Dogecoin Price Prediction – Can DOGE Reach $1 in 2023?
The dogecoin price has fallen by 6% in the past 24 hours, falling to $0.082213 as the cryptocurrency market continues to reel from the latest Fed hike and the ongoing effects of the FTX collapse. Its latest movements also mean that it's down by 16% in the past week and by 20% in the past fortnight, with its community's hope for some kind of Twitter integration remaining unrealized.
However, assuming that Twitter does eventually introduce dogecoin-based payments or tipping of some kind in the near future, then DOGE will rally significantly. But if the social network doesn't, it's arguable that the altcoin's fundamentals alone will be enough to lift it substantially from its current level.
Looking at dogecoin's chart, it seems as though it's currently going through a bearish reversal, as recent gains make way for a slide into losses. Its relative strength index (purple) has fallen from 60 at the start of December to under 40 today, and looks as though it will continue falling in the near term.
At the same time, DOGE's 30-day moving average (red) has pleateaued after recent rises and looks like it will begin falling towards its 200-day average (blue). If it sinks below the longer term average, this could signal a bigger selloff.
Looking at the Dogecoin community, it remains hopeful as far as DOGE's price is concerned, with some holding out for $1 (or even higher) in the not-too distant future.
Such expectations seem to be based almost entirely on the assumption that Twitter, with the dogecoin-supporting Elon Musk at its helm, will sooner or latter integrate DOGE tipping.
Aside from Musk's well-documented holding of DOGE and hints (from April) regarding DOGE-based payments, there's no real evidence that Twitter is actually
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