Dogecoin (DOGE) seems to follow the market recovery trend after Bitcoin (BTC) reclaimed the $67k level. DOGE is up 16% in the daily charts, nearly 3% in the 14-day charts, and 77.4% over the previous month. Moreover, DOGE’s price has risen by 116.6% since March 2023. However, the popular memecoin is still down by 16% over the last week.
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The latest market rebound could be due to the Federal Reserve keeping interest rates unchanged despite an increase in inflation numbers in February 2024. While many traders and investors hoped for a rate cut this month, leaving rates as they were seems better than increasing them.
Dogecoin (DOGE) weekend price prediction
Despite the recent rebound, DOGE might face another slight correction over the weekend. According to CoinCodex, the popular memecoin might fall to $0.1504 on Sunday, Mar. 24, 2024. Falling to $0.1504 from current levels would translate to a 3.34% correction.
Changelly also predicts a bearish outlook for Dogecoin (DOGE) over this weekend. According to the platform, the dog-themed cryptocurrency might fall to $0.133127 this Sunday, Mar. 24, 2024. Falling to $0.133127 from current levels would translate to a dip of about 14.4%. Furthermore, Changelly does not expect DOGE to rally much in 2024. The platform predicts DOGE’s price to dip throughout the year.
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However, there is a chance that Dogecoin (DOGE) may witness a rally, given certain developments take place. Firstly, the asset will need a bullish market environment. Secondly, Tesla, SpaceX, and X owner Elon Musk recently said that the automaker may soon begin to accept DOGE as payment for their cars. So far, the company only accepts DOGE for its merchandise. If Tesla accepts DOGE, the asset may witness a massive price surge.