Before the entire crypto market cap continues to decline, another leg of the macro bearish trend that started in November 2021, some of that money has trickled down to a few altcoins, allowing them to pump. Bitcoin has finished its move to the upside, finding major resistance at $25,000. Ethereum has stalled at the $2,000 resistance.
Despite the unstable situation of the cryptocurrency industry, which has been in a greater bear market throughout 2022, investors in Dogecoin are still optimistic that the meme coin will have a positive month in September.
By using the ‘Price Estimate’ function, which allows users to forecast the future value of cryptocurrencies, the CoinMarketCap crypto community predicts that the dog meme token will trade at an average of $0.08991 by the end of September 2022, which is still below the $0.01 critical psychological level.
DOGE price to fall by October
Specifically, the predicted price represents a $0.02649 or 41% gain over the asset’s existing market value as of the publication date for decentralized finance (DeFi). The community predicts that the price will fall by the end of October based on the 491 user votes that have been tallied so far, with an average prediction of $0.07471 +$0.01192 (+18.98%) to the current price.
It should be noted that the asset traded in the green before plummeting along with the larger crypto market. Since it fell down the $0.19 threshold in December of last year, Dogecoin has been experiencing a sustained selling frenzy. Due to this descending trend, the dog-themed cryptocurrency matched its yearly lows in June.
The recent Dogecoin Core 1.14.4 release included a number of technical “under the hood” fixes, including a reduction in the dust limit and other blockchain enhancements. Elon Musk responded to the breaking news of that on Twitter as well.