Disclaimer
Dogecoin (DOGE) has made significant progress in recent days, as it gained nearly 10% across the previous week, raising its price to nine cents. However, the positive movements have not yet rubbed off on the cryptocurrency community, which is holding on to its bearish projections on the dog meme coin.
Indeed, the aggregated votes from members of the crypto market tracking platform CoinMarketCap have set the average price of Dogecoin at $0.08744 by the end of April, taking into account the community’s historical accuracy of over 79% over the last six months, according to the latest data accessed on April 14.
Hence, if this cumulative estimation, which is the result of 1,044 member votes cast by press time, materializes, it would mean that the price of Dogecoin on April 30, 2023, would record a drop of -1.77% or -$0.001578 from its current price, which at the time of publication stood at around $0.09.
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On the other hand, Dogecoin’s technical analysis (TA) on one-day gauges over at the crypto and finance monitoring website TradingView leans heavily to the bullish side, indicating a ‘strong buy’ at 16. Specifically, this reading is the result of oscillators dwelling in the ‘buy’ zone at 2 and moving averages (MA) in the ‘strong buy’ territory at 14.
DOGE price analysis
At this time, Dogecoin is changing hands at the price of $0.089. This demonstrates an increase of 2.14% in the previous 24 hours, in addition to the 8.23% gain across the week, and an advance of 16.46% in the last month, as per the recent information retrieved by Finbold on April 14.
With its recent price activities, Dogecoin has managed to fully retrace the losses caused by Tesla (NASDAQ: TSLA) and Twitter (NYSE: TWTR) CEO Elon Musk taking down the DOGE logo from Twitter, days after the hype around its introduction significantly propped up the coin’s price, leading to accusations of intentional pumping to settle debts after purchasing the social media network.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
