AI Predicts Dogecoin Price by March 31st
Date: 2024-03-07 Author: Dima Zakharov Categories: BLOCKCHAIN
AI Prediction for Dogecoin Price
Cryptocurrency market rebounds have been notable, with most crypto-assets currently showing slight growth. According to algorithms powered by machine learning and artificial intelligence (AI) utilized by the PricePredictions platform, Dogecoin (DOGE) is on an overall upward trend and is expected to reach $0.178075 by March 31, 2024.
Price Analysis of Dogecoin
While PricePredictions platform indicates a bullish trend in March, Dogecoin currently exhibits a 9% decrease over the last 24 hours. However, this short-term decline hasn't altered Dogecoin's positive momentum over the past seven days, with an increase of 18.5% for the week and 96.7% for the last month.
Technical Analysis of Dogecoin
Technical analysis suggests that Dogecoin maintains its bullish trend. Weekly moving averages (MA) indicate "strong buy" at level 14, while oscillators reside in the "buy" zone at level 2.
Reasons Behind Dogecoin's Progress
Despite the broader cryptocurrency market surge, Dogecoin's recent rally can be attributed to several factors. Notably, developers plan to finalize the Dogecoin Core 1.14.7 update, which promises enhanced performance and usability of the network, alongside bug fixes and security enhancements.
Furthermore, the recent rally is also tied to accumulation by large investors, often referred to as "whales" in the crypto community. While the number of addresses holding over 100,000 DOGE has increased, the registered number of addresses with balances exceeding 1 million DOGE has slightly decreased.
