#DOGE nearly doubles price in one week (7/7/2020)

As of 10:00 am, 7/8/2020, the price was .0039 on https://finance.yahoo.com/quote/DOGE-USD/ – the price was holding steady for a while at approximately .0023 and then a sharp rise in price occurred.

Digging through the five-year history of prices reveals that June / mid-July dates trend towards price rises.

If you look at the pattern of prices before and after Dec 31, 2017 (this is when the biggest leap – from .001 to .017 – of 1,700% – happened) – you will see that the new floor ended up being significantly higher.

Does this mean that DOGE will be approaching two cents this year? Possibly.

DOGE’s strength lies in the fact that it is nowhere near a dollar in cost, meaning that people can pay each other for micro-transactions at a fraction of the cost that a traditional payment processor would charge. Converting from cryptocurrency to fiat currency, however, comes at a steep price that could be ten percent of the exchanged amount. Until those costs are brought down, cryptocurrencies’ usage will not be as popular as credit and debit card processing.

– June 8, 2020
###

Advertisements

About Amy Barnes

Author has extensive experience in Retail, including two years as a supervisor. Educated in Psychology, Financial Accounting, Criminal Justice, and Programming. Work experience in Law Enforcement, Security (IT), Programming (REALBasic, SQL, VB, JAVA), Retail.
This entry was posted in Business, Economy, Finance, Financials, News, OpEd / Misc., Politics, Tech News, Trend Watch and tagged , , , . Bookmark the permalink.

This site uses Akismet to reduce spam. Learn how your comment data is processed.