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Dogecoin is among the top cryptocurrencies in the industry. The coin’s popularity stems from the interest of the world’s richest man, Elon Musk.
As of the time of writing today, June 27, 2023, Dogecoin is currently in the 8th position among top cryptocurrencies in the industry by CoinmarketCap’s ranking.
However, DOGEs might be influenced by the crypto market’s bearish moves today following BTC’s slight dips. The asset price shows some dips after the boost that followed the recent BlackRock and Fidelity Interest in Bitcoin spot ETF.
Dogecoin Market Price Behavior Following SEC’s Lawsuits
The Dogecoin was trading on the support level of $0.06920, trying to reclaim its bullish trend before the SEC’s lawsuits against Binance and Coinbase Global Inc. Note, between June 5 and June 6, 2023, the SEC filed lawsuits against these globally recognized crypto exchange platforms, Binance and Coinbase.
SEC accused them of offering unregistered securities and clearing and broker services without registering with the commission as the United States law requires for securities.
As such, DOGE experienced a sharp drop in market price on June 5, 2023, closing at $0.06657 against its closing price of $0.07247 on June 4, 2023. On June 6, the bulls tried to take over the market, opening the price at $0.06657 and later closing at $0.07037.
As of June 7, 2023, the bulls could not maintain their bullish grip on the Dogecoin market price, as it closed at $0.06730, probably because of investors’ sentiment on the SEC lawsuit against Binance and Coinbase.
Dogecoin traded within $0.06715 and $0.07092 price levels between June 8 and June 9, 2023. As of June 10, 2023, the bears further pulled down the market price, reaching its lowest price within the period at $0.05854.
Since then, the market price of Dogecoin dived into the bearish pool, trading with insignificant price changes as it closed at $0.06159, $0.06146, and $0.06172 on June 11, June 12 and June 13, 2023, respectively.
The bears still held the selling pressure of the market price as of June 14, 2023, pushing Dogecoin’s market price to $0.06039. From June 15 to June 20, 2023, the bullish trend recovery movement started as they took over the market control, making the Dogecoin price slightly stable.
Dogecoin Market Price Behavior Following Bitcoin Spot ETF Application
BlackRock and Fidelity Investments, two notable asset managing companies, showed interest in acquiring a license for Bitcoin spot ETF from SEC.
The filing caused the recent Bitcoin bull run that occurred on June 20, 2023, pushing the BTC price to $28,315 from $26,842.
Dogecoin recorded a significant price gain as it closed at $0.06570 on June 21, 2023, possibly because of investors’ sentiment as the news on Bitcoin spot ETF spread.
Since then, between June 22 and today, June 27, 2023, Dogecoin has been trading above the $0.06304 price level but below the $0.06967 price level. As of today, June 27, 2023, Dogecoin is currently trading at $0.06540 as of the time of writing.
Dogecoin Likely to Reclaim Bullish Trend
Dogecoin’s technical analysis on a renowned trading analytics platform, TradingView, showed the likelihood of Dogecoin reclaiming its bullish trend.
The coin is trading slightly below its 50-Day and 200-Day Simple Moving Average (SMA); this shows that the bulls are attempting to raise the market price and could enter the bullish trend in the short term.
Dogecoin has its Moving Average Convergence/ Divergence (MACD) above the signal line. This implies that Dogecoin has a chance to enter a bullish trend in a short time.
Furthermore, Dogecoin has its Relative Strength Index (RSI) trading at 47.43 and upward toward the overbought zone from the oversold zone. This consolidates the signals from other indicators showing the tendency of Dogecoin to reclaim its bull run.
Experts’ Market Price Prediction For Dogecoin
According to Changelly, Dogecoin could reach the market price of $0.066898 by June 28, 2023, and has the following Dogecoin price predictions. By 2023, Dogecoin will have an average price of $0.0829917, a minimum price of $0.079992, and a maximum price of $0.089991.
By 2024, Dogecoin’s average, minimum, and maximum market prices will be around $0.119988, $0.119988, and $0.139986.
Changelly further predicted that by 2025, the average, minimum, and maximum market prices of Dogecoin will be around $0.169983, $0.169983, and $0.19998, respectively. According to CryptoNewsZ, the market price of Dogecoin is predicted to be hitting a new benchmark. By 2023, the minimum and maximum market prices will be around $0.074 and $0.18.
It further predicted that by 2025, Dogecoin’s minimum and maximum market prices to be around $0.25 and $0.39. By 2030, Dogecoin’s minimum and maximum market prices to be around $0.57 and $0.82.
According to CoinPriceForecast, Dogecoin’s market prices prediction for 2023 for the mid-year and year-end will be around $0.0687 and $0.0678, respectively.
By 2024, Dogecoin’s mid-year and year-end market prices will be around $0.0782 and $0.0870, respectively. By 2025, Dogecoin’s market price prediction for the mid-year and year-end will be around $0.1027 and $0.0950, respectively.
yPredict (YPRED) Presale Performance
yPredict is one of the latest cryptocurrencies that uses AI and blockchain technology to provide signals for trading. Data scientists and Quants formed the solution for users to purchase on a monthly subscription using their token, YPRED.
yPredict analytics tool provides automatic chart pattern recognition and transactional data analysis for crypto and stock traders. This helps traders get good insights and the ability to predict signals for decision-making.
Again, the project provides an affordable AI-powered content solution that streamlines workflows with a smart editor; NLP suggests keywords and understandable scoring.
To make crypto trading forecasts easier, this platform uses AI models to forecast different crypto prices and stock assets. Furthermore, it has a marketplace that allows ML developers to sell their model predictions to users as subscription services.
YPRED Presale Performance
yPredict has garnered the attention of investors. On its Twitter page, the yPredict team shared that the presale raised $700K as of May 9, 2023.
Again, the presale progressed, marking dramatic records; on May 24, 2023, YPRED crossed $1.6 million. Later on, May 26, 2023, Crypto News reported that the presale hit $1.7 million.
On May 30, 2023, the yPredict presale raised $1.9 million, raising an additional $200K in 4 days. As of June 4, 2023, the presale hit an astonishing $2 million milestone; on June 16, 2023, it reached $2.3 million.
Today June 27, 2023, yPredict presale is still on its presale stage 6 and has raised $2,633,355.12. The project is set to reach its $2,982,551.25 threshold before the end of the presale.
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