At the turn of the year 2022/2023, the DOGE price was only US$0.070. In the first weeks of the year, the price rose steadily. In the middle of the month, DOGE was able to rally above $0.091, after a strong rally.
In recent weeks, the Dogecoin price has seen a stronger rise. However, the gains were lower than many other major cryptocurrencies. But the growth potential of the meme coin remains high in the coming weeks.
In the last weeks of January, the Dogecoin price rally continued, breaking above $0.097. In February, the price plunged to $0.082. After a further rise to $0.090 in mid-February, the price recently fell back to $0.082. However, the overall trend points to a positive Dogecoin forecast.
Why DOGE Price Increased Just a Little?
The Dogecoin rate has been able to rise in recent weeks, but has generally lagged behind the percentage gains of other cryptocurrencies and especially the other major meme coin, the Shiba Inu coin. The Dogecoin course has “only” gained about 15 percent in value since the turn of the year.
This was mainly because Dogecoin was particularly strong compared to the other coins in Q4 2022. It could see a very strong rise compared to other coins before the FTX crash. This increase was somewhat put into perspective by the accident. However, the Dogecoin course was particularly large at the time compared to other coins.
What is the Dogecoin Forecast for March 2023?
Dogecoin was able to rise significantly in recent weeks, but less than other coins. In general, as a meme coin, Dogecoin is particularly volatile and can experience sharp rises and falls in short periods. However, in the medium term, it generally follows the general market and therefore the development of the price of Bitcoin.
As the overall market is very likely to continue rising in the coming weeks, there is a positive Dogecoin forecast for the coming weeks. It could well be that Dogecoin sees strong rallies in the coming weeks and could rise massively accordingly.
The Dogecoin price should increase in March if the Bitcoin price continues to rise during this period. If Bitcoin breaks above the $25,000 resistance, Dogecoin is very likely to break above the $0.010 level.
Dogecoin could also rise more sharply if Bitcoin sees only a slight rise in the coming weeks. A 20% increase in the coming weeks seems very likely. But a massive rise of over 50% would also be possible in a very bullish market. A meme coin is always hard to predict.
A Dogecoin forecast of $0.095 to $0.012 is then assumed by the end of March.
Dogecoin could see a massive rise in the coming weeks. However, it is still a meme coin and could see a sharp drop in value again soon. The DOGE is still very speculative and should be well considered as an investment. Still, the potential gains are huge.
By Audy Castaneda
