Dogecoin (DOGE) is the favorite cryptocurrency of Tesla founder Elon Musk and, in combination, the king of memcoins, which has secured a place in the top 10 most capitalized coins. The BeInCrypto editors asked experienced experts to talk about what the first month of autumn could be like for DOGE. We tell you what Dogecoin forecast for September 2023 was given by our interlocutors
Gracie Chen, Managing Director of Bitget crypto exchange, drew attention to the fact that the “health” of DOGE largely depends on the general trend of the digital asset market. Recall that the direction of the market movement is set by its flagship – bitcoin (BTC). Earlier, the editorial staff of BeInCrypto collected a bitcoin forecast for September in one review. According to our interlocutors, BTC can interrupt the series of failures and demonstrate growth in early autumn.
At the same time, Elon Musk plays a decisive role in the behavior of DOGE, according to our interlocutor. The businessman whose tweets are 37% of Americans used to make investment decisionshas repeatedly contributed to the ups and downs of the cryptocurrency rate.
Interesting! In early April, Musk changed the “bird” — the much-loved social network logo — to a dog, which became the symbol of Dogecoin. The coin reacted with growth. Unfortunately for investors, a couple of days later the businessman returned the “bird”. Dogecoin, as expected, reacted with a fall.
In early August 2023, Musk announced that he had no plans to launch his own cryptocurrency. Recall that rumors that the businessman is preparing to introduce Twitter-coin have been on the market since December 2022. Many members of the crypto community took the message as a signal for the possible integration of Dogecoin into X (formerly Twitter), which is owned by the businessman. Rumors that cryptocurrency could become a social network payment tool were fueled by information that Musk received a license that allows him to offer fiat and cryptocurrency payment tools in seven US states.
“Unless Musk empowers DOGE and publicly endorses it, it is unlikely that DOGE will be able to break out of the general market trends and establish an independent trajectory. Instead, the coin will continue to follow the market movement,” Gracie Chen summed up her Dogecoin forecast, adding that it is difficult to expect significant positive changes within the project itself.
Dogecoin chart. Source: TradingView
Recall that earlier the editors of BeInCrypto understood how the appearance of cryptocurrency payments on Twitter will affect the price of Dogecoin.
Watch the latest cryptocurrency news, video reviews, collections of useful tips, guides and interviews on YouTube channel BeInCrypto. Subscribe, it will be interesting!
Dmitry Noskov, an expert at the StormGain crypto exchange, also gave his DOGE forecast for September 2023. In his opinion, memcoin investors should not count on the growth of the coin in early autumn.
“In September, DOGE is unlikely to show a significant rise and with a high degree of probability will continue to trade near the reached levels. The market value of this “meme” cryptocurrency will be able to stay above $0.06 only on the condition that other cryptocurrencies do not show a significant drop in the rate, ”our interlocutor gave such a Dogecoin forecast for September.
Recall that earlier the editors of BeInCrypto figured out how to profitably buy Dogecoin in 2023.
Disclaimer
All information contained on our website is published in good faith and objectively and for informational purposes only. The reader is solely responsible for any actions taken by him on the basis of information received on our website.
2023-09-02 10:46:00
#Dogecoin #Forecast #September #Expert #Opinions
