Dogecoin: Will DOGE Turn Bullish in July 2023?

Vinod Dsouza
dogecoin doge rainbow cloud
Source: Pixabay

Dogecoin is among the worst-performing cryptocurrencies of 2023 as its bearish streak is yet to come to an end. The leading meme currency barely rallied in price this year and slipped further south after each month. DOGE has lost its hype and the larger-than-life persona and blind fanfare seems to have fizzled out. The downturn is making investors rethink their prospects in meme currencies as it runs with nothing but hype and build-up.

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Source: Coingecko

Elon Musk is accused of insider trading in Dogecoin after a group of investors filed a class action lawsuit against the billionaire. Read here to know more details about the lawsuit and how the case is currently shaping up.

Now that the first half of 2023 remained lackluster for Dogecoin, will the second half change its fortunes for the good? In this article, we will highlight a price prediction for DOGE for July 2023. Let’s see how high or low the meme coin could trade in the charts next month.

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Dogecoin: July 2023 Price Prediction For DOGE

How to Mine Dogecoin (DOGE)?
Source: Finbold

Leading on-chain metrics and price prediction firm Changelly has painted another depressing outlook for Dogecoin for July 2023. According to the prediction, DOGE could plummet double digits in the next three weeks and reach a new yearly low.

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Source: Changelly

The price prediction claimed that Dogecoin could fall to $0.054495 levels during mid-July 2023. That’s a downturn of nearly 16% from its current price. Therefore, July could also remain bearish for DOGE and generate more losses to investors than profits.

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Source: Changelly

The technical overview for Dogecoin is 96% bearish and only 4% bullish. Therefore, it is advised to remain cautious before taking an entry position into DOGE at this moment. At press time, Dogecoin was trading at $0.064954 and is down 0.1% in the 24-hours day trade. DOGE is also down 91.11% from its all-time high of $0.73, which it reached in May 2021.