Dogecoin price has increased by 1% in the last 24 hours and now stands at $0.085864with a significant increase of 43% since last month. Memecoin has certainly benefited from this strong growth thanks to the acquisition of Twitter by Elon Musk for 44 billion dollars, but the social network is currently going through a crisis after hiring a new director. It seems less likely that DOGE can continue its long-term uptrend.
The price of DOGE remains 88% below its all-time high of $0.731578, reached in May 2021. It still has a long way to go before it regains its former all-time high.
Dogecoin Price Prediction: Elon Musk Issues Ultimatum To Twitter Employees, Will DOGE Grow?
The DOGE indicators show a mixed picture, with its relative strength index (purple) enjoying a strong rise after reaching 40 and now suggesting a possible rebound. On the other hand, its 30-day moving average (red) may have climbed above the 200-day moving average (blue), indicating a possible downtrend.
This rather dark and confusing situation did not help the fundamentals of Dogecoin, which is very closely tied to Twitter and the latter acquisition of Elon Musk. In fact, Twitter 2.0, as the American billionaire likes to describe it, has already suffered a massive series of resignations from its employees in a matter of days.
These resignations come amid Elon Musk giving an ultimatum to his employees, the director asking them to commit to a stronger and more intense company culture, and by extending the increase of the time of work. But it now appears that many employees do not appreciate the new vision that the founder of Tesla and SpaceX is putting forward for the social network.
In fact, some estimates suggest that 75% of the 3,700 Twitter employees Musk quit anyway. As a reminder, Elon Musk previously fired 50% of all Twitter employees, as soon as he stood down. To make matters worse, the company officially announced that its San Francisco office will remain closed until Monday.
Now, observers expect Twitter to suffer a cascade of technical issues, with a dwindling number of employees available to repair the damage. The hashtags #RIPTwitter and #TwitterDown have been trending for hours, indicating the mood of the moment.
All these events strongly affect Dogecoin because so far these gains in recent times have been strongly linked to a hope that Elon Musk will introduce Dogecoin payments on Twitter. Now it looks hard to see that happen, with Musk trying to convince his engineers to stay with the company.
As a result, DOGE’s gains since late October will almost certainly be erased in the coming weeks as Elon Musk’s acquisition of Twitter stops falling. Of course, it is quite possible that the American billionaire will manage to turn the situation to his advantage by proposing a crypto integration of Dogecoin, but at the moment it seems very unlikely.
Note that old reports indicate that Musk has already returned the crypto integration, because the Twitter boss wants to prioritize the organization of a new subscription system. As a result, it may be a long wait before DOGE gets another boost from Elon Musk.
At the same time, it is important to point out that DOGE’s fundamentals are very weak for such a large market cap. On the technical side, when we look at the Dogecoin developers’ changes on GitHub for 12 months, we can see that it is ranked 108th place, behind Ocean Protocol.
The lack of progress for the Dogecoin protocol shows that its recent gains are the result of hype more than anything else. It also has several partnerships, with seasonality a seller Internet declaring to accept some for its online store.
In other words, leaving aside the relationship with Elon Musk, DOGE doesn’t have much to offer at the moment. And with Elon Musk’s name possibly becoming toxic over the failed Twitter takeover, such an association could do more harm than good in the future.
Other promising altcoins
While DOGE appears more likely to fall than rise in the short term, there are several altcoins that show tremendous potential for return on investment, even in the turbulent context of a market still shaken by the fall of FTX.
The altcoins we are going to show you are currently in their pre-sale phase, which means that investors can get them at a discounted price before they are listed on the exchanges, and recent history has shown that this is it is possible to earn huge profits. .
The three altcoins to watch are the projects with presales that look the most interesting. Each of these tokens has strong fundamentals, and their respective presales continue to attract investors.
Dash 2 Trade (D2T)
Dash 2 Trade is a trading platform based on the Ethereum blockchain where investors can take advantage of a wide range of market analysis tools and technical indicators. These tools aim to help investors make decisions under the best possible conditions.
With an expected launch in the first quarter of 2023, the presale of its native token D2T has already raised more than $6.4 million. There was also the announcement of a listing on BitMart and LBANK Exchange for early next year, confirming that investors will have the opportunity to trade the token on good terms.
Feel free to consult the Dash 2 Trade official website
Calvaria (RIA) is a new crypto gaming project that relies on trading collectible cards, represented in the form of NFTs, and can also be used to fight other players and get rewards. What makes it different from other titles is that users can play without having to pay a single cent. In addition, they do not need to have cryptocurrencies, which will make the game more popular among casual players.
Within its ecosystem, the RIA token will be used to purchase in-game items and for the stacking system, giving it a powerful utility. The presale for the token has already raised more than $1.8 million and is currently in its fourth phase, where 40 RIAs can be purchased for just 1 USDT.
Consult the Calvaria project website by clicking on this link.
Also based on the Ethereum blockchain, RobotEra (TARO) is a sandbox-like metaverse where players can team up with robots and participate in the creation of a shared virtual world. Its alpha version will be available in the first quarter of 2023, with an ecosystem that will allow users to create their own NFTs of lands, buildings and other objects integrated into the game.
1 TARO is currently selling for 0.020 USDT and can be purchased with USDT or ETH, however it should be noted that the price will soon increase to 0.025 USDT in the next presale phase.
Feel free to consult the official RobotEra website