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The price of Dogecoin DOGE/USD regained the $0.40 level on Thursday after trading near the $0.30 level on Wednesday during the broader cryptocurrency selloff.
Now that Dogecoin is up more than 50% over the past 24 hours, many investors are wondering if now is a good time to buy Dogecoin. If you are among the large group of investors that need some help in understanding how to buy Dogecoin now, this guide is meant for you.
How & where to buy Dogecoin now
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Buying Dogecoin or any cryptocurrency requires opening an account with a cryptocurrency broker. The growth in popularity for cryptocurrencies among retail investors prompted multiple reputable brokers to expand their offerings in recent years. It has never been easier to buy Dogecoin safely and securely. in 2021
In fact, investors may be overloaded with too much choice. Our team of financial experts spent a lot of time sorting through the cryptocurrency space to determine the top two platforms to buy Dogecoin.
1. eToro
Fintech giant eToro has been providing trading access across multiple asset classes for more than 15 years. The company expanded to include cryptocurrency trading in recent years, including buying DOGE.
EToro is among the most trustworthy and reputable cryptocurrency brokers in the market in 2021. The company recently closed a deal to list its own stock on a major US exchange so using eToro to buy Dogecoin is a wise choice.
Click the link below to start buying Dogecoin on eToro:
2. Plus500
Plus500 operates as a Contract For Difference which means investors are buying a derivative of a financial product, in this case Dogecoin. The value of the derivative product will fluctuate according to the price movement of the underlying asset.
In essence, investors aren’t buying Dogecoin directly and if you are interested in merely trading DOGE for near-term gains then Plus500 is a great choice. Click the link below so you can buy Dogecoin on Plus500 now.
What happened to DOGE price?
Dogecoin hit an all-time high of nearly $0.75 in early May. The timing of the peak coincided with notable Dogecoin backer Elon Musk’s appearance on Saturday Night Live. But the price of Dogecoin fell sharply after Musk’s performance included a skit in which his character referred to DOGE as a “hustle.”
Since then, DOGE struggled to maintain any buying momentum. The price of Dogecoin rebounded off the $0.38 level on May 13 but stalled near the $0.60 level. Wednesday’s cryptocurrency selloff sent Dogecoin trading near the $0.30 level.
Buyers were in complete control of Dogecoin on Thursday, in part due to a tweet from Musk that merely reads: “How much is that Doge in the window?”. The tweet seems to have helped Dogecoin hold the $0.40 level.
Will Dogecoin rise in price?
The Dogecoin chart shows clear buying momentum over the past 24-hours and the time-tested theory “the trend is your friend” is playing out. The next major hurdle for Dogecoin is the $0.50 level and if DOGE trades above $0.50 we could see momentum accelerate.
It is too early to make the case for Dogecoin re-testing its highs and ultimately hitting the milestone $1 level. While Thursday’s trading action is encouraging, it is important to keep in mind that one day is hardly indicative of a trend.
