Dogecoin, the OG memecoin, has become one of the most popular and profitable cryptocurrencies in the world. Its rise has been nothing short of extraordinary, capturing the imagination of both new and seasoned crypto enthusiasts. The potential for profit in trading Dogecoin is huge, especially if you know how to track its price in real time and sell when the market is in your favour.
In the fast-moving world of crypto, timing is everything. That’s why it’s crucial to keep an eye on the real-time prices of Dogecoin. This way, you can make informed decisions and sell at the right moment to maximise your profits.
Ready to equip yourself with the skills and knowledge? Let’s go!
Understanding Dogecoin Price Movements
What Influences Dogecoin Price?
Like all cryptocurrencies, Dogecoin’s price is influenced by various factors. Market trends play a significant role —if the overall crypto market is booming, Dogecoin often follows suit. News and social media can also have a big impact.
For example, a tweet from a well-known figure or a viral video can send Dogecoin prices soaring or crashing in a matter of minutes. Additionally, global economic events, such as changes in regulations or major financial news, can affect investor confidence and, consequently, Dogecoin’s price.
Volatility in Crypto Markets
Cryptocurrencies are known for their volatility, and Dogecoin is no exception. Prices can swing dramatically within hours or even minutes.
This volatility creates opportunities for profit, but it also means there’s a risk of losing money if you don’t know what you’re doing. By understanding these price movements and what influences them, you can better navigate the ups and downs of the market.
Tools to Track Dogecoin Price in Real-Time
To make informed trading decisions, you need the right tools. Here are some popular real-time price-tracking tools that can help you keep a close eye on Dogecoin:
1. CoinMarketCap
CoinMarketCap is a favourite among crypto traders for a reason. It provides real-time updates on the prices of thousands of cryptocurrencies, including Dogecoin. You can see historical data, track market trends, and even set up price alerts. It’s a comprehensive tool that’s easy to use, making it ideal for both beginners and seasoned traders.
2. CoinGecko
CoinGecko is another excellent tool for tracking Dogecoin prices. It offers a unique feature that shows the community’s sentiment about a particular coin, which can help you gauge market sentiment
3. Crypto.com App
If you prefer using an app, the Crypto.com app is a great choice. It’s user-friendly and provides real-time data on Dogecoin and many other cryptocurrencies. You can also set up price alerts to notify you when Dogecoin reaches a certain price, ensuring you never miss a trading opportunity.
4. TradingView
For those interested in advanced charting features and technical analysis tools, TradingView is the way to go. It offers customizable charts and a wide range of technical indicators that can help you analyse price trends and make more informed trading decisions.
When to Sell Dogecoin for Maximum Profit
Knowing when to sell Dogecoin is key to maximising your profits. Here are some strategies to help you decide when it’s the right time to sell:
1. Identifying the Right Time to Sell
Understanding market trends and technical indicators can give you an edge. Look for patterns in price movements and consider factors such as trading volume and market sentiment.
2. Avoiding Emotional Trading
It’s easy to get caught up in the excitement of the market, but emotional trading can lead to poor decisions. Avoid making impulsive trades based on FOMO (Fear of Missing Out) or panic selling when prices drop. Instead, rely on data and analysis to guide your decisions.
3. Using Technical Analysis
Technical analysis involves using historical price data and indicators to predict future price movements. Two popular indicators are the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD).
Top Platform for Selling Dogecoin in Nigeria: Breet
Breet is an excellent platform for selling Dogecoin in Nigeria. It stands out for several reasons:
- Security: Breet takes security seriously, employing robust measures to protect your funds.
- Local Bank Transfers: It supports seamless local bank transfers, making it easy to withdraw your funds.
- User-Friendly Interface: The platform is designed with users in mind, making it easy to navigate and trade.
- Quick Transaction Time: Transactions are processed quickly, allowing you to sell your Dogecoin and receive your funds without delay.
- Zero Trading Fees: Breet does not charge trading fees, which means more profits in your pocket.
Step-by-Step Guide to Selling Dogecoin on the Best Platform
Ready to convert your Dogecoin to Naira on Breet? Here’s a step-by-step guide to help you get started:
1. Creating an Account
Download the Breet app from your app stores (Android or iOS) or register directly on Breet web app. To ensure the security of your account, you’ll need to go through a simple registration process and complete KYC (Know Your Customer) verification.
2. Initiating your Dogecoin transaction
Once your account is set up, you’ll need to deposit your Dogecoin to sell for cash (Naira or Cedis). To do this, go to your Breet app, go to “Crypto-to-Cash”, select Dogecoin, and copy your wallet address or scan the QR code to extract it.
Note: The Breet app offers some of the most competitive rates in the market. To see the rate to sell your DOGE, use its built-in rate calculator.
3. Selling your Dogecoin
Once you send your DOGE from the external wallet, you don’t have to do anything else. Breet will identify the incoming transaction, process it, and give you an estimated time while the transaction is confirmed on the blockchain.
4. Withdrawing Funds to a Nigerian Bank Account
After the confirmation time, your DOGE has been sold! You can now initiate a withdrawal directly into your account. To automate this process, turn on the Automatic Settlement feature to have your funds automatically sent to your bank account.
Conclusion
Tracking Dogecoin prices in real-time and knowing when to sell are essential skills for any crypto trader. With the right tools and strategies, you can maximise your profits and enjoy the exciting world of Dogecoin trading.
Breet provides a secure, user-friendly platform for Nigerians to trade Dogecoin with ease, offering features like zero trading fees and quick transaction times.
So, what are you waiting for? Start tracking Dogecoin prices today, and use Breet to sell high and cash in on your profits!
