Cryptocurrency

Dogecoin

Elon Musk

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 <p class="paragraph">With Christmas Day approaching, investors are closely monitoring specific cryptocurrencies to gauge their performance during the season, even as the general market continues to trade in the green zone.&nbsp;</p> 
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 <p class="paragraph">Meme cryptocurrency Dogecoin (DOGE) is among the tokens to watch, as its performance during the Christmas season will hint at how DOGE ends the year and potentially what to expect in 2024.</p> 
 <p class="paragraph">To anticipate Dogecoin’s performance on Christmas Day, Finbold consulted<em> PricePredictions</em>, a tool leveraging artificial intelligence (AI) advanced machine <a rel="dofollow" title="learning" href="https://thebittimes.com/tag/learning.html">learning</a> algorithms. </p> 
 <p class="paragraph">According to the tool, on December 25, 2023, Dogecoin is projected to trade at $0.105, reflecting marginal gains of almost 2% from the asset’s valuation at the time of writing. Notably, the tool <a rel="dofollow" title="predicts" href="https://thebittimes.com/tag/predicts.html">predicts</a> a consistent surge in DOGE’s value over the next 30 days.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="426" src="https://cdn.thebittimes.com/images/2023/12/09/6cf39f30e3417c71b42a0d71406e0c5a.webp" alt class="wp-image-142251" srcset="https://cdn.thebittimes.com/images/2023/12/09/6cf39f30e3417c71b42a0d71406e0c5a.webp 1024w, https://cdn.thebittimes.com/images/2023/12/09/6cf39f30e3417c71b42a0d71406e0c5a.webp 300w, https://cdn.thebittimes.com/images/2023/12/09/6cf39f30e3417c71b42a0d71406e0c5a.webp 768w, https://cdn.thebittimes.com/images/2023/12/09/6cf39f30e3417c71b42a0d71406e0c5a.webp 1527w" sizes="(max-width: 1024px) 100vw, 1024px">
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   <em>Dogecoin 30-day price forecast. Source: PricePredictions</em>
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 <p class="paragraph">This price prediction is based on key technical analysis (TA) indicators such as Bollinger Bands (BB), relative strength index (RSI), moving average convergence divergence (MACD), and others.</p> 
 <h2 class="wp-block-heading" id="h-can-dogecoin-sustain-bullish-momentum">Can Dogecoin sustain bullish momentum? </h2> 
 <p class="paragraph">While Dogecoin has exhibited a sluggish growth trajectory for most of the year, the meme coin recently embarked on a rally in line with the overall market. Amid the gains, the lingering question is whether Dogecoin can sustain the momentum in search of a new all-time high.&nbsp;</p> 
 <p class="paragraph">It is worth noting that Dogecoin has reached its highest level of $0.10 for the first time since April. While the rally is significantly influenced by prevailing bullish sentiment, DOGE’s association with Tesla (NASDAQ: TSLA) CEO Elon Musk could play a key role in its <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trajectory.</p> 
 <p class="paragraph">Dogecoin’s <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movements are frequently influenced by news related to Musk. His outspoken support for the meme coin and hints that Dogecoin could potentially be involved in future financial services on the X (formerly Twitter) have contributed to the coin’s sensitivity to Musk-related developments.</p> 
 <p class="paragraph">Attention on DOGE and Musk has shifted to a potential connection with Tesla’s latest addition, the Cybertruck. Given Musk’s track record, the Tesla Cybertruck page contains multiple references to Dogecoin in its code, fueling speculation about using DOGE as a payment option for the futuristic truck. Indeed, such an addition will be bullish for the meme coin as it searches for the $1 valuation.&nbsp;</p> 
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">BREAKING: $DOGE in the source code of cybertruck check out page.<br><br>I verified myself.@elonmusk verify yourself please.<br><br> pic.twitter.com/0Vori0BLHK</p>— MartyParty (@martypartymusic) October 9, 2023
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 <p class="paragraph">It’s essential to highlight that, despite the code references, neither the company nor Musk has officially mentioned Dogecoin as a payment option for the Cybertruck, adding an element of uncertainty to the speculation.</p> 
 <h2 class="wp-block-heading" id="doge-price-analysis">DOGE price analysis </h2> 
 <p class="paragraph">As of press time, Dogecoin was trading at $0.103, recording daily gains of almost 5%. On the weekly chart, DOGE is up over 20%.</p> 
 <figure class="wp-block-image aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/09/29a1768e19c1d0a9c2e161d63fd0cb2f.webp" alt class="wp-image-142252" srcset="https://cdn.thebittimes.com/images/2023/12/09/29a1768e19c1d0a9c2e161d63fd0cb2f.webp 1024w, https://cdn.thebittimes.com/images/2023/12/09/29a1768e19c1d0a9c2e161d63fd0cb2f.webp 300w, https://cdn.thebittimes.com/images/2023/12/09/29a1768e19c1d0a9c2e161d63fd0cb2f.webp 768w, https://cdn.thebittimes.com/images/2023/12/09/29a1768e19c1d0a9c2e161d63fd0cb2f.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>DOGE seven-day price chart. Source: Finbold</em>
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 <p class="paragraph">Reviewing Dogecoin’s technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> indicates that bullish sentiments dominate the meme coin. A summary of gauges aligns with the ‘strong buy’ sentiment at 16. Moving averages also signal a ‘strong buy’ at 14, while oscillators are neutral at 8.</p> 
 <figure class="wp-block-image aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="199" src="https://cdn.thebittimes.com/images/2023/12/09/cdca799e52f37ec1af8e42f9dbdd2990.webp" alt class="wp-image-142253" srcset="https://cdn.thebittimes.com/images/2023/12/09/cdca799e52f37ec1af8e42f9dbdd2990.webp 1024w, https://cdn.thebittimes.com/images/2023/12/09/cdca799e52f37ec1af8e42f9dbdd2990.webp 300w, https://cdn.thebittimes.com/images/2023/12/09/cdca799e52f37ec1af8e42f9dbdd2990.webp 768w, https://cdn.thebittimes.com/images/2023/12/09/cdca799e52f37ec1af8e42f9dbdd2990.webp 1536w, https://cdn.thebittimes.com/images/2023/12/09/cdca799e52f37ec1af8e42f9dbdd2990.webp 1619w" sizes="(max-width: 1024px) 100vw, 1024px">
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   <em>DOGE technical analysis. Source: TradingView</em>
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 <p class="paragraph">Considering everything, the prevailing atmosphere in the cryptocurrency industry does appear to lean toward a bullish sentiment concerning the future price of DOGE in the near term.</p> 
 <p class="paragraph"><strong><em>Disclaimer:&nbsp;</em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/machine-learning-algorithm-predicts-doge-price-for-xmas-tbt73150.html">https://thebittimes.com/machine-learning-algorithm-predicts-doge-price-for-xmas-tbt73150.html</a></p>

Machine learning algorithm predicts DOGE price for Xmas

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