Renowned analyst expects Dogecoin to continue rising toward $0.1
Amsterdam-based crypto trader and analyst Michael van de Poppe has shared a Dogecoin chart, stating that he expects the original meme coin DOGE to continue expanding toward the $0.10 level.
Currently, he noted, DOGE remains within the "buy the dip" zones of the chart.
Over the past week, DOGE has shown a rise of nearly 15%.
Well, $DOGE probably continues it's expansion towards $0.10 here.Still buy the dip areas. pic.twitter.com/ODqGyYdlae— Michaël van de Poppe (@CryptoMichNL) July 27, 2023
Dogecoin is the largest meme cryptocurrency by market capitalization value and the very first one launched in 2013 as a Bitcoin joke. Its market cap currently stands at $11,131,157,169, according to CoinMarketCap's website. It is followed by SHIB canine token, with its $4,632,194,305 market cap figure.
Dogecoin is the favorite cryptocurrency of tech billionaire Elon Musk, who runs Tesla and owns SpaceX, Twitter and a few other smaller tech companies working in various spheres — from tunnel building to the creation and integration of brain chips.
It was Musk's love for memes and his attention to DOGE (mentions in multiple hyped tweets) that allowed this meme coin to reach an all-time high of $0.7376 on May 8 two years ago. Now, Dogecoin is trading at $0.07931 — 89.24% below that historic peak.
In 2021, Musk tweeted that Doge is the "people’s currency," promised to "take literal Doge to the literal moon" (meaning a lunar mission of SpaceX paid for in Dogecoins), and he jokingly called himself "The DogeFather."
Now, Elon Musk is rebranding Twitter into "X," and many believe and hope, including international investor Raoul Pal, that Musk will integrate crypto payments on X to reward content creators and will use DOGE for it.