Dogecoin Price Prediction as DOGE Shoots Up 26%, Elon Musk Hints at Twitter Integration
Dogecoin price continues to see consecutive surges, now for the second week. After taking a hiatus at $0.1500, DOGE retreated slightly below $0.1200 before spiking again amid hints of its integration into Twitter.
A clear break above the intermediate resistance at $0.1600 will be the gateway to highs beyond $0.1200. Remember, analysts and experts believe that Dogecoin has the potential to reclaim its all-time high at $0.7315 amidst its quest for $1.0000.
Elon Musk Hints at Dogecoin and Twitter Integration
The new owner and CEO of the microblogging platform, Twitter, has today hinted at the integration of Dogecoin into Twitter. Musk took control of the social media platform after completing his $44 million deal late Thursday last week.
Changes began immediately with the firing of the company's CEO, Parag Agrawal. Two other top executives were shown the door, including the firm's CFO, Ned Segal and the head of policy Vijaya Gadde.
According to the news media, The Guardian, Twitter employees are bracing for mass layoffs as Musk carries out a restructuring process. Up to a quarter of the staff at Twitter are unlikely to survive the layoff, as outlined by The Washington Post.
Elon Musk's tweet – containing a Halloween-themed pumpkin with the Twitter logo engraved to it and a Shiba Inu dog wearing a Twitter-branded T-shirt- elicited excitement across the board, with investors renewing their bet on Dogecoin's ability to keep the uptrend intact.
The post has been interpreted to mean that Musk is working on integrating Dogecoin on the social media platform. This teaser could be massive for the meme coin if it sees the light of day, and with Elon Musk, the self-proclaimed Dogefather, at the company's helm, DOGE's integration could be a matter of when and not if.
The Dogecoin community has anxiously waited for this development since Musk purchased a 9.1% stake in Twitter. At the time, Musk was the largest single investor in the company. He was requested to join the board, but the business mogul rejected the offer.
Elon Musk is deliberating introducing a service subscription fee for the coveted blue verification check. Users will need to part with $20, most probably paid in DOGE, per month to keep the blue tick.
In his defense, Musk says that Twitter has to make money somehow and cannot continue depending on advertisers. While discussing with the renowned author Stephen King, who said that he would leave Twitter if the $20 fee is introduced, Musk suggested a lower fee of $8.
"I will explain the rationale in longer form before this is implemented. It is the only way to defeat the bots & trolls," Musk added.
Dogecoin Price Prediction
All eyes are now glued on Dogecoin following its 26% spike to $0.1515. Its related trading volume across exchanges holds at $9 billion and will likely shoot above the $10 billion mark in the coming sessions.
Dogecoin is among the most bullish assets in the crypto market. Its uptrend continues uninterrupted and oblivious to the early week correction that started on Monday. Bitcoin price is slightly in the red while trading at $20,631. Ethereum price is down 1.3% to exchange hands at $1,602 at the time of writing.
The largest meme coin faces a temporary hurdle at $0.1600 in its short-term journey and could tag $0.2000. Most parameters – on-chain and technical exhibit a bullish outlook for DOGE.
For instance, the MACD (Moving Average Convergence Divergence) buy signal is still intact. With the 12-day EMA (Exponential Moving Average) staying significantly above the 26-day EMA, odds are bound to favor the bulls. Besides, the MACD sits on top of the mean line while maintaining a positive gradient.
According to the RSI (Relative Strength Index), Dogecoin is largely in the bulls' hands. Their aggressiveness has held since mid-last week when the price broke above a descending trend line at $0.0630, illustrated on the chart.
If bulls hold the fort, investors can expect Dogecoin's price to extend beyond $0.20. Nevertheless, the extremely overbought RSI calls for caution among traders and investors, especially those wanting to lock in the gains at the peak. As the RSI reverses into the neutral zone (below 70.00), sell orders could flip profitable.
In a commentary about Dogecoin price, the Head of Crypto Insights at Bybit, Charmyn Ho, says that the news about its integration into Twitter as the platform's native currency could keep fueling the rally.
"The memecoin's rally has been fueled by anticipation of DOGE being integrated into Twitter as a native currency for the social media app has also been brewing following Musk's takeover.
Only time will tell how sustainable this move will be. However, it's clear that the crypto markets are far more resilient than they were ever given credit for, and their disruptive influence will continue to be felt into the future," Ho explained.
Dogecoin Has Peaked -Instead, Buy D2T, IMPT, RIA and TAMA
Dogecoin price rally could be nearing an imminent reversal before it carries on to $1.0000. However, investors have the opportunity to get a piece of four promising alternatives, including Dash 2 Trade (D2T), IMPT, Calvaria (RIA) and Tamadoge (TAMA).
All the selected altcoins possess solid fundamentals that could eventually outperform other altcoins in the market, including Dogecoin. D2T, IMPT and RIA are currently holding their presales, presenting investors with a golden opportunity to hop onto the trend early.
Dash 2 Trade
Dash 2 Trade is a new cryptocurrency built on the Ethereum PoS blockchain. It is a world-class platform that provides investors with accurate signals and market information to make proper decisions. Dash 2 Trade is just like the Bloomberg Terminal but dedicated to cryptos.
Traders and investors using Dash to Trade will have access to timely signals and real-time data to test trading strategies.
D2T is the token powering the analytics dashboard. It is an ERC-20 standard token with a total supply of 1 billion. Interestingly, this supply will remain fixed, with no additional tokens created in the future.
So far, approximately $3.7 million has been raised in the ongoing presale. D2T sells for $0.05, but this price will increase to $0.0513 in the next presale stage.
IMPT is an innovative crypto project offering various opportunities for users to acquire carbon credits from the IMPT.io marketplace. The platform is bridging the gap to a greener environment by allowing individuals and corporations to help fight the climate crisis.
The team is said to have partnered with over 10,000 biggest retailers to help users offset their carbon footprint while shopping. From the IMPT marketplace, users can sell, retire or hold their carbon credits as an investment.
In just four weeks after its launch, the IMPT token presale has brought in more than $11.8 million, catching the attention of many crypto experts.
Given its fundamentals, it is likely that IMPT will rise dramatically from its presale price once listing on exchanges starts.
Calvaria is a project centered around spearheading the mass adoption of crypto but in a revolutionary way using a play-to-earn card game. The team hopes the platform will function as an ambassador between the "real world" and the crypto space.
The game will be accessible via a mobile app and on the PC, making it competitive within the Web2 gaming market. Players on Calvaria will be rewarded for battling with NFT-based collectible cards.
Calvaria flaunts its uniqueness across the P2E and NFT sectors by enabling users to play without holding any crypto.
RIA, the gaming platform's native token, is currently in presale, having raised over 1 million USDT. Stage 3 of the presale is 77% complete, with 50 RIA tokens selling for 1 USDT. This price will keep rising in the next stages of the sale.
Although Dogecoin is nearing its peak, investors can expand their portfolios with Tamadoge (TAMA). This token is trading at $0.0344 after climbing 20% over the last 24 hours.
TAMA has tapped into a relief rally as it gains the ground it lost from its all-time high of $0.19. Crypto experts believe Tamadoge has the potential to rise to $1.00 faster than any other meme coins – Dogecoin and Shiba Inu included.
Investors can consider TAMA discounted following the pullback from the record high while focusing on the crypto project's important utilities. Tamadoge uniquely brings together P2E gains, NFTs and the metaverse. Investors can already buy rare Tamadoge NFTs on OpenSea.