Dogecoin is one of the worst performing Cryptocurrency in 2023, because its price has barely risen in the past six months. Despite the firm support of Tesla CEO Elon Musk, the leading meme token is still falling steadily
Dogecoin is one of the worst performing Cryptocurrency in 2023, because its price has barely risen in the past six months. Despite the firm support of Tesla CEO Elon Musk, the leading meme token is still falling steadily. The price drop has caused DOGE to lose its hype, and its legendary promotion is now facing a touchstone. The current trading price of Dogecoin is 0.06 US dollars, and it has remained at the same level for nearly two consecutive weeks.
Will Dogecoin change its fate and bring profits to investors this month or will it fall again? In this article, we will focus on introducing the highest or lowest trading levels of DOE in the index by the end of July 2023.
Dogecoin price forecast on July 31, 2023
The leading artificial intelligence forecasting company "PricePredictions" painted a pessimistic outlook for Dogecoin in July 2023. It is estimated that the price of Dogecoin may settle sideways in the next four weeks, and will not bring any profit to investors. The forecast shows that the trading price of DOGE is $0.67428, which is only 0.56% higher than the current price.
This prediction takes into account various technical analyses, including Moving Average Convergence Divergence (MACD), Average Real Fluctuation Range (ATR), Brinell Line (BB), and Relative Strength Index (RSI).
The overall technical indicators of TradeView also indicate the call for "selling" of Dogecoin. Therefore, the expectation for this emoticon currency this month will not be too high as it is following a correction path. It is recommended to remain cautious before starting DOGE this month.
Nevertheless, the Cryptocurrency market is highly volatile and may change if new developments occur. As of press time, the trading price of Dogecoin was 0.066 US dollars, down nearly 3% in 24-hour intraday trading. DOGE has also fallen nearly 91% from its historical high of $0.73 reached in May 2021.
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