Dogecoin appears to be on steroids in the last seven days having put on a master class. Elon Musk’s favourite memecoin has pumped 119% and is looking poised to do more. Going through coinmarketcap, it can be observed that it has overtaken Cardano and Solana by market capitalization.
- The tech billionaire’s acquisition of Twitter is the reason for the current rally.
- Elon Musk’s favourite memecoin has pumped 119%.
- DOGE is currently trading at $0.1433, up 12.79% in the last 24 hours.
Why is Dogecoin Pumping?
This is the first time Dogecoin has risen this year, sparking optimism. Despite making enormous profits in the first half of 2021, the memecoin’s price hasn’t had much movement in the last year.
The tech billionaire’s acquisition of Twitter is the reason for the current rally. The price increase is primarily due to the expectation that DOGE will be integrated into Twitter.
Price Prediction For Dogecoin
Dogecoin has gained more than 30% in the last 24 hours after Elon Musk tweeted about his dog. DOGE is currently trading at $0.1433, up 12.79% in the last 24 hours. It began at $0.1253 and rose to a high of $0.1572 before settling at its current price.
DOGE has fallen back to its recent support level of $0.1360 after reaching new highs. If DOGE fails to maintain its momentum, it may fall below $0.13. The chances of DOGE pulling off another rally stunt are slim at this point, but you never can be too certain with this coin.
Elon’s tweets in the past have been known to have a positive impact on the price of Dogecoin. The pump this time, however, could be different because of the speculative utility of the memecoin, and this could tip the landscape and even cause a further pump. One thing is certain Dogecoin is most certainly going to enjoy a bullish November.