Given that the cryptocurrency market is currently in a bullish run, investors are closely monitoring Dogecoin (DOGE), the meme coin that set the trend for animal-based altcoins. In this regard, it seems that DOGE has recovered to $0. 16 level, people discuss the possibility of the price reaching $0. As indicated in the table above, the target of achieving 2 marks by the end of May should be attained.
Several cryptocurrency analysts at Changelly have offered their expectations of Dogecoin’s price in the following month based on its recent trends. In their opinion, the lower limit of DOGE in eight years can be estimated at $0. 153, while the maximum projected price is zero. 163, and even though the stock has been in a bit of consolidation, it is expected to rise to $0. It may not be very plausible by the end of May.
However, it should be noted that these predictions can be affected by such factors as the overall market sentiment and the new technologies that are being developed in the field of cryptocurrencies, let alone the so-called Musk effect, which means that the tweets of the head of Tesla and SpaceX, Elon Musk, can also influence the fluctuations in the price of Dogecoin.
At the moment, DOGE is trading at $0. 1635, with a 2. , but down 2% in the last 24 hours, and up 9. It increased by 2% in the last 7 days which represents a positive short-term performance.
Ongoing meme coin mania has created much debate on the potential for Dogecoin to shoot up further. Though expert opinions can help identify potential trends, the highly unpredictable nature of the cryptocurrency market means that it is almost impossible to accurately predict the future of such investments, which is why it is always important to proceed with caution and do one’s research before making an investment decision.
