cryptocurrency Bitcoin.
It gained a lot of popularity among crypto enthusiasts who wanted to have some fun with some coins. It has grown in popularity to the point where certain platforms, such as Reddot, have begun paying users who generate high-quality content with dogecoin. Crypto fans collected funds for this project after the coin's successful introduction.
Then, in early 2014, this coin grew in value at a breakneck pace, surpassing even Bitcoin's trading volume. Unlike certain cryptocurrencies, such as bitcoin, which were designed to be scarce, dogecoin was generated in large quantities, to the point that many crypto aficionados own it. Every minute, roughly 10,000 dogecoins are produced, and the coin is meant to have no maximum supply.
Around April 2021, the price of dogecoin began to soar as word of notable people in the crypto community began to spread on social media about their appreciation for this meme token.
Image Screenshot From Coinmarketcap
DOGE token is currently ranked 12th on coinmarketcap, with a price of $0.1347 and a market capitalization of $17,873,819,531. DOGE has a circulating supply of 132,670,764,300 DOGE, a 24 trading volume of $1,197,163,779.
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The DOGE token reached an all-time high (ATH) of $0.7376 last year on May 08, 2021 (a year ago) and an all-time low of $0.00008547 on May 07, 2015 (7 years ago)
The DOGE token may be traded on a number of exchanges, which are mentioned below.
• Binance • Coinbase Exchange • Huobi Global • KuCoin • Gate.io • Gemini • Kraken • Bittrex etc..
The period for the DOGE/USDT trading pair is 3 minutes. The price was initially in a downward trend before reversing. I created a sloppy support line, as shown in the figure below. When the price reaches the support line, it rebounds back and continues to make new highs and reduced lows.
I also loaded the KDJ indicator to corroborate my predictions. The K line crosses the blue and yellow lines and moves above the other lines, as seen in the illustration below. This is evidence of a probable upward trend. As a result, I made my entry with good risk management in consideration.
Entry: $0.1347
Take profit: $0.1366
Stop loss: $0.1340
Buy
Price: 0.1347(USDT)
Filled: 132(DOGE)
Fee: 0.132(DOGE)
Total: 17.7804(USDT)
A sell position was executed after the price hit the my take profit. I made a profit of $0.1142
Price: 0.1366 (USDT)
Filled: 131 (DOGE)
Fee: 0.0178946 (USDT)
Total: 17.8946 (USDT)
Profit: 0.1142
I have no intention of keeping the token for very long. This is due to the fact that the asset is now bearish. When the price reaches my take profit, the purchase will just buy it and sell it.
For the time being, I would advise people to hold on. Traders should keep an eye out for the opportunity to sell this token because the asset is extremely bearish.
You might also acquire the dips and wait for it to rise before selling. I believe this is the best you can accomplish using DOGE. Find the lowest prices within a week or month, then buy and sell for a profit.
This token isn't useful in any way. It's based on a joke, so don't count on it to be a good investment. You may profit from it if you use it wisely. Also, DOGE's driving force, Elon Musk, hasn't tweeted about it in a long time. Most individuals appear to have lost interest as well, so I'd advise being cautious.
Thank you professor @fredquantum and @kouba01 for the opportunity.
