Forecasting the Value of Dogecoin in Mid-March 2023
Dogecoin, the leading meme currency, has shown little growth since the start of January and is down 15% in the last 14 days. The coin is considered stagnant and is testing the patience of its investors. Dogecoin has been unable to climb above $0.07 and has more chances of heading south than north amid various macroeconomic factors affecting its growth, including the banking crisis, inflation, rising interest rates, job cuts, and wage stagnancy. Price prediction firm Analytics Insight has forecasted that the maximum price Dogecoin could reach by the month’s end is $0.08, but DOGE could briefly touch $0.08 and retrace back to $0.07. There are slim chances that DOGE could skyrocket in the near future as it did in early 2021. At press time, Dogecoin was trading at $0.07 and is down 90.25% from its all-time high of $0.73, reached in May 2021.