Disclaimer
Although the atmosphere in the cryptocurrency landscape has not been very favorable over recent weeks, the crypto community remains bullish on many digital assets, including Dogecoin (DOGE), for which it predicts an increase in price by the end of June.
Specifically, the aggregated results of member votes over at the cryptocurrency analytics platform CoinMarketCap have suggested that Dogecoin would grow its value by +33.34% or +$0.02064 by June 30, 2023. In other words, it would trade at an average price of $0.08256, according to the information seen on June 19.
Specifically, the above price is the result of 427 members casting their expectations of the possible future price of the meme dog cryptocurrency by the time of publication.
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It is also important to note that the average historical accuracy of the community’s predictions for the past six currently stands at 83.4%, making them a solid alternative to other price projection tools, even those offered by artificial intelligence (AI) platforms.
DOGE price analysis
As things stand, Dogecoin was at press time changing hands at the price of $0.06191, recording a loss of 0.36% in the last 24 hours and 15.65% across the previous 30 days but still a 0.93% gain on its weekly chart, as per data on June 19.
At the same time, the DOGE 1-day technical analysis (TA) gauges over at the finance and crypto monitoring platform TradingView indicate a strong bearish sentiment, suggesting a ‘strong sell’ at 15 as summarized from oscillators pointing at a ‘sell’ at 2 and moving averages (MA) in the ‘strong sell’ zone at 13.
Meanwhile, it is worth noting that the price of Dogecoin has often reacted to the tweets of one of its most avid fans, Elon Musk, which has led to accusations of pumping its price for financial gain. Subsequently, the allegations rounded off with a class-action lawsuit.
As a matter of fact, Tesla (NASDAQ: TSLA) and Twitter (NYSE: TWTR) CEO has denied owning the Dogecoin crypto wallets used in the alleged $95 million-worth pump and dump scheme that the plaintiffs are accusing him of, according to the New York Post report from June 15.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
