Michael van de Poppe, a cryptocurrency trader and analyst based in Amsterdam, presented a Dogecoin chart and stated that he anticipates the original meme coin DOGE to keep growing towards the $0.10 mark.
He pointed out that DOGE is still trading in the chart’s “buy the dip” areas.
The price of DOGE has increased by around 15% in the last week.
By market capitalization value, Dogecoin is the biggest meme cryptocurrency and the first one ever, having been introduced in 2013 as a parody of Bitcoin. According to CoinMarketCap, it has a market cap of $11,131,157,169 at the moment. SHIB canine token, with a $4,632,194,305 market value, comes in second.
Due to Musk’s appreciation of memes and his focus on DOGE (which was mentioned in several hyped tweets), this meme coin was able to hit an all-time high of $0.7376 on May 8 two years ago. Currently, Dogecoin is trading at $0.07931, which is 89.24% less than its previous high.
In a tweet from 2021, Musk referred to Doge as the “people’s currency,” pledged to “take literal Doge to the literal moon” (i.e., a SpaceX lunar expedition funded by Dogecoins), and jokingly referred to himself as “The DogeFather.”
Now that Elon Musk is renaming Twitter to “X,” many people anticipate and expect that Musk will incorporate cryptocurrency payments on X to compensate content producers and will utilise DOGE for it, among them international investor Raoul Pal.
