Dogecoin price prediction DOGE up 4%, what’s next?
Dogecoin (DOGE) has increased by a little over 4% on Friday, and the popular meme coin is currently trading close to $0.066.
This means that DOGE has managed to rise above its 21-Day Moving Average, which is at $0.0635.
The Friday recovery comes as the crypto markets ignore reports that the SEC has informed spot bitcoin ETF applicants that their filings are insufficient, and also due to a downside surprise from the latest US PCE inflation report.
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Price Prediction – What’s Next for Dogecoin (DOGE)?
However, DOGE is still trading below its other major moving averages, such as the 50, 100, and 200DMAs, as well as a downtrend from the yearly highs.
As a result, predictions for Dogecoin’s price remain pessimistic, with the cryptocurrency likely to encounter resistance if it attempts to retest the $0.08 area.
If Dogecoin were to recover to the $0.08 area and then face strong resistance, a retest of the yearly lows around $0.0540 could be expected.
Alternatives to Consider for Dogecoin (DOGE)
Investors should always consider diversifying their cryptocurrency holdings.
One high-risk, high-reward investment strategy that some investors might want to consider is participating in crypto presales.
In crypto presales, investors purchase tokens of emerging crypto projects to support their development.
These tokens are usually sold at low prices, and there is a history of presales delivering significant gains to early investors.
Many of these projects have excellent teams and a vision to provide a groundbreaking crypto application or platform.
If an investor can identify such projects, the risk/reward ratio of their presale investment can be very favorable.
The team at blockchain.com spends a significant amount of time reviewing presale projects to assist investors.
Here is a list of 15 cryptocurrencies that the project considers to be the best crypto presales of 2023.
See the 15 Cryptocurrencies
Disclaimer: This section includes insights from players in the crypto industry and is not part of blockchain.com’s editorial content.