The cryptocurrency market certainly has seasons. While some are rather quiet, a few others cause chaos or bring in massive gains. Navigating through these volatile winds of the ecosystem can be challenging. For instance, most assets were seen recording an uptrend during the past 24 hours. Amidst this, the OG meme cryptocurrency Dogecoin (DOGE) was declining. Despite its notable rise during the past week, the asset was lagging. Looking at similar patterns, industry experts revealed if its the right time to pocket DOGE.
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A Peek At Dogecoin’s Current Price
At the time of writing, Dogecoin was trading at $0.1600. This comes after a 2.30% decline in its price over the past 24 hours. Just earlier today, the meme coin was priced at a high of $0.1666 before plummeting to a low of $0.1577.
The meme coin is currently 78% below its all-time high. Dogecoin reached a peak of $0.7376 about four years ago. The asset has struggled to reclaim this high. When a cryptocurrency is dropping, the general notion of the market is to buy the dip. But the real question is if this applies to the DOGE market.
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Buy, Sell, or Hold?
Finder, a prominent firm, released research highlighting if now is the time to make big purchases. Investors are often confused about when to buy, hold or sell. Shedding light on the same, a panel of 26 cryptocurrency experts shared insights. With 43% stating hold, 35% stating purchase, and 22% stating sell, the panel is divided on whether it is time to buy DOGE, sell, or hang onto DOGE.
Speaking about what could drive the price of Dogecoin, Josh Fraser, the co-founder of Origin Protocol said,
“Dogecoin will inevitably track Bitcoin’s success. While it doesn’t offer significant technical advantages over other blockchain investments, its community-driven ethos and inclusivity give it strength.“
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