Dogecoin

Shiba Inu

Elon Musk

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-community-battles-market-uncertainty/" data-wpel-link="internal">Dogecoin Community Battles Market Uncertainty</a> 
As the number of memecoins entering the market increases, the <a href="https://coin-turk.com/binance-dogecoin-doge-para-cekme-islemlerini-gecici-olarak-askiya-aldi-iste-ayrintilar" data-wpel-link="internal">Dogecoin</a> community can prevent the cryptocurrency from sinking into uncertainty, but analysts are skeptical about investors’ hopes that the <a href="https://coin-turk.com/artik-eli-kulaginda-analiste-gore-elon-musk-bu-altcoin-ucuracak" data-wpel-link="internal">DOGE</a> price could reach $1 in this cycle. The targeted $1 level for <a href="https://en.coin-turk.com/the-surge-of-dogecoin-a-deep-dive-into-its-growing-adoption-and-on-chain-metrics/" data-wpel-link="internal">DOGE</a> represents a 36% increase from its all-time high in May 2021 of $0.73, and a 525% increase from today’s price of $0.16. 
<h2 class="p1" style="text-align: justify" id="key-data-points-for-doge">Key Data Points for DOGE</h2> 
CoinMarketCap data shows that last week DOGE gained 2.58%; this is significantly less growth compared to other major memecoin projects in the same time frame. The market value of the top three memecoin projects all saw notable price movements in the last seven days; PEPE rose by 43%, <a href="https://en.coin-turk.com/shiba-inus-shibarium-relaunches-on-layer-2-mainnet-analysts-predict-inevitable-rise/" data-wpel-link="internal">Shiba</a> Inu by 17.42%, and Dogwifhat (WIF) by 14.43%. 
CoinGlass data indicates that the total value of all outstanding or uncompleted DOGE futures contracts on exchanges has dropped from $2.15 billion on April 1 to the current level of $928.72 million. Despite the decline in futures market activity for memecoin, Rekt Capital suggests that the cyclicality in the DOGE chart indicates that <a href="https://en.coin-turk.com/massive-dogecoin-transfer-attracts-crypto-worlds-attention/" data-wpel-link="internal">Dogecoin</a> could still likely reach the $1 level in this cycle. 
<h2 class="p1" style="text-align: justify" id="dogecoin-and-community-power">Dogecoin and Community Power</h2> 
Dogecoin is known for its historical legacy and, as investors frequently point out on social media, it has largely predictable cycles. Blockchain investor Mane, in a post on April 24, told his 15,300 X followers that historical data shows DOGE generally sees a price increase throughout May. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-343908" src="https://coin-turk.com/wp-content/uploads/2024/04/mane-tweet.webp" alt="" width="500" height="460"> 
Rekt also considered potential social media posts by billionaire Elon Musk as a price factor, asserting that Musk is still highly interested in Dogecoin. Musk has been regularly interacting with well-known DOGE phenomenon DogeDesigner on X since April 17. 
In April 2023, Musk requested a U.S. judge to dismiss a $258 billion lawsuit against him, alleging he operated a pyramid scheme to promote Dogecoin. However, Musk recently hinted that his interest in crypto might have waned a bit. At a December 2023 X Space event, Musk told Ark Invest CEO Cathie Wood: 
<blockquote> 
 “I don’t spend much time thinking about cryptocurrency.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-community-battles-market-uncertainty/" data-wpel-link="internal">Dogecoin Community Battles Market Uncertainty</a></h5>

Dogecoin Community Battles Market Uncertainty

Table of Contents

COINTURK NEWS

Other articles published on Apr 24, 2024

The 3rd-Largest Bitcoin (BTC) Wallet Bought 1,400 More BTC Last Month

Hedera Price Prediction: HBAR Skyrockets 90% After BlackRock’s MMF Is Tokenized On Hedera As This...

Binance Launches Spot Copy Trading in Strategy Tools Expansion

Cardano & Polygon Communities Rally Behind Fezoo Exchange Presale, Expecting Substantial Gains Am...

US seeks 36-month jail sentence for Binance founder

Magic Eden overtakes Blur, Yuga Labs offloads NFT games: Nifty Newsletter

Join our free newsletter for daily crypto updates!