Dogecoin price It has barely risen in the last six months and is among the worst performing cryptocurrencies in 2023. The meme coin continues to decline steadily despite still getting a boost from Tesla CEO Elon Musk. The price drop causes DOGE to lose its excitement, while more important tests await. The price is currently trading at $0.06 and has been trading at the same levels for about two weeks.
Leading artificial intelligence forecasting firm ‘PricePredictions’, in July 2023 dogecoin It has drawn a bearish picture for its price. According to forecasts, the DOGE price is likely to trend sideways in the next four weeks with no profits to investors. The forecast means that DOGE could trade at $0.67428, which is only a 0.56% increase from its current price.
AI forecasting takes into account multiple technical analysis, including moving average convergence divergence (MACD), average true range (ATR), Bollinger Bands (BB), and relative strength indicator (RSI), among others.
TradingView’s general technical indicators also point to the possibility of a “sell” for Dogecoin. Therefore, this month as it follows a path of correction meme coinIt would be pointless to expect anything more than . Caution is advised before taking a DOGE entry position this month.
With this, cryptocurrency market is highly volatile and pregnant with innovations. At the time of writing, Dogecoin was trading at $0.066 and is down nearly 3% in 24-hour daily trading. DOGE also recorded a close 91% drop from its all-time high of $0.73, which it reached in May 2021.
You can follow the current price action here.