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    Eugene Chum

    Orbuculum: Hoge Finance Price Prediction for Q4 2021

    Hoge Finance Price Prediction

    In this article, we are going to analyze the HOGE coin price of the token of the Hoge Finance project and produce a medium-term Hoge Finance price prediction. HOGE is an ERC-20 token with certain conspicuous attributes. It has been developed as a medium for the store and exchange of value. HOGE has been initially minted in its totality of tokens, so there will never be more new HOGE tokens. 

    Hoge Finance was launched on 7 February 2021 and has not yet gained a lot of traction. Unfortunately, there are very few charts of the HOGE price, which seriously hinders the technical analysis of the HOGE coin price. Therefore, we will be primarily relying on the news, facts, and fundamentals behind the project to make an assumption on where the HOGE price might be towards the end of 2021.

    What is HOGE Finance?

    The name of HOGE coin immediately sparks up an association with Dogecoin and rightly so. The project was initially branded as Hoge coin, which makes the analogy all the more apparent. And the word ‘finance’ that later appeared in the project’s name suggests that it is more associated with the DeFi market.

    However, HOGE Finance is not purely about a meme. It has several technological distinctions from Dogecoin and many other digital tokens. HOGE has been issued by an ERC-20 smart contract while Dogecoin is a blockchain of its own.

    The principal one is in the HOGE supply being naturally reduced over time via certain mechanisms written into its smart contract: 1% from the value of each transaction will be subtracted from the total supply, and an additional 1% of the value of each transaction will be distributed among all HOGE holders. This means that it is in the interest of all who have HOGE to attract new users into the network so the number of transactions grows and more HOGE are being distributed among the holders.

    Despite its built-in revaluation system, HOGE primarily comes across as a meme currency obviously associated with Dogecoin, which is viewed as the king of meme cryptocurrencies. 

    An Overview of Hoge Price Development 

    Hoge Finance followed the ‘fair launch’ model at its start, meaning that there was no distribution to the team and everyone including the team could buy the coin right after the launch. Another distinctive feature of Hoge Finance is a lack of developer wallet that means the smart contract of the project cannot be changed. This increases trust in projects because the developers cannot meddle with the users’ funds.

    And all these factors and features put together provided for instant interest in Hoge Finance and a loyal community forming and growing around the project. 

    The HOGE coin got a liquidity pool on Uniswap in March 2021 and rose almost instantly to $0.0007 as per CoinGecko, recording a high in the coin’s valuation. But that was quickly followed by a typical downside retracement that took the HOGE coin price below $0.0002 in April. 

    Hoge Finance Price Prediction

    HOGE/USD on chart on CoinGecko

    Later on, in May 2021, the price of the HOGE coin started going up and eventually rose above $0.0007 once again. 

    The Hoge Finance team did not rest on its laurels and quickly complimented the notable start with a new venture. The project made an offer to the famous Italian art curator Francesco Bonami to make an NFT series ‘Life Is Simple’; the news about it came through on 24 May. And the Hoge Finance team represented by its member Hogefather recorded a very interesting interview with Francesco.

    Later on, in September 2021, Hoge Finance struck a partnership with DeFi Angels – an investment pool focusing on Decentralised Finance and providing its members with opportunities to invest in DeFi projects at early stages.

    Thus, it will be fair to say that the Hoge Finance team has done a good job promoting and developing its project in the first month of its existence.

    HOGE Finance Price Prediction

    On 19 October, HOGE reached the price of $0.0002, with the resistance being at 0.00021. Given the bullish state of the cryptocurrency market in general and the peak values of the Hoge Finance price above $0.0008, it is reasonable to assume that the price of HOGE has substantial growth potential.

    Also, given the price level, Hoge is currently at and its market capitalization being just under $100 million, long orders should be the best mid-term strategy. 

    Hoge Finance Price Prediction

    HOGE/USD on a 180-day-long chart, CoinGecko

    Speaking of particulars, we can say that there is a resistance level at $0.00021; therefore, it should be reasonable to buy at around $0.00008, where an area of support is. 

    Given that the market capitalization of Hoge Finance reached its highest of $297 million on 15 May, with the HOGE price value being at $0.0007, this current ATH should be taken with a grain of salt in terms of its motive potential. Even though it presents a certain barrier for the HOGE price moving up, it is not a very considerable one; thus, we can reasonably expect the HOGE price to reach $0.0012, which is the number near which a potential 1.682 Fibonacci retracement on a daily HOGE/USD chart would have been.

    If the value of Hoge Finance goes substantially up, there will most likely be more listings of the token, and it will be easier to conduct technical analysis on the coin.

    Thus far, the $0.00008 price level is a decent entry point, with taking profits being set at $0.0007 and $0.0012. By the end of the fourth quarter of 2021, these numbers will likely be reached, which might certainly be far from the project’s full financial potential until the end of 2021.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.