The price of Dogecoin has fallen by 4% in the past 24 hours, following the reinstatement of the Twitter account of Donald Trump, 45th President of the United States. DOGE, however, remains up 23% in the past week and 14% in the past 30 days. Trump’s return to Twitter suggests that Elon Musk will also fulfill other promises he made for the social network. And that includes, among other things, the integration of Dogecoin payments.
If the price of DOGE is up in the medium term, it is largely thanks to Musk’s acquisition of Twitter, for $44 billion, which was completed at the end of October. This takeover caused this cryptocurrency to rise, because Elon Musk had suggested in the past that he might integrate the altcoin in some way. This increase, however, has recently been mitigated by the bankruptcy of FTX and the subsequent fallout across the crypto industry as a whole.
Dogecoin price prediction following Donald Trump’s return to Twitter – DOGE integration to be expected?
While he has lately announced his presidential candidacy in 2024 with a major rally, Donald Trump has not benefited in any way from his return from exile from Twitter. The only thing he did was update his bio.
The return of the ex-president to the social network follows a survey launched by the new owner, Musk. This allowed him to gauge users’ (and likely bots’) opinion of Trump’s possible return to Twitter. This survey, itself following earlier suggestions from Mr. Musk himselfwho had previously hinted that he would reinstate Mr. Trump’s account.
Although Trump himself has no direct dealings with Dogecoin (as far as we know), this poll nonetheless demonstrates Musk’s seriousness about implementing the changes he has proposed, while the acquisition of Twitter was still under negotiation.
And as Dogecoin proponents no doubt already know, one of those changes includes the introduction of DOGE payments. Indeed, Musk raised the possibility of allowing users to pay for the Twitter Blue subscription service using the altcoin, last April.
Of course, anyone the slightest bit skeptical could argue that such a tweet merely represents Musk’s ‘thinking aloud’, with no real guarantee that he will follow through.
However, Musk is a holder and a known supporter of Dogecoin, having already introduces DOGE payments for select Tesla products last January. It is therefore not that unlikely that he will integrate Dogecoin or cryptocurrency payments on Twitter at some point. Of course, these are just guesses and there is nothing official, yet, about such an integration.
It should also be remembered that Mr. Musk promised to introduce a long list of features and improvements. Because of this, it is impossible to know where “Dogecoin payments” fall on this list, in terms of priority.
Thus, it remains possible that the price of Dogecoin may suffer further in the short term, especially given the FTX bankruptcy saga which is not over.
Its relative strength index (purple), however, has climbed over the past few days, indicating better momentum. Likewise, its 30-day moving average (red) continues to break above its 200-day moving average (blue), which also indicates rising momentum.
Taking these indicators into account, it is possible that DOGE will continue to see its price rise in the coming days, before potentially falling again. All of this, of course, in case the market witnesses further contagion effects from the FTX crash.
As for a bigger increase, that would depend, in large part, on Twitter announcing some sort of DOGE checkout feature. However, it could take some time (months or even years) to materialize.
Other altcoins that can offer faster returns
In the meantime, the most impatient traders and investors can turn to crypto-assets with a greater chance of experiencing substantial gains in the short term. In most cases, these are tokens that are currently being pre-sold and will soon be listed on exchanges.
Indeed, while 2022 was a largely disappointing year for the market as a whole, some new cryptocurrencies saw increases of up to 1,800% from their pre-sale price this year. This highlights the potential of some pre-sale cryptos with strong fundamentals. So here is our pick of three of the most promising cryptocurrencies to date.
Dash 2 Trade (D2T)
Hosted on the Ethereum blockchain, Dash 2 Trade is a smart trading platform. It provides real-time analytics as well as social trading data to investors. All this information allowing them to make more informed trading decisions.
Its launch is scheduled for the first quarter of 2023 and the sale of its native token, D2T, has already raised more than $7.3 million. Listings on BitMart and LBANK Exchange are also planned for early next year, giving early investors a good opportunity to earn attractive returns.
Discover Dash 2 Trade now
RobotEra (TARO)
RobotEra (TARO) is a Metaverse like Sandbox, which should launch its alpha version in the first quarter of 2023. Within its Ethereum-based platform, players will be able to embody robots and participate in the creation of a virtual world, including land, buildings and other in-game objects, in the form of NFTs.
The current price of a TARO is 0.020 USDT, and it is possible to buy it using USDT or ETH. However, this price will drop to $0.025 in the second stage of its presale, which will start soon.
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Calvaria (RIA)
Calvaria (RIA) is a blockchain-based card game, where players can battle with their NFT cards and get rewards. One of its coolest features is that it allows people to play it without holding any cryptocurrency. This may well help make it more popular than other titles requiring the use of cryptocurrencies.
The RIA will be used within its ecosystem for purchasing in-game items and for staking, giving it practical utility. The pre-sale of the token raised $2.1 million and is currently in its fourth phase. During this one, it is possible to buy 40 RIA with 1 USDT.
Visit Calvaria now