The price of Dogecoin (DOGE) has rose 1.10% in the last 24 hours, rising to $0.07717 while the cryptocurrency market as a whole increased by 1% on average.
The current price of DOGE means it hasn’t moved in the past seven days, but it’s still rising 12.88% in the last month and 10% since the beginning of the yearwith trading volume of the meme token reaching 500 million dollars yesterday and 313 million this morning, a decrease of 23%.
An opportunity exists for DOGE to make additional gains in the very near future, with speculation growing regarding the introduction by Twitter of payment options on its network, including cryptocurrency options.
Dogecoin Price Prediction as Trading Volume Hits $500M Following Elon Musk Twitter Coins Integration Rumors
The Dogecoin price chart seems to suggest that the meme token is on course for further declines, given that its indicators have been overbought for several days over the past week.
First of all, relative strength index (IFR) of the DOGE (purple) dropped to 40 overnightafter spending a long time above 70, it looks ready to head down towards 30, which means further losses.
More overwhelming still, the 30-day moving average of the altcoin (yellow) has clearly peaked and is now on its way to falling below its 200-day average (blue).
However, he still has a long way to go before falling to the level of the 200-day averageagain implying that DOGE could lose more value before recovering.
That said, the support level of the meme coin (green) has held firm recentlyproviding a base that could protect him from significant losses.
It can also be argued that Dogecoin maintains a very strong fundamental positiongiven recent speculation about Twitter’s push into digital payments and a potential integration payments based on DOGE.
The fact that payments in DOGE closer than ever was highlighted in the video above, which shows Elon Musk using a hypothetical example of Twitter users paying to read an article or post using the coin meme.
However, it should be noted that the video is not new and was first uploaded (on YouTube) in November 2022even before Musk owned Twitter.
Consequently, DOGE holders shouldn’t rush things and assume that this is a new video indicating an imminent integration of Dogecoin payments.
But with Musk’s recent rebranding of Twitter to X, it remains clear that the entrepreneur – and longtime DOGE holder – reshapes the social network in its image.
Given Musk’s fondness for DOGE for several years, it’s entirely believable to suggest that Dogecoin payments will eventually make it onto Twitter sooner or later.
For now, DOGE is unlikely to make any big moves, the currency potentially rising to $0.080 in the next weeks.
New High Yielding Altcoins
Since Dogecoin seems almost entirely dependent on Musk and Twitter for its gains, some traders might prefer to turn to alternative investments while they wait for a new concrete development in the DOGE payments saga.
Fortunately, there is currently no shortage of new altcoins to invest in, with a number of new tokens on presale promising to offer big returns to early stage investors once their sales end and they are listed on the exchanges.
One of the best new tokens on presale right now is the XRP20a new cryptocurrency that offers an Ethereum-based version of XRPallowing users to earn passive income by staking from it.
His presale started yesterdaymaking XRP20 available at a price of $0.000092with this low level meant to pay homage to the price XRP had in 2014, when it was extraordinarily cheap.
XRP20 therefore offers investors the possibility of making up for missing the original XRP the first time aroundbut it also has an interesting tokenomy that will make it deflationary over time.
The coin will have a maximum supply of 100,000,000,000 XRP20, of which 40% will be for presale and 40% will be set aside for staking rewards.
In addition to that, 10% of its total supply will be burned over time, helping to restrict its supply and stimulate relative demand.
As a result, XRP20 appears to be one of the biggest new pre-sales of the yearwith investors able to participate by going to its official website and connecting their wallets.
Visit XRP20 now
This article does not represent investment advice in any way. The information provided here should not be used as the basis for making financial decisions. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.