Dogecoin’s (DOGE) price has taken a hit over the last few days. The original memecoin has faced a 3.6% correction in the daily charts, a 10.7% correction in the weekly charts, and a 3% correction over the previous month. However, DOGE is still up by 18.5% in the 14-day charts and over 80% since April 2023.
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DOGE’s recent plummet may be due to Bitcoin (BTC) falling to around $66k. Spot BTC ETF (Exchange Traded Fund) products have seen a decline in inflows. The bearish sentiment could be due to fading interest rate cut expectations. Inflation in the US rose to 3.2% for February.
Dogecoin (DOGE) weekend price prediction
According to CoinCodex, DOGE may be in for a bearish few weeks. The platform anticipates DOGE to fall to $0.174 on Sunday, Apr. 7, 2024. Hitting $0.174 from current levels would translate to a drop of around 2.79%.
Changelly, on the other hand, anticipates Dogecoin (DOGE) to rally over the weekend. The platform expects the original memecoin to hit $0.183314 on Sunday, Apr. 7, 2024. Reaching $0.183314 from current levels would translate to a growth of about 2.41%.
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There is also a possibility that DOGE could rally higher than anticipated, given that Bitcoin (BTC) will undergo its next halving cycle soon. BTC’s halving event may trigger a market-wide rally, taking DOGE to a new 2024 high.
Furthermore, Tesla, SpaceX, and X chief Elon Musk recently said that Tesla may enable Dogecoin (DOGE) payments for its vehicles. If the automobile manufacturer enables DOGE payments, we may witness a sudden surge in the asset’s price. Moreover, there is talk that Musk’s X social media platform will allow DOGE payments in its upcoming payments feature, which could boost the asset’s adoption.