While the year 2022 has been forgotten by the cryptocurrency community, the overall macroeconomic picture for 2023 is not yet complete. Still, the cryptocurrency community is hoping for a relief rally to take a breather from the ongoing bear market. Popular virtual currencies such as Doji Coin (DOGE), which grew exponentially in 2021, have completely lost value over the past year. Memecoin showed promising signs when Elon Musk took charge of Twitter .
Also Read: XRP Whales Holding Reaches ATH, Awaits Final Court Ruling
DOGE Coin DOGE Price Forecast for 2023
Memecoin has made great strides in 2022 to be considered a major cryptocurrency and not a “meme” token as its name suggests. In fact, DOGE, along with other cryptocurrencies, will be deployed as a payment method for Google Cloud users in 2023. However, it remains to be seen to what extent increased adoption will affect the price of the token. Technical indicators indicate that the DOGE price could rise appropriately in the medium term.
However, cryptocurrency analysts believe that a target price of $1 is not achievable in the near future.
However, according to projections from Ambessa’s Twitter account, DOGE could reach $0.65 in the next few years if memcoin maintains its 25-week moving average. At the time of writing, DOGE was trading at $0.07342, down 0.92% over the past 24 hours, according to price tracking platform Coin Market Cap.
$DOGE/USD #macro updateThe $1 #dumbmoney target is well ahead. This is a medium-term possibility if $DOGE WEEKLY holds 25MA support. Twitter. com/EHNruszl1E
– AN₿ESSA (@Anbessa100) December 21, 2022
Also read: this is the value of a $100 investment in Filecoin when FIL reaches $10
Meanwhile, news that Elon Musk is looking for a new Twitter CEO could cause Dogecoin’s price to fluctuate. Musk said in a recent statement that he will lead the software and server team even if he resigns; if Musk continues to name a new CEO, it will be interesting to see how the new management team plans to integrate virtual currency payments into the platform.