The machine learning algorithm at CoinCodex has taken a crack at predicting where the Dogecoin price will land in December. Despite the current uptrend in the crypto market, the algorithm is less than optimistic about the price of DOGE over the next month and the price prediction reflects this.
Dogecoin Price At $0.065
The CoinCodex machine learning algorithm has put the Dogecoin price at the $0.0657 mark in the next month. This price level is significantly lower than its current $0.076 price and is contrary to the belief of crypto analysts that the DOGE price is ready to keep pumping.
Such a decline in the price of Dogecoin would mean an approximately 17% drop in price but still leave it above its current 50-day Simple Moving Average (SMA) of $0.064. This could mean that the drop might be short-lived.
Interestingly, the current forecast is not a deterrent for investing in the coin as the site notes that it is a good time to buy Dogecoin. Also, add in the fact that the price forecast for the meme coin is much more bullish in the shorter term and the algorithm expects DOGE to reach $0.0795 in five days, “it’s now a good time to buy Dogecoin,” CoinCodex says.
DOGE price at $0.077 | Source: DOGEUSDT on Tradingview.com
When Will DOGE Reclaim Its Previous All-Time High?
Besides short-term price predictions, the machine learning algorithm has also given predictions for where the Dogecoin price will be in the next seven years and what year it will reach its previous all-time high price.
For 2024, the yearly high is placed at $0.345 and it’s even lower for 2025 where the price is placed at $0.181. The algorithm predicts the following two years 2026 and 2027 to fare even worse. But then this changes in 2028.
In the year 2028, the algorithm puts the price at $0.729 which is its 2021 all-time high. So the algorithm expects that the DOGE price will reach ATH once more five years from now. Then in previous bearish fashion, it expects the price to fall considerably between the years 2029 and 2030.
The Dogecoin price prediction from the CoinCodex machine learning algorithm is in stark contrast to its prediction for DOGE rival Shiba Inu. It puts the latter at a higher price of $0.0000097 in the month of December, which is a 10% increase from here.
The DOGE price is currently seeing losses of 2.07% in the last day to trade at $0.077. However, it is faring much better on the weekly chart with 8.08% gains.