Dogecoin Price Prediction as $400 Million Trading Volume Comes In – Can DOGE Reach $1 in 2023?

cryptonews.com:

The Dogecoin price has fallen to $0.071674 today, dropping by 2% in the past 24 hours, as news of Silvergate's voluntary liquidation chips away at the cryptocurrency market's overall value.

DOGE's current price means that it has declined by 12% in a week and by 20% in the last 30 days, with the meme token up by only 2% since the beginning of 2023.

However, with its 24-hour trading volume returning to $400 million, DOGE continues to generate the kind of busy market activity that can easily translate into gains when the conditions are right.

And with new exchanges listing the token this month, as well as the ongoing expectation that (sooner or later) Twitter will integrate DOGE payments in some way, the coin could easily mount a nice recovery in the next few weeks, and beyond.

While DOGE has suffered in the past week or so, its indicators are now very close to hitting a bottom.

Its relative strength index (purple) dipped below 30 earlier this morning, while its 30-day moving average (red) is about to sink below its 200-day average (blue).

Together, this suggests that DOGE is oversold and that it will soon need to correct upwards, with its price also below both its 30- and 200-day averages.

As for how far it might fall before stabilizing, it needs to be said that DOGE has broken through a number of support levels in the past few weeks, meaning its holders aren't holding out very well right now.

However, the longer term picture does look better for DOGE, with the coin having various things to look forwards to and anticipate.

It's biggest hope is that, eventually, Elon Musk will pull through on earlier intimations and introduce cryptocurrency payments on Twitter, including payments in DOGE.

Musk's earlier hints have been given weight