The 2022 cryptocurrency market crash did not spare anyone including the meme coins. The OG meme cryptocurrency, Dogecoin [DOGE] saw a major plummet despite Elon Musk’s big Twitter takeover. However, in 2023, the asset has grown by over 21%. The real question is if this trend would persist considering the consistent corrections that the market has been enduring.
While the meme coin started January on a good note, it might not end the month the same way, According to the community, the asset is expected to slightly plummet on January 31, 2023.
CoinMarketCap has an option where individuals can vote and predict the price of cryptocurrencies. A wide majority of them were seen suggesting that DOGE would most likely trade for $0.08135, during the end of the month. At press time, Elon Musk’s favorite cryptocurrency stands at $0.08551. Over the week, the asset bagged gains of around 5.50%, this was quite less compared to its counterparts.
The community was slightly bearish about Dogecoin. However, artificial intelligence systems did not mirror the same notion.
Here’s what Dogecoin will be priced at on January 31, according to AI
Prominent machine algorithm platform, PricePredictions employed multiple indicators like the Relative Strength Index, Bollinger Bands, Moving Averages, and Moving Average Convergence Divergence [MACD] to predict the price of Dogecoin. According to this AI, DOGE’s price could linger around the $0.086048 level on the last day of the month.
If this turns out to be true, Dogecoin’s holders could be pocketing profits throughout the coming week. Taking into consideration, DOGE’s current price levels, about 60% of holders were making money. Only, 37% weren’t. Dogecoin’s potential surge could boost these numbers further.
In addition, other factors like a tweet by Elon Musk regarding DOGE could also push the price of meme cryptocurrency.