Dogecoin is currently on the rise, up nearly 15% in 24-hour trading. DOGE hit $0.15 on Thursday, attracting bullish sentiment from the index. The leading meme currency surged nearly 76% in 30 days, delivering handsome profits to investors. Holders who got in in mid-February made huge profits in Dogecoin in the middle of this year’s race. Now that the Bitcoin halving is approaching, will Dogecoin reach a new all-time high or will it continue to fall?
For the uninitiated, the Bitcoin halving event is set to occur next month on April 20, 2024. Meme coins are on the rise as Bitcoin reaches an all-time high of $73,737 this month. In this article, we will focus on whether Dogecoin’s index will rise or fall during the Bitcoin halving event.
Dogecoin: What will the price of Dogecoin be during the Bitcoin halving?
CoinCodex, a leading on-chain indicator and price prediction company, paints a bearish picture for Dogecoin. According to price predictions, DOGE could drop nearly 14% after the Bitcoin halving. The prediction highlights that Dogecoin may drop to $0.13 from the current price range of $0.15.
Despite Dogecoin’s Bitcoin halving event, the drop on the chart is still 2 cents. So, if predictions are accurate, a $10,000 investment in DOGE could turn into $8,600 during the Bitcoin halving next month. It is recommended to stay away from Dogecoin trading for now as all indicators point to losses.
However, the cryptocurrency market is highly volatile and there is no guarantee that DOGE will drop 14% in 30 days. It is recommended to conduct thorough research before entering the cryptocurrency and Dogecoin markets at this time. Trade at your own risk, as the Bitcoin halving event may make the market highly volatile.
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