Dogecoin price is now up 9% in the last seven days, fueled by reports that Twitter is moving forward with its plans to launch payments. At $0.091703, it has fallen 1% over the past 24 hours, although it gained over 10% between Monday and Tuesday, with the coin also up 30% over the past 30 days.
DOGE Rally After Monday’s Publish an article in financial Times, in which the newspaper reported that Twitter owner Elon Musk has begun ramping up the social network’s payment plans. This has resulted in a huge increase in buying activity, including with Whale, yet the fact remains that Dogecoin has not been explicitly mentioned in recent reports on Twitter’s payment strategy.
DOGE Soars Up 9% In 24 Hours As Dogecoin Price Predictions – This Is Where DOGE Is Headed In 2023
The indicators for DOGE suggest that the altcoin still has some rallying potential. Its 30-day moving average (red) surpassed its 200-day average (blue) in January, and it continues to rise above longer-term indicators, signaling the potential for further upside.
Furthermore, the Relative Strength Index (purple) for DOGE remains above 60. This is a good position as it indicates some degree of positive buying pressure, while also indicating that the coin is not overbought, so there is room for further upside.
The aforementioned have been the main catalysts for Dogecoin’s performance over the past few days. financial Times Article. Perhaps its most notable revelation was that Twitter has already begun applying for regulatory licenses across the US, which highlights just how far advanced the paid plan is currently.
While the report indicates that Twitter will initially roll out its payment services with only fiat currency (or currencies), it is decommissioning them “so that crypto functionality can be added at a later point.”
given Elon Musk’s long-standing championing of Dogecoin — As well as hinted last year that it might consider introducing the option to pay for Twitter subscriptions in DOGE – This mention of “crypto functionality” was enough to spark a wave of purchases, even though it was the only cryptocurrency mentioned in the entire article.
On top of this, it now appears that whale involvement as well as the effects of the report helped, with Sentiment’s analysis showing that more than 500 transactions of at least $100,000 each largely accounted for yesterday’s surge. were responsible.
Such a development can get DOGE holders extremely excited. Yet the point is that the insiders with whom the information was shared financial Times Doesn’t mention Dogecoin at all, so it’s too early to conclude that articles ‘proving’ payments in altcoins are coming to Twitter soon.
worse still, Elon Musk’s (in)famous “maybe even an option to pay in dog” tweet from April 10 has actually been deleted by the owner of twitter. Could this be a sign that he no longer wants to use altcoins on his social network?
In light of this, investing in DOGE just on the assumption that it is coming to Twitter seems very premature. On top of this, the past few months have seen information about a so-called ‘Twitter Coin’, an allegedly in-house digital currency that would eliminate the need for the social network to use pre-existing cryptocurrencies, including Dogecoin. Can do ,
However, considering that recently financial Times The article mentions that there is a real chance that DOGE could benefit as the cryptocurrency is likely to hit Twitter. And if the social network integrates with dogecoin, there is no doubt that the altcoin will see massive growth in the coming weeks and months.
Of course, such a scenario may seem a long way off, remaining a medium- to long-term goal for the $1 coin, rather than something it will achieve this year.
By 2023, a more realistic target for the end of the year would be in the area of $0.13. In fact, Recently released by crypto-exchange Changelly suggests that the average price of DOGE this year will be around $0.129987, with some analysts predicting a maximum of $0.15.
That would be a gain of about 63.5% on its current price, which is a pretty decent gain by any standards. And to be fair, DOGE has seen some good news in recent weeks, including news that major exchange Bitstamp will be listing it.
Needless to say, if Twitter does introduce dogecoin payments at some point, expect a lot of profit.
Is now a good time to buy Dogecoin
While DOGE may not rally in a big way in the near future, there are other high-potential crypto projects that are worth investing in with DOGE. Accordingly, we review the top 15 cryptocurrencies for 2023, as analyzed by crypto news Industry Talk Team.
The list is updated weekly with new altcoins and ICO projects.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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