Dogecoin Price Prediction: Can the DOGE Price Rebound by the end of the year?

Several weeks ago, the Dogecoin price was increasing. Regrettably, just after the FTX crash, the Dogecoin price decreased considerably. But how is Dogecoin predicted to perform in the weeks after the crash? Can the DOGE rebound by the end of the year? This article is all about Dogecoin price prediction. Let’s take a look at it in more detail.

What is Dogecoin crypto?

Dogecoin was the first meme token to emerge. Dogecoin was created as a parody of Bitcoin and was only clearly meant for entertainment. Even though, as time progressed, more and more individuals started investing in cryptocurrencies, raising the price and making Dogecoin more well-known. The Shiba Inu dog meme, which functions as the Dogecoin icon, also had an effect.

Dogecoin utilizes the Proof-of-Work consensus algorithm. With Ethereum’s official transformation to a PoS network, ETH mining proficiently ceased to exist. Because Ethereum no longer has a PoW consensus, Dogecoin (DOGE) has overtaken Bitcoin as the second-largest PoW blockchain. As a decentralized payment option for Bitcoin, it has a huge amount of potential.

Dogecoin Price Prediction: How has the Dogecoin price changed in recent weeks?

Dogecoin Price Prediction

Dogecoin Price Prediction: DOGE/USD Weekly chart showing the price – GoCharting

Dogecoin witnessed a tremendous surge in the last few weeks. Dogecoin climbed from $0.06 to $0.16 in late October and early November. Within a few days, the price had more than doubled. The soar, however, did not last very long. At the time of writing this, the DOGE price is trending at $0.07507.

The DOGE was made to accept higher losses at the start of November. Even so, after dropping to $0.12, the FTX crash lined in, having caused the prices to drop even further. Following more huge losses, the price was capable of stabilizing between 0.08 and 0.09 dollars. The price has since fallen to $ 0.075 in recent days.

Why was Dogecoin able to explode so savagely earlier?