Dogecoin Price Analysis: Dogecoin’s B-Category In FCAS Metric Is A Good Sign For The Market

Dogecoin has recently been awarded B category in the FCAS metric. FCAS is a comparative metric with factors like User Activity, Developer Behaviour, and Market Maturity. FCAS rating awards the cryptocurrencies ratings on the range of 0 to 1000. The highest category is S- Superb, and the lowest category is C- Caution. Dogecoin has been awarded 701 points based on the data of May 5^th. As far as the details are concerned, Dogecoin has got 924 in User Activity, 644 for market maturity, and 539 for developer activity. It is considered a good rating in the market. The coin has a bullish medium-term outlook. And as per Dogecoin Prediction, it seems that by the end of 2019, the value of each coin value should be 0.009 USD. Let’s now look at the current figures to understand the growth pattern.

Current Dogecoin Price Statistics-

• Dogecoin (DOGE) is ranked at 28^th position in the global crypto market.
• The ROI (Return on Investment) stands at 455.84%.
• A total of 119,573,099,205 DOGE coins are in current circulations.
• The current market cap as on 20^th May at 02:04 UTC stands at 370,528,360 USD.
• The value of each Dogecoin price stands at 0.003099 USD and 0.00000039 BTC.
• The 24h volume at the same UTC stands at 64,028,460 USD.

Comparison of Dogecoin value –

Dogecoin (DOGE) started the year with a moderate price level. The lowest point of Dogecoin was on 07^th February at 0.001 USD. The April 1^st market boom helped the coin to gain a huge edge. In a matter of 4 days, the coin gained almost 100%. The highest point of Dogecoin was on 4^th April at 0.004 USD. The market cap in 20^th April was 345,652,417 USD, and the value of each Dogecoin was 0.002901 USD and 0.00000055 BTC. The current market cap and the value of each coin in USD are respectively 7.19% and 6.82% more than the figures for last month.

Dogecoin Price Prediction-

As mentioned earlier, currently, each Dogecoin is being traded around 0.003 USD. The next resistance will be there at 0.004 and 0.005 USD. By the end of 2019, the value of each Dogecoin will reach 0.009 USD. The path until 0.009 USD will have many price variations.

Conclusion-

It is a good time to buy new Dogecoins if the plan is to hold them for a long-term. This will give a profit of at least 3 times the current value if the holding will be until the 1^st quarter of 2020.