Each week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in, or thinking about when managing and building their personal portfolios.
This week we asked the readers of Benzinga the following question: Will Dogecoin hit a new record by 2023?
For the uninitiated, Dogecoin DOGE/USD was introduced in 2013 as a joke to raise public awareness of the possibilities of blockchain technology. Although the Shiba Inu-based cryptocurrency was originally intended as a joke, it got a boost in 2021 thanks to its passionate online community.
Those most familiar with Dogecoin over the past year are well aware of how the cryptocurrency’s price action has correlated with celebrity influence, including but not limited to tweets from Tesla Inc TSLA CEO Elon Musk.
However, there are valid questions as to whether Musk’s influence on DOGE’s price action via tweet wanes sharply in 2022. Even in early 2021, Benzinga searched through some of Musk’s tweets about DOGE or associated allusions early last year leading up to the presented and followed the corresponding price movements… Read more
Here are the full results of this week’s survey:
Yes, Dogecoin will hit a new record by 2023: 68.6%
No, Dogecoin will not reach a new record in 2023: 31.4%
For context, a new all-time high for DOGE implies a price higher than the previous all-time high of $0.740796 on May 8, 2021. This sentiment study was conducted during an active trading week in which the meme cryptocurrency rose by about 16.2% to $0.1384.
See also: Dogecoin vs. Shiba Inu
This survey was conducted by Benzinga in March 2022 and included responses from a diverse population of adults aged 18 years or older.
Participation in the survey was completely voluntary, no incentives were offered to potential respondents. The study mirrors the results of more than 1,000 adults.
This post Will Dogecoin Hit a New Record by 2023? More than 60% say… was original published at “https://www.benzinga.com/markets/cryptocurrency/22/03/26313408/will-dogecoin-reach-a-new-all-time-high-by-2023-over-60-say”