Dogecoin whales have dumped a total of 570 million coins last week worth a staggering $92.5 million. The leading meme currency dipped close to 2% in a week and is attracting bearish sentiments. It is now among the worst-performing cryptocurrencies in the digital assets market with little to no price spurts.
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DOGE has dipped close to 49% year-to-date and is only sliding south in the charts. It had reached a high of $0.41 mid-January on the heels of Donald Trump taking the oath. Elon Musk’s closeness with the US President made Dogecoin surge double-digits but plummeted after he entered the White House.
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What Next For Dogecoin?
Not much can be expected of Dogecoin for the next 30 days as all recent price predictions indicate no rally. Leading on-chain metrics and price forecasting firm CoinCodex estimates that DOGE could reach a high of $0.17 one month from now. DOGE is currently hovering at the $0.163 mark and is projected to surge by less than a Cent.
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The maximum Dogecoin could rise in the next 30 days is just 5% from its current price. Therefore, an investment of $1,000 could turn into $1,050 if the forecast turns out to be accurate. That’s not considered decent returns as trading platforms levy transaction charges which is equivalent to the profits earned. The majority of investors are hoping for Dogecoin to reach the $1 mark but the meme currency is moving backward.
The $1 goal is now a distant dream as the broader markets are covered with the fear of tariffs. The 90-day tariff pause announced by Trump is an ash-covered disaster that could ignite in July. If Trump does not scrap the tariffs imposed on 185 countries in July, the overall markets could tank. Dogecoin could dip further leading to bigger losses to investors.
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