- Dogecoin (DOGE-USD) is crashing alongside other cryptos today.
- This comes as inflation rises beyond expectations.
- This has us diving into the latest price predictions for DOGE.
Dogecoin (DOGE-USD) price predictions are a hot topic on Monday as the digital asset suffers alongside others in a crypto crash.
The big news behind this crypto crash is a warning that the Federal Reserve could speed up its efforts to curb inflation. Last week saw the release of the May Consumer Price Index (CPI) data. It revealed that inflation is still rising despite the Fed’s current efforts.
So what does that mean for investors? Expect the Fed to quickly increase interest rates as it seeks to keep inflation down. That’s having a negative effect on the stock and crypto markets, reports Forbes.
Keeping these factors in mind, let’s see if experts think Dogecoin can recover from the recent crypto crash.
Dogecoin Price Predictions
- CryptoNewZ starts off our estimates for DOGE with an average price target of 20 cents by the end of 2023.
- FXStreet is next on our list with its forecast that the crypto will eventually return to 8 cents.
- Gov Capital joins our list of Dogecoin price predictions with a one-year estimate of 20 cents for the crypto.
- Digital Coin Price offers our final price estimate with an average of 8 cents for 2023.
All of these price predictions for Dogecoin estimate it will be higher than its current value, which is around 5.4 cents as of Monday morning.
DOGE is down 15.5% over the prior 24-hour period as of Monday morning.
Investors seeking out more crypto news are in the right place!
InvestorPlace has all the latest crypto news to get traders through the day! That includes price predictions for Bitcoin (BTC-USD) and Ethereum (ETH-USD), as well as an update on a BTC ETF. You can catch up on all of that at the following links!
More Monday Crypto News
- Bitcoin Price Predictions: Can BTC Make It Back Above $30,000?
- Ethereum Price Predictions: Will the ETH Crypto Go Back Up?
- Is a Bitcoin Spot ETF on the Way? These Crypto Investing Firms Believe So.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.