According to cryptocurrency trader “bonethe DogecoinBitcoin (DOGE/BTC) pair will rise 100% in a “revenge pump”. Furthermore, the trader notes that the DOGE/USD pair currently looks like a “mess”.
Bluntz claims it would be “negligence” not to have a position in Dogecoin (DOGE). The trader expresses confidence that the value will increase in the future. Some other traders agree with this point of view and believe that DOGE’s explosive development is a harbinger of things to come.
Dogecoin (DOGE) is currently the only non-stablecoin cryptocurrency project in the top 10 in the green over the last 24 hours. While Bitcoin (BTC) and Ethereum (ETH) are down 1.4% and 1.6% in 24 hours, DOGE has gained 7.8% in the same time frame.
DOGEs current profits are attributed to Twitter to announce its application for legal licenses to enter the US payment business. Many expect Dogecoin to play a role in Twitter’s payment function, leading to more purchases. Twitter owner Elon Musk is one of the biggest DOGE advocates in the world. The billionaire’s tweets about the dog-themed token have often led to an increase in the price.
Read more: Will DOGE, McDonald’s and Elon Musk come together in 2023?
Will Dogecoin hit $0.10 in February?
In the coming weeks, the price of DOGE could continue to rise as the FOMC meeting turns positive. Otherwise, there could be a sustained downward movement for the overall cryptocurrency market.
However, Twitter’s payment feature plans could propel Dogecoin (DOGE) to new heights. The social media giant has Reportedly has attempted to apply for the permissions necessary to operate as a payment provider in the United States. Esther Crawford, head of product management at Twitter, has focused on the architecture of the new service in light of the research. Musk wants to make Twitter an “everything app,” the story claims.
At the time of writing DOGE trade at $0.092702, down 1.1% in the past hour.