Dodo Price Prediction: Will DODO Price Hit $1 in 2023?

Key Takeaways:

• The Dodo price has surged more than 15% in the past couple of days and has reached a crucial juncture that may trigger a massive upswing soon
• The bulls are gearing up and appear to be poised to lift the price beyond the crucial levels, validating the end of the bear market
• The user activity is slowly surging over the platform which may keep up the volatility of the token in a long time

Dodo Price History

• Dodo, a decentralized exchange was founded in August 2020 while the token began its trading journey a couple of months later in October
• Soon after inception, the price soared high to hit the ATH above $8 amid the 2021 bull run 
• After holding for some time, the price dropped heavily and maintained a descending trend until the end of the year, 2021
• While a rebound was expected in 2022, the correction phase transformed into a bear market extracting more than 80% of the value to mark the bottom at $0.09 by the end of the year. 

Read more: 1inch Price Prediction

Dodo Technical Analysis

Source: Tradingview

• After triggering a rebound in the first few days of March, the DODO price began to trade within a decisive symmetrical triangle
• While the upcoming trend appeared a little misty, the recent breakout confirmed the flip from the bearish trend
• The price is expected to breakout from the triangle as the strength of the rally determined by ADX has displayed a bullish divergence
• Hence, after breaking out from these levels, if the price secures the levels around $2.02, then a significant upswing may kick in to trigger a notable rally ahead

Overview of Dodo On-Chain Analysis:

Dodo Sharpe Ratio

Source: Messari.io

The Sharpe ratio is used to determine whether the investment is profitable or attracting losses. It compares the return on investment with its risks. The ratio is determined considering the difference between the expected returns & the benchmark and further divided by the standard deviation of returns over the same period of time. A higher sharpe ratio is always preferred as it attracts more profits. 

Presently, the Sharpe ratio is surging high after undergoing a notable drop in the recent past. This indicates the investment in Dodo may offer excess returns relative to the volatility of the token. 

Dodo Real Volume

Source: Messari.io

The Volume is the total number of liquidity being traded over the platform throughout the day. It is the buy-sell orders being processed within a day. The volume directly impacts the volatility of the tokens which in turn impacts the price. A higher volume triggers high volatility that uplifts the price. Besides, a lower volume keeps the volatility low which compels the price to remain within a consolidated range. 

Presently, the volume of Dodo is fluctuating heavily after maintaining a stagnant trend for quite a long time. The increase in the volume also indicates higher participation of the traders who foresee a significant upswing in the longer time frame.

Additional read: Aave Price Prediction

Dodo Price Prediction for 2023

Dodo price has witnessed a massive thorough out in 2022 and marked the bottom. The price is trying to lay down a fine upswing since the beginning of 2023 indicating the growing strength of the bulls. Therefore, as the market sentiments are slowly flipping from bearish to bullish, the price is also expected to incur significant strength and find a strong base to trigger a giant price action toward the north. 

After a bullish close for Q1, Q2 is also expected to remain largely bullish. The price is currently displaying huge volatility that may keep up the bullish trend of crypto. The price may trade around $0.28 to $0.3 by the end of H1 and continue to rise high ahead. The price may intensify its upswing in the second half of 2023 and close the yearly trade around $0.75 to $0.82.

Dodo Price Prediction for 2024

The bullish close for 2023 may trigger a significant upswing since the beginning of 2024. The bulls are believed to exhibit acute strength due to which a fine upswing may prevail throughout the year. Although bears may try to restrict the price in between, they may not fight against the buying pressure. 

The price is believed to rise beyond $1 in the first few days of 2024 and maintain a fine upswing thereafter. The upswing may continue in Q2 where-in the price could close the trade at around $1.44. During the second half of 2024, the upswing is believed to transform into a bull run uplifting the price beyond $2 in no time. By the end of the year, the price may trade at around $3.5 to $4.

Dodo PRICE PREDICTION 2025-2030

The upswing is believed to continue in 2025 until the price reaches a 2-digit figure, marking a new ATH. However, beyond these levels, the bears who were passive for more than 2 years may get activated and begin to slash the price lower. The fallout may continue for the rest of the year and throughout 2026. The price may find some momentum in 2027 and ignite a considerable rebound which may begin the recovery phase. 

The DODO price may constantly form higher highs and lows in 2028 and leave very little room for the bears to thrive. Further, the bulls are expected to trigger a giant upswing which is believed to transform into a bull run in the last few days of 2028. The bull run may get intensified in 2029 and continue surging high until the first few months of 2030. By the end of the year, the price is believed to form a new ATH and remain consolidated after experiencing a minor pullback.

Should you invest in Dodo in 2023? 

Dodo’s price has been under immense bearish pressure after the market witnessed a gigantic drop during the 2022 bear market. Therefore, it appears to be poised to trigger a notable upswing in the coming days. However, before investing in DODO or any other token rigorous research on the market sentiments along with the core fundamentals is very important. A deep observation of the price movements may also help to manage the risks properly. 

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