Although the meme cryptocurrency Dogecoin (DOGE) is recording losses on multiple charts, its community still holds a bullish attitude and expects the digital asset to conclude the third month of 2023 with a significant increase to its current price.
Specifically, according to the accumulated results of 790 votes cast by the members of the crypto monitoring platform CoinMarketCap by press time, Dogecoin is projected to reach the average price of $0.0858 by March 31, as per data retrieved on March 16.
If the community’s predictions come true, this would represent an increase of 20.62% or +$0.01467 to its current price, as DOGE was seen changing hands at the price of $0.07113, according to the recent information accessed by Finbold.
It should also be noted that the projections of the crypto community for Dogecoin over the last six months have had a historical accuracy of 78.72%, making them a reasonable alternative to the price estimates made by the artificial intelligence (AI) platforms.
Dogecoin technical analysis
That said, the sentiment regarding Dogecoin, based on its technical analysis (TA) on the one-day gauges over at the finance tracking website TradingView is largely bearish, aligning with the ‘sell’ emotion at 13. This is the summarized result of moving averages (MA) hanging in the ‘strong sell’ area at 13, while oscillators are pointing to ‘buy’ at 2.
As things stand, the price of DOGE currently trades at the price of $0.07113, recording a decline of 3.08% in the last 24 hours, in addition to dropping 0.28% in the previous week and 13.73% over the past 30 days, as recent charts indicate.
Whether Dogecoin manages to meet the expectations of its community will depend on various factors surrounding it, such as crypto trading platform Binance adding DOGE to verifiable assets, as well as the situation on the wider crypto industry and macroeconomic plan.
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