Dogecoin

The sudden appearance of a new X Payments account on Elon Musk’s social media platform X (formerly Twitter) sent the Dogecoin (DOGE) price vaulting higher over the weekend amid a massive boost to sentiment. 
The Dogecoin price pumped over 16% on Saturday, hitting its highest level in around one month near $0.10. 
The new <a href="https://twitter.com/XPayments">@xpayments account</a> is yet to post any tweets. 
But traders speculated that the account will reveal that Dogecoin will play a role in a future X payments platform and that this could substantially boost the Dogecoin price. 
<a href="https://cryptonews.com/tags/elon-musk/">Elon Musk</a>, who bought Twitter in late 2022, has long been an avid <a href="https://cryptonews.com/coins/dogecoin/">Dogecoin</a> supporter. 
Daily trading volumes have surged since Saturday, as per <a href="https://finance.yahoo.com/quote/DOGE-USD/history?p=DOGE-USD">Yahoo Finance data</a>. 
DOGE/USD worth nearly $700 million changed hands on major crypto exchanges Saturday. 
The <a href="https://cryptonews.com/news/is-dogecoin-a-good-investment.htm">Dogecoin</a> market then saw nearly $1 billion in trading volumes on Sunday. 
That’s more than triple the average daily trading volumes seen last week between Monday and Friday. 
<a href="https://www.coinglass.com/BitcoinOpenInterest">Coinglass data</a> also shows a sudden surge in open interest in the Dogecoin futures market. 
Open interest (i.e. the dollar value of outstanding Dogecoin futures positions) jumped $100 million on Saturday to over $410 million. 
Meanwhile, a sudden spike in the open interest-weighted funding rate paid by traders taking out leveraged futures positions suggests that most of Saturday’s new leveraged bets were bullish. 
But as the broader crypto market declines, short-term <a href="https://cryptonews.com/news/dogecoin-price-prediction-as-1-billion-sends-doge-soaring-14-1-doge-incoming.htm">Dogecoin price predictions</a> may remain bearish. 
That’s unless Elon Musk’s X Payments account can deliver a massive rally. 
<h2 id="dogecoin-doge-price-prediction-massive-rally-incoming">Dogecoin (DOGE) Price Prediction – Massive Rally Incoming?</h2> 
 If Elon Musk’s X decides to integrate Dogecoin into its highly anticipated payments system, the Dogecoin price could pump. 
That’s because an X Payments integration would drastically increase the utility and adoption of the cryptocurrency. 
Meme coins like Dogecoin can experience rapid short-term rallies on bullish narratives like this. 
Dogecoin’s long-term technicals are also looking good. 
After breaking above its long-term downtrend from the late 2021 highs, the Dogecoin price is holding above its 200DMA. 
If the Dogecoin price can break above its $0.056-0.107 2023 range, the sky is the limit. 
Dogecoin could certainly 10x this bull market to hit new all-time highs. 
<h2 id="meme-coin-alternative-to-consider-sponge-v2">Meme Coin Alternative to Consider – Sponge V2</h2> 
 But Dogecoin’s prospects depend heavily on Elon Musk’s plans. 
Dogecoin thus remains a highly risky bet. 
Crypto investors with a high-risk tolerance who are looking for a better chance of near-term gains should look no further than <a href="https://cryptonews.com/visit/sponge">Sponge V2</a>&nbsp;($SPONGEV2). 
Sponge V2 is the reincarnation of the legendary Spongebob Squarepants-themed $SPONGE token, which reached a market cap of nearly $100 million earlier in 2023 and delivered gains to its earlier investors in the region of 100x. 
$SPONGE token holders will be able to stake their tokens to receive an equivalent amount of $SPONGEV2 tokens, as well as to start earning staking rewards (paid out in $SPONGEV2) with a minimum APY of 40%. 
Over $5 million worth of $SPONGE tokens have already been staked and are gaining an APY of over 300%. 
 <a href="https://twitter.com/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPONGE</a> Update! 
We've hit a new milestone with 5,390,882,888 tokens staked, valued at $5,233,589.24! 
With a current APY of +300% and a price of $0.0009663 (+18% increase), <a href="https://twitter.com/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPONGE</a> is stronger than ever. 
Don't miss out, join the takeover! <a href="https://twitter.com/hashtag/SpongeV2?src=hash&amp;ref_src=twsrc%5Etfw">#SpongeV2</a> <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw">#Web3</a> <a href="https://twitter.com/hashtag/Alts?src=hash&amp;ref_src=twsrc%5Etfw">#Alts</a> <a href="https://t.co/GMhqAnTehI">pic.twitter.com/GMhqAnTehI</a> 
— $SPONGE (@spongeoneth) <a href="https://twitter.com/spongeoneth/status/1748285419685617948?ref_src=twsrc%5Etfw">January 19, 2024</a> 
$SPONGEV2’s main advantage over $SPONGE is that it will power a new play-to-earn game racing game. 
 Get set to explore the unique <a href="https://twitter.com/hashtag/PlayToEarn?src=hash&amp;ref_src=twsrc%5Etfw">#PlayToEarn</a> game in <a href="https://twitter.com/hashtag/SpongeV2?src=hash&amp;ref_src=twsrc%5Etfw">#SpongeV2</a>! 
Play, enjoy, and earn <a href="https://twitter.com/search?q=%24SPONGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPONGE</a>! 
Visit our website to get involved before it's too late. <a href="https://twitter.com/hashtag/P2E?src=hash&amp;ref_src=twsrc%5Etfw">#P2E</a> <a href="https://twitter.com/hashtag/Bullish?src=hash&amp;ref_src=twsrc%5Etfw">#Bullish</a> <a href="https://twitter.com/hashtag/MemeCoin?src=hash&amp;ref_src=twsrc%5Etfw">#MemeCoin</a> <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw">#Web3</a> <a href="https://t.co/bI8DLlgfA9">pic.twitter.com/bI8DLlgfA9</a> 
— $SPONGE (@spongeoneth) <a href="https://twitter.com/spongeoneth/status/1747302841776013370?ref_src=twsrc%5Etfw">January 16, 2024</a> 
Hype surrounding Sponge V2 has driven significant gains in the price of the original Sponge token in recent weeks. 
$SPONGE gained another 20% on Friday to near its all-time highs just above $0.0012. 
The meme coin is up an impressive near 10x since the start of November. Sponge Price Chart / Source: <a href="https://www.dextools.io/app/en/ether/pair-explorer/0xf935f557e06a7d040dea4691f90c9a755301818b">DEXTools</a> 
At a still tiny market cap of $22 million, the meme coin has a lot of potential upside as traders keep flocking to Sponge V2. 
<a href="https://cryptonews.com/visit/sponge">Visit Sponge V2 Here</a> 
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Dogecoin Price Prediction as Elon Musk’s X Payments Boosts Sentiment – Massive Rally Incoming?

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