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Cryptocurrency News Articles
Dogecoin Price Prediction: DOGE Eyes $0.15 as Elon Musk Subtly Promotes the Meme Coin
Sep 22, 2024 at 09:25 pm
Elon Musk, the tech mogul known for his influence on cryptocurrency markets, may be quietly backing Dogecoin once again. While there hasn't been a direct
Tech mogul Elon Musk, who is also known for his influence on cryptocurrency markets, may be quietly throwing his support behind Dogecoin once again. While there hasn’t been a direct, overt endorsement, recent Twitter activity suggests that Musk is subtly promoting the meme coin.
Musk’s interactions with the Dogecoin community, such as retweeting posts from its designers and supporters, have raised eyebrows among investors, who are closely watching for any sign that could impact Dogecoin’s price.
These subtle hints might be a precursor to a more significant push, potentially driving up Dogecoin’s price.
Currently trading at just $0.106, Dogecoin has risen 2% today. Although it has dipped about 2% this week and 1% this month, positive sentiment surrounds Dogecoin, especially with a market cap of around $15.5 billion, making it the 8th largest cryptocurrency and the top meme coin.
Analysts suggest Dogecoin could reach $0.15, last seen in June. The relative strength index (RSI) sits at 56.1, showing rising demand. This trend indicates that buying pressure outpaces selling activity, putting Dogecoin in a moderately bullish zone with room for more gains.
Recent data shows a 39% increase in accumulation among large holders—those owning over 0.1% of the total supply—over the past week. This rise in whale activity reflects growing confidence among major investors, suggesting that if these trends persist, Dogecoin might gain even more.
Elon Musk’s influence is strong, especially as Bitcoin recently surged to just under $63,000, reaching a 30 to 45-day high. With the market sentiment shifting towards greed, shown by a fear and greed index reading of 50, Dogecoin stays solid, outperforming competitors like Shiba Inu.
Two main factors driving Dogecoin’s positive outlook are its ongoing adoption and Elon Musk’s recent social media activity.
An official Dogecoin tweet on September 10 highlighted a successful transaction at a University Sports Grill, showcasing real-world use of the cryptocurrency. Promotions like a 25% discount for Dogecoin payments further boost interest.
Elon Musk’s Twitter activity includes retweets that increase Dogecoin’s visibility. His interaction with Dogecoin’s graphic designer signals a strong effort to raise the coin’s profile. With Elon Musk’s large following, any positive mention can greatly influence Dogecoin’s market presence.
As excitement grows around Dogecoin, analysts feel optimistic about its future, especially if Elon Musk continues to show support. The current market conditions suggest a good chance for a price surge as the cryptocurrency sector starts to bounce back from recent lows.
If you’re looking for investment opportunities that could offer big returns and increase in value during the next bull run, check out our guide here for the best crypto presales of 2024.
Could Pepe Unchained become the next big meme coin?
Alongside established meme coins like Dogecoin, a new coin is generating excitement even before its launch: Pepe Unchained. This project has recently surpassed the $14.6 million mark in its presale.
Currently, investors can purchase $PEPU tokens in the ongoing presale for just $0.00983 each. The team accepts payments via ETH, USDT, BNB, and credit/debit cards. In a recent announcement, the team revealed plans to time the exchange launch for “maximum impact” on price growth.
Although the team has kept details under wraps, they have hinted that the upcoming exchange listings are “Tier-1,” which has caught investors’ attention. A major exchange listing, like Binance or OKX, can significantly raise a new token’s value, making this project even more exciting.
The Pepe Unchained team recently introduced developer grants called “Pepe Frens With Benefits” to enhance their ecosystem.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- Donald Trump Launches Commemorative $100 Coins as Part of His Campaign Cash Hunt
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