Dogecoin Price Prediction by Elon Musk – Is DOGE Going to Hit $1?

Dogecoin Price Prediction by Elon Musk – Is DOGE Going to Hit $1?

Today, the Dogecoin price jumped by 8.8% and climbed to $0.092839. Reports Yesterday, Elon Musk, Twitter’s owner, stated that he is committed to integrating payments into the network. DOGE has risen by 11% over the past fortnight, and by 32% in the wake of the news. The market expects that the meme token will be one the main beneficiaries of Twitter’s crypto play.

Markets have long predicted that Twitter would one day receive dogecoin payments. If this expectation is fulfilled, DOGE will rise massively. The latest reports don’t mention dogecoin, and Twitter is reportedly developing its own digital currency. It is not certain that DOGE will be accepted by the social network.

Dogecoin Price Prediction by Elon Musk – Is DOGE Going to Hit $1?

DOGE’s chart clearly shows that altcoin is experiencing a breakout rally, with its relative strength indicator (purple), rising to 70 due to rising momentum. Its 30-day moving average (red), has also overtaken its 200 day average (blue). This again indicates that an indeterminate breakout is underway.

Today’s raly can be attributed to an article that was published yesterday The Financial Times Website, where insiders inform the outlet that Twitter is speeding up its payment plans. The social network has already applied for regulatory licences in the US.

It also states that Twitter’s payment systems will be “built in such a way that crypto functionality could possibly be added at a future point.” Although this is the only mention of cryptocurrency throughout the report, it was enough to trigger a rally in dogecoin. The coin reached a 24-hour high at $0.095126, after a low of $0.085494 for 24 hours (a 11% gain).

It is important to note that the insiders were not allowed to speak to the media at any point. The Financial Times Mention DOGE. The suggestion that Twitter’s payment services would only involve fiat currencies was also made.

It would therefore be premature to start buying large quantities of DOGE in the hope that it will soon rocket towards $1. In fact, the news about a “Twitter Coin”, a digital currency created by Twitter, has been reported in recent weeks. It may be able to replace Twitter’s need for dogecoin or any other cryptocurrency.

However, it is likely that Elon Musk will make sure that Twitter receives cryptocurrency payments if he has his way. This may be years away. To make fun of the dogecoin owners out there, DOGE could rise dramatically if Twitter integrates it.

DOGE supporters will continue to aim for $1 as the altcoin’s medium-to long-term price, keeping this in mind.

However, outside observers continue to suggest more realistic targets. For example, A panel of experts forecast In December, DOGE would close the year at $0.08 (It actually closed at $0.07) and rise to $0.19 in 2025.

These conservative targets will, of course, disappoint DOGE fans. They will likely prove to be more accurate than any DOGE holder in an age where Twitter adoption is not a given.

However, this doesn’t mean that DOGE is solely dependent on Twitter to determine price movements. Bitstamp also listed it, which saw it enjoy a small rally at the end of the year. According to CoinMarketCap, it is the fifth-largest exchange in the world. By volume

This suggests that DOGE may be more than just Elon Musk saving it.

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By David Warsh

David Warsh is a leading expert in the field of cryptocurrency and blockchain technology. With over a decade of experience in the industry, he has a deep understanding of the intricacies of digital currencies and the potential they hold for revolutionizing various industries.