Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
This week, we posed the following question to Benzinga readers: By 2023, will Dogecoin reach 20 cents again?
For the uninitiated, Dogecoin DOGE/USD was introduced as a joke in 2013 to help raise public awareness of the capabilities of blockchain technology. Though the Shiba Inu-based cryptocurrency was originally intended as a joke, it gained momentum in 2021 thanks to its passionate online community.
Those most familiar with Dogecoin over the past year know all too well how correlated the price action of the cryptocurrency is to celebrity influence, including but not limited to tweets from Tesla Inc TSLA CEO Elon Musk.
There are, however, valid questions as to whether Musk’s influence on DOGE’s price action via tweet is sharply waning in 2022. Even back in early 2021, Benzinga sifted through some of Musk’s tweets on DOGE or associated innuendo beginning early last year leading up to the present and tracked the associated price movements… Read More
Here are the full results from this week’s survey:
Yes, Dogecoin will reach 20 cents again by 2023: 75.7%
No, Dogecoin won’t reach 20 cents again by 2023: 24.3%
For context- DOGE set an all-time high of $0.740796 set on May 8, 2021. At the time of publication, Dogecoin was higher by some 1.4% to $0.071.
See Also: Dogecoin Vs. Shiba Inu
This survey was conducted by Benzinga in August 2022 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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