Dogecoin is currently trading at the $0.07 level and spiked nearly 7% in the 24-hour day trade. DOGE saw a spurt in the charts after nearly two months as the coin remained on a downward spree. However, now that DOGE is up nearly 25% since the last month, will it experience a leg up? In this article, we will highlight a Dogecoin price prediction for mid-November 2023. Here’s how high or low the leading meme currency could trade in the indices next week.
Mid-November Price Prediction For Dogecoin (DOGE)
Dogecoin is among the least-performing assets in 2023 as it went on a relentless downturn from January to October. Leading on-chain metrics and price prediction firm Changelly has painted a bearish picture for DOGE in mid-November 2023. According to the price prediction, Dogecoin will remain in the red next week and fall another 5% in the coming days.
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The price forecast suggests that Dogecoin could fall to $0.067 level during mid-November 2023. That’s a downturn of close to 4.25% from its current price of $0.075. Therefore, it is advised to not take an entry position into DOGE at the moment. The leading meme currency has more to lose than gain in the charts this week.
The conflict in the Middle East is also a leading cause for the cryptocurrency markets to remain in the red. If the Israel and Palestine conflict escalates, then both the global stock and cryptocurrency markets could experience a bloodbath. It is advised to do thorough research before taking an entry position into Dogecoin at the moment due to troubling global factors.
At press time, DOGE was trading at $0.075 and is up more than 6% in the 24-hours day trade. However, DOGE is down close to 90% from its all-time high of $0.73, which it reached in May 2021.