DOGEUSD ANALYSIS !!!
This is my analysis on dogecoin.... as we know the USD has been on a strong downtrend . When a countries domestic currency depreciates in value or loses interest(%) this affects the currency in a negative way.
Due to the economic stimulus payments the US dollar has suffered 'inflation' ; a term used to describe the imbalance of supply and demand for a nations domestic currency, inflation happens when currency circulation increases , decreasing the demand for that currency.
As there are many things that affect US Dollar health inflation plays a HUGE role in the delicate balance of supply and demand.
When investors see that their paper assets (CD's , Bond Certificates, Mutual funds etc.) decrease in value, they tend to look to alternative and more ATTRACTIVE appreciating assets
Alternative assets are used as a hedge against inflation, although the Dogecoin Cryptocurrency is NOT considered a hedge against inflation, it tend to move the opposite direction from the US DOLLAR
because of this phenomenon I'm seeing a LONGTERM BULLISH TREND for DOGECOIN!!!!
If you have ANY questions feel free to ask!!!
AFTER THE PULLBACK TO .50 AND A BREAK INTO THE .60 YOU ARE GOOD TO ENTER FOR A PUMP UP TO 1.10 CENT AFTER THAT ITS BREAKING OUT LONG TERM!!!
Due to the economic stimulus payments the US dollar has suffered 'inflation' ; a term used to describe the imbalance of supply and demand for a nations domestic currency, inflation happens when currency circulation increases , decreasing the demand for that currency.
As there are many things that affect US Dollar health inflation plays a HUGE role in the delicate balance of supply and demand.
When investors see that their paper assets (CD's , Bond Certificates, Mutual funds etc.) decrease in value, they tend to look to alternative and more ATTRACTIVE appreciating assets
Alternative assets are used as a hedge against inflation, although the Dogecoin Cryptocurrency is NOT considered a hedge against inflation, it tend to move the opposite direction from the US DOLLAR
because of this phenomenon I'm seeing a LONGTERM BULLISH TREND for DOGECOIN!!!!
If you have ANY questions feel free to ask!!!
AFTER THE PULLBACK TO .50 AND A BREAK INTO THE .60 YOU ARE GOOD TO ENTER FOR A PUMP UP TO 1.10 CENT AFTER THAT ITS BREAKING OUT LONG TERM!!!
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