Dogecoin (DOGE) Price Prediction: Will We See A Retracement Today?

Dogecoin has remained at the $0.07 price level today. Although it has not recorded a massive gain, it did not lose its gains from the previous week. The meme coin experienced price fluctuations in 2023 but is still a valuable asset in crypto circles.

Dogecoin Price Action

DOGE started the year trading at $0.0702 on January 1, 2023, and rose to $0.0803 on January 12. It remained within this range before rising to $0.0902 on January 29. It declined to the $0.08 price level by February 9, 2023.

Also, Volatility drove Dogecoin’s price back to $0.0768 on March 3, and it remained within this price level. It is currently trading below the March 14 closing price of $0.0748. Its 7-day high is $0.0776, while its 30-day high is $0.09126. 

Dogecoin might return to its previous price levels of $0.08 and $0.09 if the bulls prevail.

Dogecoin Technical Analysis

DOGE is trading in an uptrend today, despite forming a red candle on the daily chart. It recorded five consecutive green days from March 10 to 14, 2023. However, Dogecoin is trading below its 50-day and 200-day Simple Moving Average (SMA), a bearish sentiment.

Also, The Relative Strength Index (RSI) is at 42.18, close to the oversold region of 30. The indicator is pointing downwards and reflecting bearish pressure on the asset today. 

But DOGE’s Moving Average Convergence/ Divergence (MACD) is slightly above the signal line, which is a bullish sentiment. Also, the histogram bar is green today, suggesting the possibility of a positive price adjustment. 

The support levels are $0.0658, $0.0687, and $0.0716; the resistance levels are $0.0777, $0.0806, and $0.0837. Doge is currently trading below its resistance levels. It will likely retrace close to the $0.0716 support before the bulls rally again.

Dogecoin Long-Term Price Prediction

Dogecoin Price Prediction 2023

Experts have given their forecasts on the Dogecoin price outlook in 2023. TradingBeasts is bullish on DOGE, expecting the memecoin to attain an average price of $0.1195 in 2023. Business2Community echoed the bullish sentiment predicting $0.6 as DOGE’s price level in 2023.

Dogecoin Price Prediction 2025

Bitcoinwisdom projects DOGE to trade at $0.2588 by 2025 if the positive trends on the network continue. However, if there is a decline, they believe it will reach a minimum price of $0.2218. Changelly forecast based on technical analysis expect DOGE to attain a minimum of $0.1999 and a maximum of $0.2499.

Meme coins are volatile and can easily deviate from predicted price action. Proper technical and fundamental analysis and risk management skills are essential for traders and investors.

What Is Dogecoin?

Dogecoin is a meme coin and an open-source digital currency. Billy Markus and Jackson Palmer are the creators of Dogecoin. It is a fork from the original Litecoin blockchain created in December 2013. 

Dogecoin enjoyed support from Elon Musk, with his tweets helping to push the asset’s price. DOGE uses Scrypt mining technology to secure its network. It has a block time of one minute, with a limitless and uncapped supply. 

Miners can participate in mining as individuals or together in a mining pool. Dogecoin is used mainly as a reward and tipping system on Reddit and Twitter to reward quality content creation. Based on its low transaction fees, some notable companies now accept Dogecoin as a mode of payment. They include Tesla, Dallas Mavericks, Twitch, and GameStop.

Dogecoins is available for trading on most of the recognized exchanges. Dogecoin was created as a lighthearted version of Bitcoin but soon gained relevance with increased adoption. Although it has lost most of its initial value, it is still a strong contender for cryptocurrencies with great potential.

Factors That Might Influence DOGE’s Price 

Several factors could influence Dogecoin’s price movement positively or negatively depending on investors’ sentiments. 

Binance Adds Dogecoin To List Of Verifiable Assets

Binance has added Dogecoin to its list of verifiable assets based on the proof-of-reserves system. It comes in response to calls from the crypto community urging Binance to establish proof of assets for Dogecoin in 2022.

Binance’s proof-of-reserves system has been updated to allow verification of user assets for 11 new tokens: MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE, now shows over 63B USD in reserves. https://t.co/kss1lpwkT5

— Wu Blockchain (@WuBlockchain) March 7, 2023

A proof of asset wallet contains real Dogecoin tokens that correspond with the supply of BSC-DOGE. This move adds to the legitimacy of Dogecoin, especially in seasons of financial chaos.

DOGE Alternatives

While Dogecoin struggles to find stability, there are exciting presales that will reward investors that act swiftly. 

RobotEra (TARO)

RobotEra is an innovative play-to-earn metaverse game that could redefine human interaction with technology. It is a robot-based gaming model where players compete as individual robots that can team up and execute activities such as rebuilding for rewards.

TARO is the token that powers this metaverse and is currently on presale. Its presale has raised over $953k, with the token’s price rising with each presale stage. RobotEra lowers the entry barrier for Metaverse-based gameplay and offers a captivating platform to enhance user experience.

C+ Charge (CCHG)

This platform aims to reduce carbon emissions and provide eco-friendly charging solutions for electric vehicle (EV) users. C+Charge is using blockchain technology to provide this solution and give users an innovative way to charge their vehicles. 

Its mobile app helps locate charging stations that accept CCHG tokens and performs health checks on vehicles to prevent sudden issues. Users receive carbon credits for every successful charge of convertible CCHG tokens.

The CCHG tokens are currently on presale and worth $0.018 each. These tokens are deflationary due to the token burn mechanism in place. After the presale stages, all unclaimed tokens will be burnt, and the asset’s price will likely increase. 

Fight Out (FGHT)

This Move-to-Earn (M2E) platform is changing the outlook of the fitness and Web3 industry. The platform comes equipped with customizable plans for different users. Professional athletes are jumping on the trend as the platform offers tips and advice on the best workout for good results.

FightOut comes with a mobile application enabling easy access for its users. There are plans to roll out physical fitness locations worldwide as the project expands and is accepted. The FGHT tokens power activities on the platform and are currently on presale.

The presale has raised over $4.7 million, and the token’s price will increase with each presale round. Also, FightOut has introduced an incentive program to reward users that possess FGHT tokens up to 67%. An additional 10% will go to airdrop rounds among existing investors on the network.