Dogecoin Price Prediction As DOGE Skyrockets After Elon Changes Twitter Name To X – Will DOGE Become Official Payment Option? -TGN

The Dogecoin price is up 5% in the past 24 hours, rising to $0.075537 after Twitter rebranded itself as ‘X’.

DOGE holders have interpreted the change as a sign that Elon Musk wants to continue his vision for Twitter, which to some means bringing cryptocurrency — and Dogecoin — payments to the social network.

Rekindling this expectation has caused DOGE to surge 2% in the past hour, while the meme token is also up 6% in a week and 12% in the past 30 days,

However, it would be premature to assume that Twitter’s rebranding means it will soon integrate DOGE payments, and no one at the social media company has mentioned such a possibility since Elon Musk bought it in October 2022.

Dogecoin Price Prediction As DOGE Skyrockets After Elon Changes Twitter Name To X – Will DOGE Become Official Payment Option?

DOGE’s indicators have skyrocketed in recent hours, following Twitter’s rebrand, though it’s not clear how long the current momentum will last.

For example, DOGE’s relative strength index (purple) shot up to 70 a few hours ago, a sign of strong inbound momentum.

However, it has since dropped back to 60, implying that DOGE’s rally may already be calming down.

On the other hand, the altcoin’s 30-day moving average (yellow) continues to rise above its 200-day moving average (blue), so it is still possible that it could gain more in the coming hours or days.

This possibility is also suggested by the DOGE (green) support level, which has been rising steadily over the past few weeks, giving the altcoin a higher base to chase new highs.

As mentioned above, the origin of Dogecoin’s power today is once again Elon Musk and Twitter, the latter of which has been renamed ‘X’ and changed the famous bird logo.

This has led people to believe that the introduction of cryptocurrency and/or DOGE payments is not far away some observers notice that Elon Musk changed his location on his Twitter/X profile to “𝕏Д (the latter being the symbol of Dogecoin).

While Musk flirted with the idea of ​​Dogecoin payments on Twitter when he first proposed buying the social network (back in 2022), he has not outlined explicit plans to introduce such payments since taking ownership of the network.

Instead, he has continued to give “hints” like the one above, which a cynic would probably argue are merely attempts to raise the price of a cryptocurrency. he claims to be the owner.

Yet there have been reliable reports that Twitter/X plans to bring payments to its platform in some formeven if it’s likely to start with fiat-based transfers.

As such, we can’t rule out the possibility that DOGE will come to Twitter/X one day, and then collect en masse.

But for now, it could reach as high as $0.078 in the next few days before potentially hitting $0.080 in the coming weeks.

Presale tokens seem to be rising rapidly

It is likely that it may be some time before DOGE experiences a truly substantial rally, forcing traders who want more immediate or short-term gains to look elsewhere.

Many may do well to watch the pre-sale, with some of the biggest and best pre-sale tokens often rising sharply once they’re listed on exchanges.

Possibly the only presale coin with the best chance of doing this is Wall Street Memes (WSM), a new ERC-20 token that has already raised more than $17.4 million in the presale.

Born out of the online stock movement responsible for the 2021 GameStop and AMC rallies, Wall Street Memes has been able to quickly cultivate a strong online community, with his Twitter account now has more than 255,000 followers.

The fact that it has such numbers behind it is a big part of why it has been able to raise so much money so quickly, with its decentralized tokenomics also helping to attract supporters to its project.

Indeed, 50% of the supply is allocated to pre-sale, with another 30% going to community rewards, something that should encourage greater community engagement.

While there’s not much time left, new buyers can participate in the WSM pre-sale by visiting the official Wall Street Memes website, with 1 WSM now selling for $0.0322.

This will rise to $0.0337 by the time the sale ends, after which WSM could make big profits once the token listings appear on trading platforms.

Visit Wall Street Memes now

Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.