Coincodex machine learning (ML) algorithm provided a bearish outlook for the price of Dogecoin. The ML algorithm predicts that the meme coin would experience a double-digit crash in January 2025.
Will Dogecoin Price Suffer a Double-Digit Crash?
Coincodex predicted that the price of Dogecoin would experience a 10.62% drop by January 27, 2025. This projected price drop will cause Dogecoin to drop to $0.28 from its current price level. This price prediction is based on technical indicators showing that the current feeling the most important coin is bearish.
THE Fear and Greed Index because the price of Dogecoin is showing 74, which indicates greed. Coincodex noted that Dogecoin recorded 14/30 (47%) green days with a price volatility of 11.78% over the last 30 days. Based on this DOGE price prediction, the ML algorithm said that it is not the right time to buy the meme coin.
Coincodex’s Dogecoin price prediction for February 2025 is also bearish as the ML algorithm predicts that the top meme coin will continue to hover around $0.28 that month. However, things could change in March, as the algorithm predicts that Dogecoin could finally surpass the long-awaited level. psychological level at $1.
Specifically, Coincodex predicted that Dogecoin price could reach $1.3 in March 2025. While this is bullish for Dogecoin, other predictions suggest that the $1.3 price level would mark the coin’s high largest currency of this market cycle.
This is contrary to the predictions of several analysts, such as Trader Tardigrade, who predicted that the meme coin could reach double-digit levels during this market cycle. Trader Tardigrade predicted that Dogecoin price could reach $30 by March 2025 if it replicates the 2021 bull run.
Gather at $11 on cards
In a post Dima James predicted that the price of Dogecoin would rally to $11 in 2025. This happened while analyzing Dogecoin’s monthly chart with a focus on the meme coin’s fourth year in each cycle. The analyst noted that during the first cycle, DOGE’s fourth year started at $0.00023 and ended at $0.000851, representing a 37x price increase.
Something similar happened in the fourth year of second cycle as Dogecoin price started at $0.00460 and ended at $0.17064, representing a 37x price increase. Along the same lines, Dima James predicted that Dogecoin would end 2025, the fourth year of this cycle, at around $11.65 if 2024 closed at around $0.315 and history repeated itself with a 37x price rise.
At the time of writing, Dogecoin price is trading at around $0.31, down over the past 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from TradingView