Related articles
The original meme coin cryptocurrency, Dogecoin, is currently trading at the $0.1918 mark, down from its recent $0.2 level. In the last 30 days, DOGE has rallied close to 13%.
Dogecoin had outperformed Bitcoin, Ethereum, and Solana in its rally by printing double-digit profits to investors in a month. Now that the most-anticipated Bitcoin halving event is coming closer, Dogecoin is expected to spike further in price.
In this article, we will highlight how high DOGE could trade in the charts during the Bitcoin halving event. The event is scheduled to take place on April 21, 2024, and is the most exciting development to occur in the cryptocurrency market this year. For the uninitiated, the Bitcoin halving event cuts the supply of BTC in half, making the cryptocurrency scarcely available in the market.
Also read: Shiba Inu: AI Forecasts SHIB Price For April 15, 2024
Dogecoin: Bitcoin Halving Price Prediction For DOGE
Since Bitcoin has a lot of demand and less supply, BTC’s price is expected to scale up in the charts. On the other hand, Dogecoin moves in tandem with BTC, therefore, its price is also expected to rise.
CoinCodex, a leading on-chain metrics and price prediction firm, has forecast DOGE’s price. The price prediction forecasts that DOGE could hit $0.194, just a mere 1% surge from its current price.
Also read: Hong Kong To Approve Spot Bitcoin & Ethereum ETFs By Monday
The price forecast predicts that Dogecoin will trade quietly in the days leading up to the Bitcoin halving. However, the overall market conditions could overturn the prediction.
If Bitcoin breaches the $73,000 level and goes for new all-time highs, Dogecoin could definitely surge in value. Additionally, if Musk makes any announcements regarding DOGE, the price could surge unpredictably.
Also read: Cryptocurrency: Top 3 Ethereum ERC20 Coins To Watch This Week
Credit: Source link
