Dogecoin is trading at $0.073 currently and is up nearly 6% after trading in the red for four consecutive days. The leading meme coin is displaying positive sentiments but a rally could be out of the cards. DOGE barely rallied this year and mostly traded on the back foot for three months. However, Bitcoin touched $26,000 on Friday, March 17, 2023, which led to other cryptocurrencies heading north in the indices.
BTC is gearing up for a potential rally despite the banking crisis as positive sentiments have entered the markets. If the king coin carries on with the momentum, it could touch a yearly high of $28,000 next. The development could make DOGE soar in price and give it the much-needed boost.
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Dogecoin Prediction
The Dogecoin community banded together on CoinMarketCap giving out a price prediction for March 31, 2023. The DOGE community remains to be slightly bullish as the cryptocurrency markets are performing well as BTC is steadily scaling up.
According to the community prediction, Dogecoin could reach a new high of $0.085 by the end of the month. That’s an uptick of nearly 15% from its current price of $0.073.
Also Read: Dogecoin: The Rise From Meme to Millions
The DOGE community has an accuracy rate of 78.72% when it comes to giving out price projections every month. On the other hand, price prediction firm, Analytics Insight also forecasted that DOGE could end the month at $0.08. The estimate suggests that the meme currency could retrace in price in early April after reaching the $0.08 mark.
The markets remain on the brink of a banking crisis that could snowball further and damage the growth of stocks and cryptocurrencies.
Also Read: Dogecoin Price Prediction for Mid-March 2023
At press time, Dogecoin was trading at $0.073 and is up 5.6% in the 24-hour day trade. DOGE is down 89.90% from its all-time high of $0.73, which it reached in May 2021.