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Dogecoin Price Prediction as DOGE Surges 13% in a Week – Here’s Where DOGE Heads Now


Dogecoin Price Prediction as DOGE Surges 13% in a Week – Here’s Where DOGE Heads Now

Source: Trading View

Dogecoin price is up 6% in the past 24 hours, with its jump to $0.075820 today also representing a 13% gain in one week.

DOGE’s rise comes as the cryptocurrency market as a whole has risen 4% over the past day, with investor sentiment likely supported by measures taken in the United States to stabilize the financial situation of DOGE. the First Republic Bank, which had faced potential collapse.

The current price of Dogecoin also means that, despite losing 10% last month, it has appreciated by around 7.5% since the start of the year.

Its gains this week provide it with a solid foundation for further growth in the coming months, and with Dogecoin supporters still waiting for some sort of Twitter integration, 2023 could end up being a very positive year for the meme token.

Dogecoin Price Prediction as DOGE Surges 13% in a Week – Here’s Where DOGE Heads Now

DOGE indicators are in a position where a major rally could be coming.

For example, as shown in the chart below, the relative strength index of the coin (purple) has fallen from near 20 (oversold) a few days ago to near 50, and it looks like it will continue to grow in the coming days.

Source: Trading View

Additionally, its 30-day moving average (red) has fallen below its 200-day average (blue), implying that it will soon be due for another push above the longer-term average.

And with DOGE now recovering from Tuesday and Wednesday’s losses, it really looks like the conditions are ripe for a nice upside correction.

Part of the reason DOGE went down midweek is that researchers at cybersecurity firm Halborn had discovered a zero-day vulnerability in the code of Dogecoin, as well as that of more than 280 networks.

This vulnerability allowed malicious actors to attack nodes and take them offline.

And while the Dogecoin developers had already fixed the bug before Halborn disclosed it (Monday, March 13), DOGE still fell in response.

It is only recovering now, and for some it probably remains a massively undervalued token.

That’s largely because there remains a real possibility that Twitter will introduce DOGE payments in some form at some point in the future.

The fact that there’s a real chance this is backed up by clues Musk has dropped since he first offered to buy the social network.

On top of that, reports from January revealed that Twitter had accelerated its plans to introduce digital payments to its platform.

While fiat-based payments would likely come first, sources within the company said cryptocurrency options would be added somewhere down the line.

So given how strongly Musk continues to support Dogecoin, there’s no doubt that if crypto payment options were introduced on Twitter, they would include DOGE.

Needless to say, the introduction of DOGE payments on Twitter would be massive for the token meme, with its price likely rising in response.

Investors could expect it to hit levels it hasn’t seen in over a year, with its all-time high of $0.731578 potentially in sight if the broader market breaks into territory. more bullish.

For now, the average analyst forecast points to a year-end price for DOGE of around $0.10, which is a 32.8% increase from its current price.

Of course, DOGE could finish even higher by the end of the year, with this month’s data suggests whales are buying millions from DOGE and withdraw their assets from stock exchanges.

At the same time, he continues to see new exchange announcementsas well as a constant number of active wallet addresses.

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Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.