Dogecoin's July 31 Price Predicted by Crypto Community with 85% Historical Precision

Join Our Telegram channel to stay up to date on breaking news coverage

The Dogecoin (DOGE) price trajectory continues to ascend, in sync with the crypto market and high-ranking altcoins based on market capitalization. The recent judicial verdict regarding Ripple’s lawsuit in the US, stating that XRP is not a security under specific circumstances, has been a contributory factor. DOGE has touched a monthly peak this Saturday, the 15th of July, and is trading at $0.07327 per coin at present. The previous 30 days have seen a surge in the price of this cryptocurrency by approximately 21.92%.

A prrice estimate for Doge for the end of the month is possible by looking at the crypto community from CoinMarketCap. This community has been successful in the past in predicting Dogecoin‘s end-of-month price 85.43% of the time in the last six months. As of July 15, from a total of 286 votes, it is anticipated that DOGE will trade at a mean price of $0.0822. This suggests approximately 12% appreciation from its current price within the next two weeks.

Predicting the price trajectory of any coin (or stock, for that matter) is a tricky business. Investors need to take many factors into account, as often a single indicator can be misleading and not be sufficient. However, when it comes to CoinMarketCap’s community voting, the accuracy of 85.43% gives confidence that this could be a very strong indicator, by itself. Despite this commendable track record, it’s important to remember that previous performance does not guarantee the future outcome. Various other factors that could sway DOGE’s price in the future must also be taken into account.

Doge, the market’s most profitable memecoin?

July 2023 has found Dogecoin to be the market’s most popular and lucrative memecoin, backed by a devoted community that includes meme enthusiasts, skilled traders, and high-profile investors such as Elon Musk, the billionaire. Dogecoin has successfully drawn in numerous investors throughout its history with its impressive performance, regardless of criticism. Currently positioned as the 9th largest cryptocurrency on CoinMarketCap, DOGE’s market capitalization surpasses $10 billion USD. The month of July has been positive for this crypto asset, as indicated by a rising trend in its monthly price chart.

This memecoin has exhibited high volatility in the past, capable of substantial price fluctuations within a short span of time. Elon Musk has even been accused of inflating DOGE’s value through public actions like changing his Twitter logo to a Shiba Inu dog, symbolic of the cryptocurrency, or through suggestive tweets concerning Dogecoin. The current upswing comes amidst an atmosphere of excitement in the crypto market, with investors placing high hopes on altcoins, especially after the US court’s positive ruling on the SEC vs Ripple lawsuit.

As the dominance of Bitcoin falls below 50% of the total market capitalization on CoinMarketCap, most altcoins are experiencing a surge, after a period of Bitcoin stealing the spotlight in terms of price performance. Musk positions Dogecoin as a legitimate competitor to the market leader and a viable alternative to traditional currencies. Significant price surges were seen when Musk toyed with the idea of accepting DOGE for Tesla merchandise in December 2021 and January 2022. Dogecoin, despite its meme status, was originally intended to be a more accessible peer-to-peer digital currency than Bitcoin, an aspect that Musk strongly supports.

Is there a Dogecoin competitor?

The cryptocurrency world is constantly evolving, with fresh projects sprouting up on a weekly basis. Veteran investors are of the belief that putting their money into these tokens could provide them a strategic edge, and consequently, massive returns down the line. These investors have the opportunity to buy tokens at a discounted price during presales before they are listed on any exchange. If the project turns out to be successful, these early backers could reap substantial profits quickly.

A question that is often asked is whether there can be any serious competitor to a popular meme coins such as Doge, backed by no other than the famous Elon Musk.

As it turns out, there might be. At the moment, making waves in the market is a new cryptocurrency known as Wall Street Memes, which uniquely fuses the realms of business and pop culture. This crypto offering introduces a ground-breaking platform that amalgamates meme-driven content and cutting-edge financial tools, thereby injecting a fresh breath of air into the investment arena.

The core objective of this cryptocurrency is to create a community leveraging the virality of internet memes to humorously address traditional financial issues. The project is a tantalizing proposition that draws a wider audience in search of a distinctive and non-traditional entry point into the market. By virtue of its innovative strategy, Wall Street Memes holds the potential to disrupt the market with its engaging mix of humor.

What makes this project stand out is its alluring array of internet memes, featuring famous movie characters such as Gordon Gekko from Wall Street. It’s interesting to note that Gekko’s legendary quote, “Greed is good,” has been tokenized by the community.

For those seeking to optimize their potential returns from Wall Street Memes, the presale period offers the perfect opportunity. By getting on board early, investors can position themselves as initial backers of the project and reap significant benefits.

The presale of WSM has recently hit a landmark by exceeding the $13 million mark. The presale’s hard cap is set at $30,577,000. This project is being touted by enthusiasts as one of the most consequential meme coins post its exchange launch.

You can explore the Wall Street Memes presale here.

Dogecoin’s July 31 Price Predicted by Crypto Community with 85% Historical Precision

Doge, the market’s most profitable memecoin?

Is there a Dogecoin competitor?

Related News

Read next

Maker Price Prediction For Today, July 16: MKR/USD Rebounds as the Price Faces $1000 Resistance