•Dogecoin (DOGE) is a popular meme coin that was forked from Litecoin in December 2013.
•The coin is known to be the favorite crypto of Tesla CEO Elon Musk and his ceaseless support seems to accelerate significant price rallies.
•In Dogecoin (DOGE) price prediction 2023, Bullish DOGE price prediction for 2023 is $0.09958 to $0.14293 and Bearish DOGE price prediction for 2023 is $0.04931.
What is Dogecoin (DOGE)?
Dogecoin (DOGE) is a popular meme coin that was forked from Litecoin in December 2013. The coin was created by Billy Markus and Jackson Palmer from a viral meme of the dog breed, Shiba Inu. DOGE continues to exist as a peer-to-peer and open-source cryptocurrency. Unlike Bitcoin, Dogecoin uses a proof-of-work (PoW) consensus mechanism that is based on the Scrypt algorithm which has shorter block time than Bitcoin’s 10 minutes at 1 minute block time for Dogecoin network. It also holds recognition as the favorite crypto of Tesla CEO Elon Musk whose tweets seem to have an influence on its significant price rallies.
Dogecoin (DOGE) Current Market Status
At present, Dogecoin’s 24 hour trading volume stands at $578,874,681 with 24 hour price change of 3.6% up and circulating supply of 138,512,516,383 coins with all time high record set at May 08 2021 at $0.731578
Dogecoin (DOGE) Price Prediction 2023
Analyzing the current trend through chart pattern analysis falling wedge indicates a bullish reversal in trend where momentum of downtrend slows down and resistance levels rise up towards $0.07169 & $0.08265 while bearish trend may see the fall towards level of$ 0