Dogecoin price has gained 1% in the last 24-hours to its current level of $0.085864, representing a 43% increase in the past month. Meme Token credits Elon Musk’s $44 billion acquisition of Twitter for much of its recent fortunes, but the social media firm is currently in disarray after its owner gave employees an ultimatum about its new work culture , it is now uncertain whether DOGE can continue its earlier momentum.
The coin is still down 88% from its all-time high of $0.731578 (set in May 2021), it has a long way to go before reclaiming its former record. This is especially the case when the global macroeconomic picture is taken into account, which still far outweighs any positives generated by Twitter’s new owner.
Elon Musk Makes Dogecoin Price Prediction as an Ultimatum to Twitter Employees – Can DOGE Rally Now?
DOGE’s indicators offer a mixed picture, with its Relative Strength Index (purple) rising above 40 and suggesting a potential rally. On the other hand, its 30-day moving average (red) has likely climbed above its 200-day average (blue), indicating a potential decline.
This confusing picture isn’t helped by Dogecoin’s fundamentals, which until recently have been heavily clouded by Twitter and Elon Musk’s ownership. That’s because Twitter 2.0, as musk likes to call ithas been persistent in the last few days by Reports of mass resignations by its employees,
These resignations came in the wake of Musk issuing an ultimatum, in which he demanded employees commit to a new, more intense workplace culture. Now it seems that many employees don’t like the vision the Tesla CEO and SpaceX founder is building for the social network, with many now leaving it behind.
In fact, some estimates suggest that 75% of the remaining 3,700 Twitter employees (Musk previously laid off 50% of the social network’s workforce when he took over the firm) have now effectively resigned. Worse, the company has announced that its office in San Francisco will be closed as of Monday.
now, Observers are expecting that Twitter will face technical problems, with a dwindling pool of employees available to resolve issues. The hashtags #RIPTwitter and #TwitterDown have been trending for the past few hours, reflecting the current mood.
This affects Dogecoin because its recent gains were based on speculation that Elon Musk would introduce Twitter payments and/or tipping in altcoins. Now, it seems the realization of such plans may not be far away, with Musk currently wrapped up in convincing engineers to stay at the firm.
As such, DOGE’s gains since late October may come to an end in the coming weeks, as Musk’s Twitter ownership is rapidly dwindling. Of course, he could indeed turn things around and eventually introduce some kind of integration with Dogecoin, but at the moment such a possibility seems increasingly distant.
really, earlier reports suggested Noting that Musk had already put cryptocurrency integration on the backburner, the Twitter owner urged employees to prioritize the rollout of the new membership system. As a result, it may be a while before DOGE receives another external boost from Musk.
Also, it needs to be said that DOGE’s fundamentals are very weak for such a large (in terms of market cap) cryptocurrency. When looking at GitHub commits over the past 12 months, for example, it’s down to 108thBehind the Ocean Protocol.
This highlights the relative lack of development for the Dogecoin protocol seen in 2022 (and earlier), meaning that its recent gains have been based largely on hype, rather than on the grounds that it is likely to drive adoption. Will overtake cryptocurrency. Here are some partnerships or examples of adoption to celebrate as well. Neglecting to Mention the Timely Report of Traders Accepting It This Year such acceptance Also came as part of the wider acceptance of various other cryptocurrencies.Ale
In other words, DOGE doesn’t have much going for it if you take away the association with Elon Musk. And with Elon Musk’s name potentially becoming toxic in the wake of his apparent flurry of Twitter acquisitions, such association could do more harm than good.
More Promising Altcoins
While it looks like DOGE currently has more chances of falling than rising in the near-term, there are at least a few coins that have the potential to post some decent gains, even in a bearish market. Despite the turbulence (mostly due to the collapse of FTX).
For the most part, these are new coins that are currently holding their presales. This means that investors can buy them at a substantial discount before they are listed on the exchanges, at which point RRecent History Has Shown They Can Rally Big,
The following are three of the most promising coins that are holding a pre-sale right now. Each of these tokens has solid fundamentals, with their respective sales rapidly gathering investors.
Dash 2 Trade (D2T)
dash 2 business Is an Ethereum-based trading intelligence platform where investors can access real-time analytics and social trading data, aimed at helping them reach more informed trading decisions.
Due to launch in Q1 2023, its native D2T token sale Has already raised over $6.4 million, It also announced listings on the BitMart and LBANK exchanges early next year, confirming that investors will indeed have an opportunity to lock up some real returns.
Calvaria (RIA)
calvaria (RIA) is a new video game that revolves around the collecting and trading of NFT-based cards, which can also be used to battle with other players and earn rewards. What sets it apart from other titles is that users will be able to play it without any crypto, which could make it more accessible to more casual gamers.
Within its ecosystem, RIAs will be used to purchase in-game items and place bets, giving it a strong use case within its ecosystem. The pre-sale for the tokens has raised just over $1.8 million and is currently in its fourth phase, during which there can be up to 40 RIAs for 1 USDT.
Robotera (Tarot)
also running on ethereum, robot era (TARO) is a sandbox-style metaverse in which gamers can play as robots and participate in the creation of its virtual world. Its alpha version will go live by Q1 2023, with its ecosystem allowing users to create their own NFT-based land, buildings and other in-game items.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), however this price will increase to $0.025 in the second phase of its pre-sale, which is set to start soon .
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