DODO price overview
The current DODO price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of DODO is based on a market capitalization of EUR. DODO has a circulating supply of . The highest recorded DODO price is EUR. And the lowest recorded DODO price is EUR.
How do DODO price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance.
DODO is a decentralized exchange platform powered by a Proactive Market Maker algorithm. Developed by the DODO team, the PMM uses oracles to gather accurate market prices, providing traders with lower slippage than automated market makers. Liquidity providers have more flexibility on DODO as they can contribute any amount of a token without having to deposit it in pairs. Users also benefit from contract-fillable liquidity comparable to centralized exchanges and access to new coins through the DEX’s crowdpooling feature.
DODO is the platform’s native governance token and can be used for staking, trading fee discounts, and participating in crowdpooling. Despite being a relatively new coin, the price of DODO has already seen dramatic change and if you want to know why then you’re in the right place. We’ve compiled everything you need to get a better understanding of DODO price – as well as the factors which influence it.
DODO Price History
DODO hit the market trading at about $0.06 at the end of September 2020, following an initial DODO offering. It remained close to that price for the next three weeks, before jumping to more than $0.40 in October. The rest of the month saw a steady decline and by the end of October DODO was worth $0.25.
The bearish trajectory continued into November when DODO dipped below $0.20. A slight resurgence took prices back up to $0.32 later that month, but they then began to fall again, until reaching a low of $0.15 in December. A sudden uplift briefly took DODO to a price of $0.28 but by the end of the year, it had fallen back to $0.16.
In 2021, prices immediately rallied, as DODO surged by more than 1,000% in January to close the month at $1.77. After a pullback to $1.17 in February, it continued to soar and the growth became exponential, culminating in a peak on Feb. 19 at DODO’s all-time high of $10, representing year-to-date gains of almost 6,000%. By that point, DODO had a market cap of about $800 million.
Prices quickly crashed, dropping as low as $3.26 at the end of February. March proved to be volatile, as DODO swung between lows of $2.89 and highs of $5.15. A brief period of growth in April took prices up to $5.84 but DODO retraced 60% down to $2.33 later that month. In the first few days of May, DODO recorded its highest price for the month at $4.59. However, the rest of May proved to be fairly bearish and DODO hit a low of $0.86 after a single-day crash of 46%.
Analyzing DODO Price History
DODO price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With DODO, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell DODO coins on exchanges. This was especially true on Feb. 19, 2021, when DODO was listed on Binance and experienced a huge spike in trading volume. Listings on large exchanges like Binance make a cryptocurrency more accessible to a large number of investors, and this likely contributed to DODO surging to its all-time high that day.
Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. The project raised $5.6 million in seed and private funding with the support of well-known backers in the blockchain sector, including Binance Labs, Coinbase Ventures, Alameda Research, and Galaxy Digital. This could be a good sign for the fundamental DODO value.
Broader market trends have also played a role in the price history of DODO. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.
The overall price trend of DODO tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of DODO (DODO)
A variety of different things can affect the market price of DODO, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.
DODO has a capped max supply of 1 billion coins, making it a scarce asset like Bitcoin. The finite supply means the coin is not subject to depreciation through inflation and so may be a good store of value in the long term. Once the max supply is met, no new coins will be minted and any increase in demand for DODO would therefore increase its price.
The main driver of demand for DODO is its utility within the platform. As well as being a governance token, DODO can be staked to earn additional DODO rewards, while DODO holders benefit from trading fee discounts and allocations to participate in crowdpooling and IDO campaigns. DODO can also be used to mint vDODO, where 1 vDODO is equal to 100 DODO. vDODO holders receive dividends from trading fees and membership rewards. All of these benefits could incentivize more people to buy DODO and therefore increase its price.
Demand for the coin will likely increase with the number of protocol users. Negative events, such as the $3.8 million hack of the exchange in March 2021, could therefore depress DODO price. On the other hand, the project team plans to implement incentive programs and initiatives to ensure the continuous growth of the DODO platform and community. If successful, these activities could boost the price of DODO.
Live DODO Value and Market Cap
The market price of DODO varies from moment to moment as it’s dictated by the balance of buy and sell activity on exchanges, which is in constant flux.
Given DODO’s volatility, its current price can change by a large amount in a very short space of time. The market cap of DODO is equal to the price of DODO multiplied by the number of DODO in the circulating supply.
DODO Price FAQ
What is the highest DODO price in EUR?
DODO price history shows that DODO has recorded a peak value of EUR.
What is the lowest DODO price in EUR?
DODO price history shows that EUR EUR is the lowest recorded DODO value.
How can I buy DODO?
You can purchase DODO and over 290 different cryptocurrencies in seconds with Kriptomat, learn more about how to buy DODO. It’s available for immediate purchase at the current DODO price quote of EUR. Current prices are always displayed in the DODO chart.
What is the current DODO price in EUR?
Kriptomat data confirms that the current DODO price is EUR.
How is the price of DODO calculated?
DODO’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying DODO than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of DODO different on different cryptocurrency exchanges?
DODO’s price is based purely on trading as there is no standard global DODO price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will DODO be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future DODO value. However, demand for DODO will probably correlate with the number of DODO protocol users, and so successful incentive programs and initiatives could help boost the future price of DODO.
In the relatively short time that DODO has been on the market, its price has seen significant change, going from lows of $0.06 to highs of $10. Its journey hasn’t been smooth, however, as DODO’s volatility has led to surges and crashes along the way.
Many different factors have played a role in determining the price of DODO, including demand for the token’s various utilities, the number of people using the DODO protocol, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of DODO and cryptocurrencies!