Dogecoin Price Prediction as Robinhood Stores 33.5 B DOGE

    Pathik Bhattacharya
    Pathik Bhattacharya
    Published on March 14, 2023 09:30 AM

    According to recently released data, Robinhood retains approximately 25% of circulating DOGE for its clients, increasing DOGE to more than 6%.

    Dogecoin Price Prediction as Robinhood Stores 33.5 B DOGE
    Source: Unsplash

    Weekly Dogecoin price prediction is here. Experts are keeping a close eye on the popular trading app Robinhood, which still holds a large amount of the meme-inspired cryptocurrency. According to data from @DogeWhaleAlert, the app currently holds 33,562,118,379 Dogecoins, which is equivalent to $2,206,373,662. While this is slightly less than a week ago, it still accounts for 24.23% of the DOGE supply in circulation.

    In the midst of this news, a big amount of Dogecoin was delivered to Binance, one of the largest cryptocurrency exchanges, with the cooperation of a top 20 wallet. An anonymous wallet sent $3,197,660 in Dogecoin to another anonymous wallet. Furthermore, over 15.5 million Dogecoins were transferred to Binance from various unknown wallets. Finally, a top 20 wallet transferred 14,999,980 DOGE, which is little less than $1 million, to an anonymous address.

    All of these trades total almost $4.3 million in Dogecoin value. Since the cryptocurrency market continues to be turbulent, Dogecoin price prediction experts are constantly tracking these moves to understand how they may affect the value of the meme-inspired digital asset.

    Dogecoin Price Prediction

    At the time of writing, the price of Dogecoin is $0.073030 USD, with a 24-hour trading volume of $628,422,514 USD. Dogecoin has increased by 7.15% in the previous 24 hours. DOGE is currently ranked #9 on CoinMarketCap, with a market cap of $9,688,974,426 USD. The circulation supply is 132,670,764,300 DOGE coins, and the maximum supply is not known.


    Dogecoin Price chart

    Source: CoinMarketCap

    Dogecoin Price Prediction: Weekly Chart

    Dogecoin has been more than 3% up this week and showing a potential to carry on this pace up till the next week as far as expert’s Dogecoin price prediction is taken into consideration.

    As per Dogecoin price prediction, trend lines are making a descending triangle which indicates a near future bull run. The bull run will be supported by the support line at $0.0726 price as it is now the critical support dogecoin is trading at. If everything goes right, dogecoin supporters can see a rise within the next week. 

    However, market uncertainties like closing of financial banks and depegging of stable coins are making the scenario worse. If fundamental factors affect the price and take the price below the support level, dogecoin will bleed red candles severely.

    The MA is at $0.082 which isn’t very much far away from the trading price. Relative strength index is at 43 and still on rising which indicates that investors are getting into the market.

    Dogecoin weekly price chart

    Source: TradingView

    Dogecoin Price Prediction: Daily Chart

    Dogecoin price prediction appears to show the market following a bullish movement, with volatility entering a closing movement, thereby tightening the market. The cryptocurrency's price stability minimises the risk of suffering significant fluctuations. The maximum price of the DOGE cryptocurrency at the moment is $0.0732, while the open price is $0.0728. DOGE's lowest price is currently $0.0727, with a -0.08% change and a close price of $0.0727.

    The DOGE/USD is currently in a negative trend, having fallen below the Moving Average curve. But, there is a chance of a trend reversal when the price moves upwards into the resistance band. This increase in volatility may favour the bulls, leading to a breakout and more possibilities for bullish activity.

    The Relative Strength Index (RSI) was 42, indicating a stable DOGE value in the lower neutral range. Also, the RSI score is rising, indicating that there is an expanding market with strong buying activity. This signifies that the market is on the rise.

    The MACD is exhibiting red spikes which shows a bear market. But the good news is the peak has gone and in near time sooner or later,green histogram could be seen.

    Dogecoin daily price chart

    Source: TradingView