- Dogecoin price prediction showcases the DOGE to Moon plan of multi billionaire Elon Musk.
- Dogecoin price might reach the moon, suggests some reports as Musk showcased the DOGE’s potential recently, says analysts.
- DOGE crypto is trying to remain at the 20, 50, 100 and 200-days Daily Moving Average.
Dogecoin price prediction showcases the Elon Musk plan for Dogecoin to moon as DOGE might recover with a strong rally, suggests reports. Dogecoin price needs to break out from certain levels to reach the $1 recovery price.
With the strong backing by Elon Musk Dogecoin price might retain its dignity and its position as the trustable cryptocurrency and not the memecoin. DOGE crypto might recover and reach the $1 recovery level if it follows the plan of the super genius Elon Musk, CEO of Tesla.
According to analysts, Elon Musk, the multi billionaire CEO of Tesla, has given DOGE a lot of support, which might help the cryptocurrency reach previously unheard-of heights. Analysts predict that Dogecoin’s price will rise in 2023 and reach $1 by the middle of the year. Elon may help the price of the cryptocurrency advance to a rebound and regain its peak level in 2023 as seen by the recent usage of the Twitter logo as Dogecoin the cryptocurrency.
Dogecoin price was at $0.08277 and has lost 1.69% of its market capitalization during the day’s trading session. However, trading volume has increased by 22.28% during the intraday trading session. This demonstrates that buyers are still present in the trade to push the Dogecoin price. Volume to market cap ratio was at 0.05504.
Will Dogecoin Price Reach $1?
The downward trend of the DOGE cryptocurrency over the charts is depicted by the Dogecoin price prediction. The dogecoin price estimate for 2023 confirms the statistics indicating that DOGE cryptocurrency will have its greatest comeback in 2023. In the middle of 2023, when Dogecoin’s price reaches the $0.25 level, analysts anticipate that it will begin its rebound surge.
On the charts, technical indicators show that Dogecoin’s impetus is waning. The relative strength indicator shows a decline in the value of the DOGE cryptocurrency. The RSI is about to cross neutrality with a reading of 52.
The MACD indicator displays the Dogecoin price’s declining velocity. A negative crossover between the MACD line and the signal line is about to occur. Investors in DOGE must hold off until the price of the cryptocurrency holds and moves past the initial resistance level of $0.10075.
Summary
Dogecoin price prediction showcases the Elon Musk plan for Dogecoin to moon as DOGE might recover with a strong rally, suggests reports. DOGE crypto might recover and reach the $1 recovery level if it follows the plan of the super genius Elon Musk, CEO of Tesla. In the middle of 2023, when Dogecoin’s price reaches the $0.25 level, analysts anticipate that it will begin its rebound surge. On the charts, technical indicators show that Dogecoin’s impetus is waning. Investors in DOGE must hold off until the price of the cryptocurrency holds and moves past the initial resistance level of $0.10075.
Technical Levels-
Resistance level- $0.086 and $0.100
Support level- $0.080 and $0.078
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/04/12/dogecoin-price-prediction-the-musk-plan-for-doge-to-moon/