Dogecoin (DOGE) received support from adoption developments in 2022, although the digital asset’s price performance was overshadowed by its 2021 peaks. Indeed, with widespread market volatility, DOGE lost nearly 35% in 2022 alone.
Dogecoin (DOGE) price prediction for December 25 (Christmas Day 2022)!
As the year draws to a close and Christmas is fast approaching, it’s crucial to watch how the digital currency performs this festive period. Accordingly, examining DOGE’s previous performances on Christmas day can provide insight into how the eighth-ranked cryptocurrencies will trade towards 2023.
According to historical data available, Dogecoin has managed to record steady year-over-year (YoY) growth over the past three Christmases. It is interesting whether DOGE will repeat the gains in 2022.
Taking into account various technical analysis (TA) indicators, DOGE’s 2022 Christmas forecast is bearish and the asset is expected to trade at $0.065 on Dec. 25, according to the CoinCodex.com forecast. At press time, Dogecoin was changing hands at $0.10, down about 2% in the last 24 hours.
DOGE price prediction. Source: CoinCodex
On December 25, 2021, DOGE traded at $0.18, posting a year-over-year growth of about 3,900% from its 2020 value of $0.0045. On Christmas day 2019, the digital asset traded at $0.002088.
Also, the Dogecoin community on CoinMarketCap remains bearish on DOGE’s prospects towards the end of 2022. Leveraging the price prediction feature, the community predicts that Dogecoin will trade at an average price of $0.0975 on December 31, 2022. approximately 5% of the asset’s price at the time of publication.
DOGE social community price prediction. Source: CoinMarketCap
DOGE’s future prospects
Musk remains one of the biggest supporters of the meme cryptocurrency that launched with his acquisition of Twitter to further benefit DOGE. In particular, there is speculation that Dogecoin could be integrated as a payment option on Twitter.
DOGE’s performance has kept more than 60% of its owners in the snow. In particular, a large proportion of holders are likely betting on Dogecoin’s long-term prospects, given that 69% has accumulated.
On this line, the owners are optimistic, thanks to additional developments planned to improve the network. For example, recently there have been reports that Musk and Ethereum (ETH) founder Vitalik Buterin are planning to merge and further develop DOGE.
Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.