The cryptocurrency community is expecting the price of Dogecoin ($DOGE) to increase in the near future. A survey from CoinMarketCap's price prediction feature suggests that the meme inspired crypto is likely to skyrocket by the end of the month, trading at around $0.0873 per token, adding an increase of almost 3%. This is not the first time that the crypto experts have forecasted such a rise in Dogecoin's price. In the past, the accuracy rate of these predictions have varied, ranging between 79% to 91%.
Recently, the Dogecoin fan community was thrown into complete awe, as Twitter CEO Elon Musk updated the microblogging site's logo to the Dogecoin symbol. However, the celebration was short lived, as the Tesla CEO soon removed the logo from the front page again, dashing the hopes of many DOGE holders who were expecting Twitter to integrate the cryptocurrency with its platform. This news had a ripple effect on the DOGE price, witnessing a decline.
On the opposite side, a prominent cryptocurrency analyst has proclaimed a positive outlook for the meme-based coin in the coming months. He predicted that the meme holiday of April 20 (4/20) will cause a new surge in the token's price - cutting straight to the heart of its 1,000,000,000,000+ shibes community. As per the analyst’s assessment, the meme culture will drive up the price of Dogecoin as some believe that Elon Musk will tweet about the cryptocurrency.
Presently, many cryptocurrency investors ‘HODL’ onto Dogecoin for a longer retro - demonstrating confidence in the coin's potential. Data from last October reveals that those who held DOGE for more than a year are now in possession of more than 44.8 billion tokens - and the cumulative worth of all their tokens is over $4.5 billion.
All in all, it appears that the cryptocurrency community is expecting the price of Dogecoin ($DOGE) to experience a substantial rise by the end of this month. A majority of expert prognoses have affirmed these assessments, and the current trend of holders ‘HODL’ing the coin for a longer period is also an encouraging sign. We just have to wait and watch whether or not the cryptocurrency's price move up or remain stable by the end of April.
Benjamin Anderson
- 2023-04-12
Will Dogecoin Prices Increase by the End of April?
Get the latest updates on Dogecoin cryptocurrency and predictions for its price from experts. Surveys from CoinMarketCap suggest Dogecoin ($DOGE) is likely to skyrocket by the end of April, trading at around $0.0873 per token.
