The digital asset industry has been met with a rather inconsistent month for a host of different assets. Moreover, one of the most prominent meme coins on the market has noted consolidation amid the current circumstances. However, AI predicts Dogecoin (DOGE) could see its price recover slightly in its prediction for July 31st, 2023.
Dogecoin has seen PricePredictions utilize its artificial intelligence price mapping technology to identify where the trend could be headed in the next month. Subsequently, the AI has predicted that the asset is showing a bearish trend in both the short and long term.
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Dogecoin (DOGE) AI Prediction for July 2023
Dogecoin has undeniably earned its place as one of the most prominent digital assets on the market. Moreover, it has firmly entrenched itself as the most sought-after meme coin. Yet, with the current market circumstances, artificial intelligence has sought out where its price could be headed in the short term.
Specifically, AI technology available on PricePredicitons has set the Dogecoin (DOGE) price for July 31st, 2023. Indeed, it predicts the asset price at $0.67428 for the end of July. Subsequently, that figure would represent a 0.75% increase in the asset’s current price, which is up 0.14% over the last 24 hours, according to CoinMarketCap.
The AI implored for this price prediction utilizes technical analysis indicators to arrive at its final results. Moreover, it will consult moving average convergence divergence and other indicators to identify just where the asset could be headed. Ultimately, this led it to assess Dogecoin as experiencing moderate gains for the end of the month.
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Santiment reported that Dogecoin had recently crossed above the $0.07 mark for the first time in more than a month. However, that was followed by what was the largest sorting the asset has seen this year, recorded just one week ago. Moreover, it has seen its discussions and interest level drop, according to the same report.
Conclusively, the AI price prediction technology is expecting gains for the asset. However, that could also be subject to change considering the overall market shifts that could occur in the next few weeks. Especially in the realm of meme coins, volatility is to be expected.