Too Late to Buy DOGE? See Where Experts Think It’s Heading Now!

• Dogecoin (DOGE) was last up around 3% in the last 24 hours, as per data from CoinGecko.
• Dogecoin is rallying in tandem with a Bitcoin-led move higher in broader cryptocurrency prices.
• Analysts and traders will be monitoring the release of key US inflation, retail sales and consumer sentiment data this week to assess how it impacts the outlook for US economic growth and the Fed’s policy direction.

Dogecoin Price Update

Dogecoin (DOGE), the cryptocurrency that powers the decentralized, payments-focused, dog meme-inspired Dogecoin blockchain, was last up around 3% in the last 24 hours, as per data from CoinGecko. DOGE was last changing hands around $0.085, up around 5.5% from last week’s lows in the $0.08 area, with the cryptocurrency having seen a solid bounce from its 100 and 200-Day Moving Averages, both of which are currently around $0.081.

Macro Factors Impacting Crypto Prices

Dogecoin is rallying in tandem with a Bitcoin-led move higher in broader cryptocurrency prices, which comes ahead of a very busy week on the US macro front. Analysts and traders will be monitoring the release of key US inflation, retail sales and consumer sentiment data, as well as the FOMC minutes this week, and assessing how this data impacts the outlook for US economic growth and the Fed’s policy direction. Positive moves in crypto markets imply that markets are taking the view that easier financial conditions are incoming, with inflation expected to moderate substantially this week (on a YoY basis).

Dogecoin’s Recent Volatility

Though Dogecoin is currently about 20% below its earlier monthly highs in the $0.10 area, it appears to be in an uptrend going all the way back to early March—finding support at its 100 and 200DMAs further confirming this uptrend remains valid short-term at least. This implies that Dogecoin is likely to push upwards towards top of its range between $0.06-$0.10/11 seen since last December 2020..

Investment Considerations

Asking whether it is “too late” to buy an asset is never a good way to think about market investment decisions; investors should instead consider factors like price outlook and risk reward when deciding whether or not to allocate funds into DOGE or any other asset class for that matter.

Conclusion

In conclusion; if an investor thinks that Dogecoin has positive medium-to long term prospects then they should consider allocating a proportion of their portfolio accordingly—even if current price levels have already seen some appreciation recently given DOGE’s recent volatility swings over past few weeks alone

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