Dogecoin price prediction for today, February 13, 2023
The most recent Doge price prediction can be found here, along with the Doge to USD conversion rate.
The cost today is
The current Doge price is $0.0820695 USD.
DATE: 1 $ 0.0820695 DOGECOIN USD TODAY
a forecast for the dog price
The cryptocurrency Dogecoin (DOGE), which runs the blockchain for the dog meme-inspired Dogecoin crypto payments, crashed on Thursday, and price predictions have since gotten worse.
The internet’s favourite meme coin, which earlier this week broke out of an uptrend that had been in place since late December 2022, took a turn for the worse on Thursday as a result of a widespread crypto sell-off brought on by a combination of Fed tightening, fear-induced downside, and worries about the SEC’s crackdown on US-based crypto staking services.
For Friday, DOGE/USD finished barely above its 50-day simple moving average (SMA) near $0.08, down about 18% from last Saturday’s highs of $0.10 and more than 10% on the week.
The testing of the resistance-turned-support level of $0.079 by the bears, which was their short-term objective, suggests that the Dogecoin market is now likely to stabilise, if only for a few days.
With its most recent decline, Dogecoin’s gains for the year have dropped to less than 20%, and traders are once again debating whether the cryptocurrency ever completely exited its bear market, which started in the second half of 2021 and lasted through most of 2022. Since the cryptocurrency’s 2021 lows of less than $0.05, it has increased by more than 60%.
Prices are still higher than the 2022 lows due to expectations that Elon Musk, the recently recruited CEO of Twitter, could integrate Dogecoin into a future payment mechanism on the platform.
However, other analysts are afraid that Twitter may not be the magic solution to bring Dogecoin back to all-time highs because of declining Twitter interest, as can be seen in the interaction on Elon Musk’s posts.
According to recent research, US usage has decreased by 9% since Musk took over, with Democrats fleeing the site in large numbers due to Musk’s apparent right-wing political leanings. Musk appears to be growing more and more unhappy with the diminishing Twitter participation.
Investors in Dogecoin should be concerned if things don’t get better for the social media network, as Musk has previously claimed that Twitter is close to bankruptcy.
A retest of $0.079 support and perhaps a decline towards the 200-Day SMA at $0.077 seem more probable in the near term than a return to recent highs in the $0.10 region.
Next week’s US CPI figures could modestly boost the mood if they come in lower than anticipated. However, Dogecoin is expected to be constrained in the foreseeable future to its multi-month $0.07–$0.11 range.