Dogecoin Price Prediction – Musk Effect Won’t Wear Off Soon – Rally to $1 to Come

Dogecoin has dropped by over 7% in the last 24 hours. The meme coin is bearish today as most of the cryptocurrency market trades in the red zone after the Fed raised interest rates by 75 basis points on Wednesday.

Dogecoin price analysis

Dogecoin’s rally has taken a break following the dips recorded in the last 24 hours. At the time of writing, DOGE was trading at $0.131. If the bearish sentiment grows, Dogecoin will likely drop to $0.11 in the short term.

Dogecoin’s trading volumes are still high and came in at $5.34 billion in the last 24 hours, showing that traders’ interest in the meme coin is still notably high.

The spiraling gains in DOGE started after Elon Musk’s Twitter purchase deal was closed, with the community hopeful that DOGE payments would come to Twitter. With Musk already proposing an $8 fee for people who want to be verified, it is becoming likely that DOGE will be among the supported currencies.

If this happens, DOGE will resume the bull run and possibly break past its all-time high of $0.73. After this price, the meme coin could be ready to rally to $1. However, traders should be cautious because such moves can result in reversal.

Altcoins to consider buying today

If you want to diversify your portfolio, you might consider investing in some of the best presales happening today.

The first is Dash 2 Trade, which has so far raised more than $4.36 million and is fast selling out. Dash 2 Trade is a platform that enables crypto traders to make winning trades by giving them access to tools and AI-powered market sentiment analysis. D2T has already secured a pre-listing on the LBank exchange, and the price will pump once the listing happens.

The other presale is for IMPT. IMPT is a green crypto powering the IMPT.io platform focused on lowering carbon emissions. The IMPT presale has already raised over $12 million, with the token attracting high demand from ESG investors.

Thirdly is the Calvaria presale. Calvaria is a blockchain gaming project that plans to bridge the gap between traditional gaming and buzzing play-to-earn gaming. Because of its unique approach, the Calvaria presale is performing well and has already raised more than 1 million USDT. Stage three of this presale is 88% complete.

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• A complete analysis of the Dogecoin price. How high can it go?