Leading meme currency Dogecoin is hovering around the $0.13 mark on Wednesday. DOGE is up nearly 19% in the last 14 days and is attracting bullish sentiments in the charts. Will the meme currency carry on with the positive momentum this week and deliver gains to investors? In this article, we will highlight how high or low DOGE could trade in the indices by the end of July.
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AI Predicts Dogecoin Price For July 31
The cryptocurrency market remains on a slippery slope due to global macroeconomic pressures this week. The development could dent Dogecoin’s prospects in the coming days and could make the meme currency head south. Leading machine-learning algorithm and artificial intelligence (AI) firm CoinCodex has pained a bearish picture for Dogecoin this week.
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The price prediction estimates that Dogecoin could dip by nearly 2.75% by the end of July 2024. It could shed a brief value by July 31, 2024, leading to losses to investors. “The Dogecoin price prediction for next week is between $ 0.129408 on the lower end and $ 0.114712 on the high end,” read the forecast.
Unless a positive development reaches the cryptocurrency market, DOGE has slim chances of scaling up in the charts. Not just Dogecoin, but many meme currencies are facing similar conditions with its price being stagnated in the indices. Meme currencies like Shiba Inu, Floki, and Bonk, among others are mostly trading sideways this month.
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The calls for Dogecoin to hit $1 is simmering down and the hype surrounding the meme currency is fading lately. DOGE mostly runs on hype and buzz and without it, its price could experience anathema in the charts. It is advised to stay out of DOGE this month as it could deliver losses. It’s best to invest in other cryptocurrencies that can generate profits in the coming days.