The price performance of Dogecoin (DOGE) during the 2022 bear market was significantly better than the vast majority of the crypto industry’s leading assets. After XRP, the meme coin ranked third on the top 10 list of cryptocurrencies.
The algorithm determines the Dogecoin price for February 1, 2023!
Dogecoin also surpassed its most important competitor, the Shiba Inu (SHIB). Since the beginning of 2023, DOGE has added $0.011 to its value, and investors will be hoping for more of the same title in February.
Machine learning algorithms on the crypto tracking platform PricePredictions 30-day forecast shows that Dogecoin will trade at $0.0833 on January 31, 2023, an increase of about 2.5% from DOGE’s value at the time of publication.
Dogecoin 30-day price forecast. Source: Price Estimates
AI price projection is based on technical indicators such as moving averages (MA), relative strength index (RSI), moving average convergence divergence (MACD), and Bollinger Bands (BB), among others.
Dogecoin price analysis
Currently, Dogecoin is trading at $0.08123, losing less than 5.5% daily, but up 3.69% from last week.
Dogecoin seven-day price forecast. Source: Finbold
Currently, Dogecoin is facing a resistance at $0.091 and if the price rises above the position, the asset will likely enter an uptrend towards $0.1.
After Elon Musk profited from his Twitter acquisition, it could see further price increases if the original assumption that the token was integrated as a payment option on the social media platform is met, but for now, that remains speculation.
Elsewhere, Dogecoin could be bullish as the community focuses on new products like Libdogecoin, Dogecoin Standard, and GigaWallet, among others.
Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.