Dogecoin Price Forecast for July 2023
Dogecoin (DOGE) has seen a recent bullish trend, with a weekly increase of 3.9% and a 14-day increase of 4.1%. However, there has been a correction of 2.2% in the past few hours, which is reflective of the overall correction in the crypto market. DOGE is currently facing resistance at $0.07037, with support at $0.06652. If it can break past this resistance, it may face new resistance at $0.0729. The positive sentiment surrounding Bitcoin (BTC) is believed to be the cause of the market’s recent rally, with all projects, including memecoins like DOGE, benefiting from the “BlackRock hype.”
Although the memecoin rally that occurred in late April has died down, the renewed positive sentiment in the market could potentially benefit DOGE. There is a possibility that DOGE could drop to around $0.064 due to the recent correction, but if the positive sentiment continues, it may rally to $0.07300. There is speculation that if DOGE can close above $0.07, it could potentially trigger a rally in other memecoins as well.
However, it is important to note that DOGE and other memecoins are currently experiencing a correction, which is also being led by Bitcoin. At the time of writing, DOGE is trading at $0.067036, reflecting a 1.7% decrease in the last 24 hours.
Overall, while DOGE has been experiencing some bullish momentum, there has recently been a correction in the market. The positive sentiment surrounding Bitcoin and the potential for a meme coin rally may impact the future trajectory of DOGE and other memecoins. However, market conditions are currently uncertain, and it remains to be seen how these factors will play out in the coming days and weeks.