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Dogecoin price prediction is positive as it broke above $0.0870 and is currently trading at $0.0910. Dogecoin, on the other hand, is struggling below the $0.0965 resistance level, which is extended by the 38.2% Fibonacci retracement level and the double top resistance level.
Let’s take a closer look at the market fundamentals and technicalities for Dogecoin.
Elon Musk may introduce a phone
On November 26, Elon Musk responded to a tweet by podcaster Liz Wheeler, who was concerned that under Elon’s new policy, Twitter would be banned from stores where the two smartphone operating system manufacturers sell apps that use iOS and Android apps.
In a tweet, Musk expressed concern that this did not happen. If he is wrong, he promised to build his own phone.
A new operating system and an online app store may also be included.
DOGE/USD rallied sharply after Twitter’s newly appointed CEO Elon Musk announced that the company would drop its smartphone if it struggled in major mobile app stores.
Speculations on the integration of Dogecoin with Twitter
Dogecoin (DOGE) continues to take center stage as Elon Musk, also known as “The Dogefather,” transforms Twitter. Since Musk acquired Twitter on October 27, 2022, top dog memecoin’s market cap has more than doubled from $10.6 billion to $21.77 billion on November 1, 2022.
Furthermore, with 396 million users worldwide, DOGE is the second largest Proof-Of-Work (PoW) cryptocurrency after Bitcoin. Musk praised Dogecoin as “the people’s cryptocurrency” and even joked that Dogecoin could be used to pay for his online requests. In this scenario, Twitter users will be able to reward creators with popular cryptocurrencies such as Dogecoin DOGE.
Musk confirmed this on Twitter Spaces, “Aya Dogecoin!” before confirming his support for the dog coin with his trademark wild dance moves.
Additionally, adopting Dogecoin as the default payment method on Twitter could break the ice for cryptocurrency adoption. The news that Twitter may soon integrate Dogecoin boosted the price of DOGE/USD.
Go to Proof-of-Stake
Gokhshtein Media founder and cryptocurrency podcaster David Gokhshtein believes Ethereum co-founder and Twitter CEO Elon Musk will collaborate to improve Dogecoin.
Gokhshtein tweeted on November 25 that he expects Musk and Buteri to work together on Dogecoin. Ethereum’s co-founder accepted this as he previously suggested in his comments that the original meme token uses a proof-of-stake consensus mechanism.
Musk is already working hard to make DOGE stronger.
Vitalik has the legal authority to approve such requests. He is a member of the Dogecoin Foundation, as well as an observer and co-creator of Ethereum.
Additionally, the transition to PoS is noted on Dogecoin’s roadmap.
Such a change could increase Dogecoin’s appeal, especially among cryptocurrency users concerned about the environment. This may have a positive effect on the price of DOGE/USD.
Dogecoin Price and Tokenomics
The current price of Dogecoin is $0.0919, with a 24-hour trading volume of $971 million. Dogecoin is up more than 4% in the last 24 hours. CoinMarketCap is currently ranked 8th with a live market cap of $12 billion. The circulating supply is 132,670,764,300 DOGE coins.
On Saturday, the DOGE/USD exchange rate opened the day at $0.0894 and rose to a high of $0.09539 and a low of $0.0890.
DOGE/USD completed a 38.2% Fibonacci retracement at $0.096 on the 4-hour chart. At the same time, the double top pattern extends resistance against Dogecoin, and candles closing below this level are likely to trigger a downward correction.
On the downside, immediate support for DOGE is at $0.087, and a break below that could push the price to $0.0800 or $0.0717.
Since then, leading technical indicators such as relative strength index (RSI) and moving average converging divergence (MACD) have remained in the buy zone, indicating the possibility of a continuation of the uptrend.
Furthermore, the 50-day moving average keeps DOGE bullish above $0.0800. Therefore, increased demand for DOGE could cross the $0.0965 resistance level and push DOGE to the extended $0.1040 or $0.1115 levels with the 50% and 61.8% Fibonacci retracement respectively.
Keep an eye on the $0.0965 level as it will determine Dogecoin’s future price action.
Dogecoin Alternatives
Dash 2 Trading
Dash 2 Trade, a platform for cryptocurrency trading intelligence and signals, has attracted investor interest after raising $7 million in just over a month. As a result, the D2T team decided to stop it at stage 4 and lower the hard cap goal to $13.4 million. The team decided to drop the hard cap for two reasons.
To begin with, a key pre-sale analytics dashboard was completed ahead of time, allowing for earlier deployment and immediate marketing efforts of pre-sale investment funds.
Second, and related to the first point, the market has evolved and made Dash 2 Trade services suitable for retail investors who want to do extensive due diligence after an FTX event.
Dash 2 Trade has also been successful, with two exchanges (LBank and BitMart) pledging to list the D2T token after the pre-sale ends.
1 D2T is now valued at 0.0513 USDT, but it will rise to $0.0533 in the final phase of the sale. D2T has so far sold more than 82% of its tokens, raising nearly $7 million.
Calvary (RIA)
Calvary is a new bitcoin gaming company with the potential to dominate the gaming market. According to the developers of Calvaria (RIA), the demand for cryptocurrencies to play has proven to be a serious obstacle to the widespread adoption of Web3 games. As a result, the game will offer both free-to-play and paid-to-win options, with a free-to-play option available for non-bitcoin players.
Since its inception, the presale has raised nearly $2 million and is now in its final stages after the developers decided to end it early. The pre-sale was supposed to go through ten stages and offer 300 million RIA tokens.
Calvaria has additional information here.
However, the founders have decided to revise the pre-sale offer, which means that the 5th phase will be the last opportunity for investors to buy RIAs before they are released to the public market, where prices are expected to increase.
Visit the Calvaria Presale now
RobotEra (TARO)
TAROT is another project that has the potential to change the gaming community and the virtual world. The initial sale of the asset has recently started, but there is already a lot of interest from potential buyers. The platform’s native token is TARO, which is a blockchain-based metaverse where users can create an avatar and explore the digital world.
Players in RobotEra can buy land, build on it, and expand their region with various infrastructures. The goal is to create a metaverse where everyone feels safe in their personal possessions.
TARO has raised more than $240,000 so far, and one TARO is currently selling for $0.020 USDT (which can be bought with either USDT or ETH), but this price will increase to $0.025 in the second phase of the presale that will start soon.
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