Dogecoin Price Prediction As Elon Musk Reveals He’s Considering Crypto Payments To Twitter – Can DOGE Hit $1?

Dogecoin price surged 8% today to $0.092839. Yesterday, we received reports that Twitter owner Elon Musk has decided to move forward with the integration of payments into his network. DOGE said he was up 11% in two weeks and he was up 32% on the news. The market expects Meme his token to become one of the primary beneficiaries of Twitter’s cryptocurrency play.

The market has long hoped to see Dogecoin payouts on Twitter one day, and if this expectation comes true, there is no doubt that Doge will rise significantly as a result. However, the latest report does not explicitly mention Dogecoin itself, and Twitter is also reportedly working on its own digital currency, so there is no guarantee that the social network will accept Dogecoin.

Dogecoin Price Prediction As Elon Musk Reveals He’s Considering Crypto Payments To Twitter – Can DOGE Hit $1?

DOGE’s chart reveals that the altcoin is currently enjoying a breakout rally, with the relative strength index (purple) rising to 70 as a result of the increased momentum. At the same time, the 30-day moving average (red) has broken above his 200-day moving average (blue). This indicates that a breakout of indeterminate duration is currently underway.

The main reason for today’s rally is the article published yesterday. financial times On the website, insiders say Twitter is accelerating its payment plans and the social network has already applied for regulatory licenses across the country.

The report also states that Twitter’s payment service will be “built so that cryptographic capabilities may be added later.” Clearly enough to trigger a rally, the coin reached a 24 hour high of $0.085494 followed by a 24 hour high of $0.095126 (up 11%).

Of course, it should be emphasized that the insider never spoke. financial times Mention DOGE. They also appeared to suggest that Twitter’s payment service would initially only use fiat currencies. Additionally, as we saw on Facebook-Meta, there is the fact that Twitter could run into considerable regulatory backlash.

As such, it is too early to start buying large amounts of DOGE in the belief that DOGE will rise towards $1 soon. In fact, the past few weeks have brought news of the so-called “Twitter Coin”. This is an in-house digital currency that reportedly may negate the need for Twitter to use dogecoin (or any other existing cryptocurrency).

Still, despite such reservations, if he gets his way, Elon Musk would guarantee Twitter would make some kind of cryptocurrency payment somewhere (although that could be years away. And as a humor for Dogecoin holders, if Twitter integrates DOGE, it is very likely that DOGE will rise significantly.

With this possibility in mind, DOGE proponents continue to target $1 as the medium- to long-term price for altcoins.

Meanwhile, observers outside the Dogecoin community continue to suggest more realistic goals. For example, a panel of experts said in December that he predicted DOGE would end the year at his $0.08 (actually ending at about $0.07) and then rise to $0.19 by 2025.

Needless to say, such a conservative goal can disappoint hardcore DOGE enthusiasts. But in a world where Twitter adoption is not taken for granted, it could be more accurate than DOGE holders suggest.

This is not to say that DOGE relies solely on Twitter for price action. He also rose slightly at the end of the year when he was listed on Bitstamp, the fifth largest exchange in the world by trading volume according to CoinMarketCap.

This suggests that there may be a little more going on with DOGE than the simple hope that Elon Musk will save him.

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