Doge Price Prediction: Today’s Dogecoin Price, 9th March 2023
The price of Dogecoin (DOGE) has been on a bearish trend since February 19, experiencing a significant decline. This was fueled by remarks from Morgan Creek Capital Management’s CIO Mark Yusko, who criticized meme coins like Dogecoin, claiming they hold no value. Additionally, a tweet from Elon Musk expressing his interest in AI failed to bolster the price of Dogecoin.
Doge Today’s price
Doge price today is $0.0734436 USD
Doge Price Prediction:
Currently, Dogecoin is trading above its support level of $0.0736, but with Federal Reserve Chairman Jerome Powell’s testimony indicating a possible acceleration in rate hikes, investors should anticipate the downtrend to continue. In the event that buyers do not return, Dogecoin’s price may fall to its next support level at $0.0682, representing an 8% decline.
“I used to be in crypto, but now I got interested in AI”
— Elon Musk (@elonmusk) March 3, 2023
doge price prediction today
The Relative Strength Index (RSI) also suggests bearish sentiment, with a current price strength of 32. However, the daily chart shows a bullish cross between the 50-day and 100-day Exponential Moving Averages (EMAs), indicating potential for an uptrend. If buyers return and push the price up, the meme coin could rally to the $0.0823 resistance level. This could attract more investors, but to invalidate the bearish thesis, a daily candlestick must close above $0.0827, resulting in a higher high and potentially triggering a run-up to the 200-day EMA at $0.0845.