Dogecoin has experienced a significant downturn in 2023, remaining stagnant in the cryptocurrency market and failing to show any substantial growth. This continuous decline has created hesitancy among investors, who are reluctant to enter positions due to the potential for further losses. With the hype surrounding Dogecoin fading during the bearish conditions of 2022, it has become one of the poorest-performing cryptocurrencies.
However, those investors who purchased Dogecoin after it reached its peak value of $0.73 in May 2021 eagerly anticipate a rise to $1. Unfortunately, given the current market conditions, the chances of Dogecoin slipping further outweigh the likelihood of a significant increase. This article will explore the potential timing for Dogecoin to surpass its all-time high of $0.73 and achieve a new record.
When Will Dogecoin Breach Its All-Time High of $0.73?
According to the machine-learning algorithm ‘Price Predictions,’ Dogecoin is projected to surpass its previous all-time high of $0.73, but not until 2029. The AI has forecasted that in December 2029, Dogecoin’s price could potentially exceed its May 2021 ATH and reach $0.77.
According to the AI-powered forecasting tool “Price Predictions,” Dogecoin is anticipated to achieve a new all-time high of $0.7722 in December 2029 as the year concludes. The average price of Dogecoin during that period is predicted to be around $0.74, assuming it receives the necessary support.
However, Price Predictions also suggest that Dogecoin may not reach the $1 milestone within this decade. The AI firm forecasts that the highest price DOGE could attain in 2023 is $0.83, which falls short of $1 by 17 cents. If this forecast holds true, Dogecoin would not reach $1 within the next seven years.
“Price Predictions” is an AI-powered tool that utilizes machine learning algorithms and various indicators such as moving averages (MA), relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB), and others to calculate token price predictions.
Dogecoin is trading at $0.068, experiencing a 0.4% decline in the 24-hour trading period. It has also dropped by 90.69% from its all-time high of $0.73, which was reached in May 2021.