The price of Dogecoin has fallen 6% in the last 24 hours, falling to $0.082213 as the cryptocurrency market continues to recover from the latest Fed hike and the continued impact of the crash of FTX.
His latest move also means he’s down 16% in the past week and 20% in the past two weeks as his community’s hopes of a Twitter-like connection failed to materialize. However, assuming that Twitter will introduce Dogecoin-based payments or some form of integration in the near future, DOGE will rally significantly. And if the social network does not do so, it is argued that the fundamentals of the altcoin alone will be enough to raise it significantly from its current level.
Dogecoin Price Prediction – Can DOGE Reach $1 in 2023?
Looking at Dogecoin’s chart, it seems that it is currently continuing a bearish trend as recent gains give way to losses. Its strength index (yellow) has dropped from 60 at the beginning of December to below 40 today and it looks like it will continue to drop in the short term.
At the same time, DOGE’s 30-day moving average (red) has recently moved up, and it looks set to start falling to the 200-day moving average (blue). If it falls below the long-term average, it may indicate a sell-off.
As for the Dogecoin community, they continue to pay at the price of DOGE, and some hold $1 (or even more) in the near future. Such expectations seem to be almost in the opinion of Twitter, that Dogecoin supported by Elon Musk, will soon or later integrate DOGE flip.
Aside from Musk having a good track record of DOGE and hints (from April) about payments based on DOGE, there is no real evidence that Twitter actually plans to use dogecoin anytime in the future. As such, DOGE’s hopes of reaching $1 or more will remain speculative at this time.
This is largely because Dogecoin has nothing in the sky but Twitter’s ideological decision to acquire the coin. There is almost no adoption anymore, as its lack of development means that it is unlikely to attract more users and potential adopters.
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Nevertheless, a good start in 2023 for the cryptocurrency market could see DOGE post a modest profit. The fact that the market can move in a positive direction is highlighted by the fact that inflation is decreasing in different parts of the world, indicating a gradual improvement in the situation macroeconomics.
Given the improvement in economic conditions and market sentiment, it can be assumed that DOGE may return to its previous level in 2022, such as $0.14 or more.
New Altcoins Have Strong Foundations
Given how unpredictable Elon Musk can be, customers expecting a large DOGE profit may choose to look elsewhere or at least differently.
One of the best areas of diversification this year is in the first market, and some new altcoins see great profits when the market stops with new listings and exchanges. For example, the highest presale coins saw gains of over 1000% when they were first listed. Most notably, Lucky Block (LBLOCK) and Battle Infinity (IBAT) saw increases of up to 6000% and 3000% over the summer from their initial trading price of $0.00015.
The three altcoins below are expected to match those benefits. Although there is no guarantee, each of them has a strong foundation and offers a great strategy, which allows all of them to succeed once they list and launch their platform.
Fight Out (FGHT)
Running on the Ethereum blockchain, FightOut (FGHT) is a fitness app that combines real fitness with Web3. Building on the foundation of the original M2E platforms like STEPN, not only music and reward systems are designed, but all types of exercise, including boxing, weights, and yoga. It offers added to the physical class, helping users to live a more active life.
Great Bitcoin insights!