The Dogecoin whales dumped a total of 570 million coins worth an astounding $92.5 million last week. The major meme currency is soaking nearly 2% in a week, attracting bearish feelings. Currently, it is one of the worst cryptocurrencies in the digital asset market with little or no prices.
Doge has been soaking nearly 49% since the start of the year, sliding only south of the chart. Donald Trump had vowed to a high of $0.41 in mid-January. Elon Musk’s intimacy with the US president went double digits on the dogcoin surge, but fell sharply after he entered the White House.
What’s next for Dogecoin?
Recent price forecasts show all the rally, so we don’t expect much from Dogecoin over the next 30 days. On-chain metrics and price forecasting company Cincodex estimates Doge could reach $0.17 in a month. Doge is currently hovering at the $0.163 mark and is projected to surge at under a cent.
The biggest dogcoin could rise over the next 30 days at just 5% from the current price. So, if the forecast turns out to be accurate, a $1,000 investment could be $1,050. Trading platforms collect trading fees equivalent to the profits they earn and are not considered appropriate returns. Most investors want dogcoins to reach the dollar mark, but meme currency is receding.
The $1 goal has become a distant dream as the wider market is covered in tariff fear. The 90-day tariff suspension announced by Trump is an ashes-covered disaster that could ignite in July. If Trump doesn’t scrap the tariffs imposed on 185 countries in July, the entire market could become tanks. Dogecoin can be even more immersed and can lead to huge losses for investors.
