Future Forecast for DOGE from the Inventor of Dogecoin!

Dogecoin founder Billy Markus criticizes alarming speculation about the future of Dogecoin (DOGE).

Billy Markus says he has no idea what the DOGE price will be in the future

Billy Markus, one of the developers of Dogecoin, expressed doubts about the potential value of the meme coin on Twitter. Markus shared a screenshot of a news from FXstreet.

The headline of the news, referring to Dogecoin’s ATH price: “Dogecoin founder Billy Markus predicts that DOGE will never exceed $0.74 again”. According to the co-founder of Dogecoin, this is why the news should not be believed. The titles do not match the content. Also, there is no context.

Billy Markus corrects the article

Billy Markus continued, saying that the title of the article should be: “Billy Markus has no idea and does not think about how much Dogecoin will be worth in the future”.

However, as you follow on Kriptokoin.com, Markus talked to the DOGE community about the possibility of never seeing Doge at ATH level again. “We may never see it again,” he said in a June 20 tweet.

Dogecoin is currently trading at $0.06868, +8.92% from last week. Its price has been limited between $0.04972 and $0.351 for the past 52 weeks. In May 2021, the ATH level reached $0.7376. However, it is now trading at a 90.68% discount from this level.

Will Dogecoin reach ATH levels again? What does the on-chain data say?

Once upon a time, Dogecoin was in the headlines every day for everything. In this regard, he received great support from the billionaire. However, the hype has since died down and the meme coin’s condition is not helping much to recover. Anyone interested in Dogecoin can predict when Dogecoin will return to ATH levels again. Dogecoin’s troubles began when Tesla CEO Elon Musk described it as a rush during a Saturday Night Live show.

Since then, Dogecoin’s trend has accelerated to the downside. After hitting bottom last June, it has managed to recover somewhat in the last four weeks. It rose more than 50% from the 2022 low of $0.049 on that date to $0.076 on July 20. However, it retraced from an important Fibonacci retracement line.

Still, there is important recovery data for Dogecoin. Whales have been accumulating slowly over the past 30 days. We saw some outflows at addresses with the most significant balances from July 17-19. However, these addresses are once again accumulating Dogecoin. This means that the latest selling pressure may be limited.

However, DOGE is also one of the cryptocurrencies with a strong social interaction. The social dominance metric has been pretty active in the last 30 days, and especially in the last 24 hours at the time of writing. This is probably because some network upgrades have been announced. Of course, the upgrade goes hand in hand with the strong development activity that Dogecoin has recorded over the past few days.