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Traders can purchase and own Dogecoin or gain exposure to price movements through trading derivatives, like CFDs, or futures . For example, Binance now offers DOGE futures, traded alongside Tether (USDT. Tether is a stablecoin with the value equivalent of $1 per 1 USDT.

According to this technical analysis, the DOGE is likely set for an upward trend . The wait is now on news events that will trigger the bullish run, perhaps a tweet from Elon Musk.

CFDs are leveraged . This means you can go long, if you believe Dogecoin’s price will rise, or go short if you feel its price will fall. Either way, you’ll make a profit if you’re correct.

The cryptocurrency was down 5.7% over the previous 24-hour period as of 11:45 a.m. ET. With Bitcoin and Ethereum roughly flat over the previous day of trading and the broader cryptocurrency market looking uncharacteristically stable, Dogecoin’s sell-off likely stems from investors taking profits after recent gains .