The community of the meme cryptocurrency Dogecoin (DOGE) remains bullish. It anticipates the digital asset will end the third month of 2023 with a considerable gain to its current price, even though it is now registering losses on several charts.
In particular, based on data obtained on March 16 and the results of 790 votes made by users of the cryptocurrency tracking portal CoinMarketCap, Dogecoin is predicted to achieve an average price of $0.0858 by March 31.
If the community’s forecasts come true, DOGE’s current price would climb by 20.62%, or $0.01467, as DOGE was observed being traded at $0.07113.
It should also be mentioned that the historical accuracy of the predictions given by the cryptocurrency community for Dogecoin over the past six months is 78.72%, making them a viable substitute for price predictions provided by artificial intelligence (AI) platforms.
DOGE estimation accuracy | Source: CoinMarketCap
However, according to TradingView’s technical analysis (TA) of the one-day gauges for Dogecoin, the overall sentiment is bearish and aligns with the emotion of “sell” at 13. This is what happens when oscillators are pointing to “buy” at 2 and moving averages (MA) are sticking out in the “strong sell” area at 13.
DOGE 1-day trading gauges | Source: TradingView
According to recent data, the price of DOGE is trading at $0.0706, having dropped 3% in the previous 24 hours and 13% over the previous 30 days.
DOGE/USD 4-hour chart | Source: TradingView
Whether Dogecoin can live up to community expectations will depend on several external circumstances, including the situation in the more significant crypto business and macroeconomic plan and the addition of DOGE to verified assets on cryptocurrency trading site Binance.
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