Although most assets in the cryptocurrency market have been demonstrating strength over the past few weeks, Dogecoin (DOGE) included, some artificial intelligence (AI) algorithms do not see further progress for the famous dog-themed cryptocurrency in the coming days.
Indeed, the AI-driven algorithms deployed by the crypto sector monitoring and analytics platform CoinCodex have set the price of Dogecoin at $0.0698 for October 31, 2023, which, if correct, would mean a decline of 2.43% to its price at press time, as per data on October 27.
On the other hand, Google Bard has offered a more positive outlook for DOGE on Halloween 2023, sharing the views of some analysts who believe that Dogecoin could reach the price of $0.0775 on that date, based on the digital asset holding above the $0.055 support level.
Considering the historical context, it is worth noting that the price of DOGE during the past three Halloweens recorded variable prices. For instance, on Halloween 2020, the price of Dogecoin stood at $0.0026, only to soar a whopping 10,223% on October 31, 2021, when it reached the price of $0.2684.
However, on October 31, 2022, the price of DOGE was down 56.19% compared to Halloween the year before, as it was changing hands at the price of $0.1176. By comparison, the crypto asset’s price at the time of publication was 39.17% lower than on Halloween 2022.
DOGE price analysis
As things stand, Dogecoin was at press time trading at $0.07154, having declined by 2.02% in the last 24 hours but still clinging to solid gains of 19.95% and 17.13% on its weekly and monthly charts, respectively, according to the latest information retrieved on October 27.
As it happens, AI algorithms do not see much of a change in the price of Dogecoin in the next few days, although the analyses shared by Google Bard are slightly more optimistic. That said, it is important to do one’s own due diligence and research all assets before investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
