While Dogecoin (DOGE) has gone down with the rest of the cryptocurrency market in the past month, the crypto community might take heart from an artificial intelligence (AI) forecast that suggests the meme coin’s price may turn positive before the end of the year.
According to the data obtained by Finbold on March 7 from CoinCodex’s machine self-learning platform, Dogecoin is anticipated to be trading at the price of $0.097 on December 31, 2023, which would represent a gain of 76.2% over its current price.
A little over a month before the end of the year forecast, on February 10, 2024, DOGE is anticipated to trade as high as $0.89.
DOGE price analysis
At the time of publication, DOGE was trading at $0.07, recording an increase of 0.09% on the day, 8.4% across the previous week. However, the coin has managed to accumulate a steady increase of 94% since the year’s turn and finds itself ranked inside the top 10 coins by market capitalization.
Dogecoin has support levels of $ 0.073829, $ 0.072847, and the strongest at $ 0.072204. Similarly, the meme coins resistance levels are at $ 0.075454, $ 0.076098, and $ 0.077080. While 92,000 addresses are holding 13.1 billion DOGE at the resistance area – bought at the average price of $0.086.
In terms of its technical analysis (TA) on one-day gauges at finance and cryptocurrency tracking platform TradingView, the sentiment for DOGE is bearish, suggesting ‘sell’ at 15, as summarized from oscillators being in the ‘neutral’ zone at 8, and moving averages (MA) indicating ‘strong sell’ at 13.
Positive news surrounding the Dogecoin, such as the recent statement made by the Web3 domain supplier Unstoppable Domains that it would be introducing DOGE as a payment option for its domain sales, is an example of one of the causes that might boost the price of cryptocurrency closer to the level of resistance.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
