Here’s a revision: Mid-May 2023 Forecast for Dogecoin’s Value
Dogecoin, the meme-inspired cryptocurrency, has been struggling to gain momentum after seeing a spike in early April when Elon Musk changed his Twitter profile picture to the Dogecoin logo. Despite other cryptocurrencies rallying in the first quarter of 2023, Dogecoin has remained stagnant, hovering around $0.07. According to prediction firm Changelly, the outlook for Dogecoin is bearish, with a predicted dip to $0.06 by the end of May 2023, which is a 12% drop. Additionally, the prediction estimated that the meme currency may drop further next month, reaching new yearly lows. Dogecoin’s hype seems to have fizzled out since 2022, and investors are growing impatient with the currency’s lack of progress. At this time, Dogecoin is down almost 90% from its all-time high of $0.73, which it reached in May 2021.