2024

Cryptocurrency

Terra Classic

Dogecoin

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 <p class="paragraph">The assessment of Dogecoin’s (DOGE) value remains a key focus, with investors monitoring whether the meme coin can reach the highs seen in 2021.&nbsp;</p> 
 <p class="paragraph">Notably, as the market anticipates a potential bull run, particularly with the possible approval of a spot Bitcoin exchange-traded fund (ETF) in the US, it is intriguing whether Dogecoin can capitalize on this momentum to achieve new highs.</p> 
 <p class="paragraph">To begin 2024, Dogecoin has experienced a bearish start, erasing a significant portion of the gains it had accumulated in early December. When analyzing the potential trajectory of DOGE prices, Finbold sought insights from artificial intelligence (AI), which forecasts a continuation of bearish trends throughout January.</p> 
 <p class="paragraph">In particular, advanced AI <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> prediction <a rel="dofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>s from the crypto market analytics and prediction platform <em>CoinCodex</em> project Dogecoin’s <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> on January 31, 2024, to be $0.072. This valuation reflects a decline of approximately 10% from the coin’s <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> at the time of this publication.</p> 
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  <img decoding="async" width="1020" height="493" src="https://cdn.thebittimes.com/images/2024/01/06/401fe845609685ecee66c22089fa1726.webp" alt class="wp-image-147670" srcset="https://cdn.thebittimes.com/images/2024/01/06/401fe845609685ecee66c22089fa1726.webp 1020w, https://cdn.thebittimes.com/images/2024/01/06/401fe845609685ecee66c22089fa1726.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/401fe845609685ecee66c22089fa1726.webp 768w" sizes="(max-width: 1020px) 100vw, 1020px">
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   <em>Dogecoin end of January 2024 price prediction. Source: CoinCodex</em>
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 <h2 class="wp-block-heading" id="h-doge-s-bullish-catalysts-nbsp">DOGE’s bullish catalysts&nbsp;</h2> 
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 <p class="paragraph">It’s essential to highlight that the trajectory of Dogeocoin’s <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> is predominantly tied to the overall market direction, currently lacking specific bullish triggers. Notably, past bullish movements in DOGE were often influenced by events like mentions from Tesla (NASDAQ: TSLA) CEO Elon Musk, a significant supporter of the meme coin.</p> 
 <p class="paragraph">In connection to Musk, a noteworthy catalyst is the scheduled rollout of payment services by X (formerly Twitter) in 2024, and Dogecoin is poised to benefit from this development.</p> 
 <p class="paragraph">Meanwhile, DOGE continues to experience increased on-chain activity, particularly involving large transactions by whales. On January 1, a notable transfer of 59.9 million DOGE (approximately $5 million) occurred from an unidentified wallet to Coinbase, reflecting a trend in the Dogecoin ecosystem with a recent surge in high-value DOGE transfers.&nbsp;</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr"> 56,999,997 #DOGE (5,079,422 USD) transferred from unknown wallet to #Coinbasehttps://t.co/wgcGKHIbpR</p>— Whale Alert (@whale_alert) January 1, 2024
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 <p class="paragraph">Examples include a December 29 transaction of 65.1 million DOGE (valued at about $5.89 million) to Coinbase from an unknown source. Additional significant transfers involve 230 million DOGE sent to Robinhood (roughly $21.61 million).&nbsp;</p> 
 <p class="paragraph">It will be intriguing to monitor how these large transactions can influence the <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trajectory of DOGE in the long term. At the moment, the valuation of $1 remains a key target for DOGE.&nbsp;</p> 
 <h2 class="wp-block-heading" id="h-doge-price-analysis">DOGE price analysis</h2> 
 <p class="paragraph">By press time, DOGE was valued at $0.08 with daily losses of over 3%. On the weekly chart, the meme coin is down over 11%.&nbsp;</p> 
 <figure class="wp-block-image aligncenter size-large">
  <img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/06/ed36dacaf531c153522ea8bc2b684e74.webp" alt class="wp-image-147671" srcset="https://cdn.thebittimes.com/images/2024/01/06/ed36dacaf531c153522ea8bc2b684e74.webp 1024w, https://cdn.thebittimes.com/images/2024/01/06/ed36dacaf531c153522ea8bc2b684e74.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/ed36dacaf531c153522ea8bc2b684e74.webp 768w, https://cdn.thebittimes.com/images/2024/01/06/ed36dacaf531c153522ea8bc2b684e74.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Dogecoin seven-day price chart. Source: Finbold</em>
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 </figure> 
 <p class="paragraph">Elsewhere, a review of Dogecoin’s technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> is bearish. A summary of the one-day gauges retrieved from <em>TradingView</em> recommends the ‘sell’ sentiments at 13 while moving averages are for ‘strong sell’ at 11. Oscillators are ‘neutral’ at 8.&nbsp;</p> 
 <figure class="wp-block-image aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="199" src="https://cdn.thebittimes.com/images/2024/01/06/282e50ce41888e70e40115c37670bc06.webp" alt class="wp-image-147672" srcset="https://cdn.thebittimes.com/images/2024/01/06/282e50ce41888e70e40115c37670bc06.webp 1024w, https://cdn.thebittimes.com/images/2024/01/06/282e50ce41888e70e40115c37670bc06.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/282e50ce41888e70e40115c37670bc06.webp 768w, https://cdn.thebittimes.com/images/2024/01/06/282e50ce41888e70e40115c37670bc06.webp 1536w, https://cdn.thebittimes.com/images/2024/01/06/282e50ce41888e70e40115c37670bc06.webp 1622w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Dogecoin technical analysis. Source: TradingView</em>
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 </figure> 
 <p class="paragraph">Overall, Dogecoin’s ability to rally will be heavily reliant on how the general market moves. </p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
 <p class="paragraph"> </p>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/machine-learning-algorithm-sets-dogecoin-price-for-january-31-2024-tbt75777.html">https://thebittimes.com/machine-learning-algorithm-sets-dogecoin-price-for-january-31-2024-tbt75777.html</a></p>

Machine learning algorithm sets Dogecoin price for January 31, 2024

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