Is dogecoin a good investment for 2023? This is a more useful and promising crypto

2022 is about to end and Dogecoin shows more than right result! If the crypto market fell, the signal DOGE still managed to appear at the top of the basket with a “only” 54% loss in the past year. It seems that our favorite memecoin has, in fact, passed the torments of various crashes and hacks with more serenity than the others.

But is this enough to recommend buying DOGE for the year 2023? Well hard to say. So far, Dogecoin is just one token that managed to rise to the top, thanks in large part to Elon Musk. Seriously, DOGE has no real use in the crypto landscape yet even if some rumors advertise that it could be a method of payment in large structures like Twitter.

We give you an overview of the situation about it right away, when a new project was announced and we invite you to watch it!

Dogecoin: wet firecracker of the crypto world?

Who would believe it, there is still an iconic sign like a beaten dog Top 10 best cryptos. It is also 8th in the ranking according to the site CoinMarketCap and can boast of close to 10 billion dollars in market capitalization.

But why does such a signal manage to perform so well? The one line answer is the “community effect”. As Dogecoin’s strength is not its intrinsic convenience, but the image it conveys. Gradually the token became part of the crypto landscape and its image is now an integral part of it.

The Musk hype was the spark that ignited the signal at the top. As of now, Dogecoin is a true symbol and rumors abound. However, it cannot be denied that DOGE will have to register more as a useful sign to be able to assert its dominance.

And for that, what better than the one who has driven the dog to the stars. With Elon Musk joining Twitter, all eyes are on Dogecoin to find out if it will be the reference currency of the social network.

His new toy, Musk has big ambitions and wants to make it a true ecosystem in itself with its creator compensation system like Youtube can do (but without cryptos). If these rumors were to be confirmed, there is no doubt that the price of the token would explode within minutes.

Elon Musk wants to leave Twitter according to a tweet

Probably too good to be true, the CEO announced on December 21 that he planned to leave Twitter. In one of his tweets, he said he was waiting for someone crazy enough to take the case to come forward.

I will become CEO as soon as I find someone stupid enough to take the job! After that, I’ll just run the software & server teams.

— Elon Musk (@elonmusk) December 21, 2022

There is no need to panic so quickly. Elon Musk had already shown some inconsistency in his comments when he indicated that he no longer wanted to buy Twitter before doing so. Let’s not forget that he is a special businessman, and that his grandiloquent tweets on the platform are well known to the general public.

Unfortunately, it is true that Twitter isn’t quite what Elon Musk envisioned. He also confirmed that almost half of the accounts on the social network are “fakes”. Our man has probably overestimated the possible results of his new acquisition. In addition, it should not be denied that its recent decisions, especially regarding the certificate that became payable, are not unanimous among users.

There is no doubt about that if it came from Twitter, there would be an eye around Dogecoin affiliated with Twitter to break. For those who were hoping for a signal explosion soon, he probably needs to water down his wine a bit.

What does technical analysis say about Dogecoin?

Looking at the numbers from an objective perspective, the picture looks mixed. TradingView Indicators Point to an Oversold Situation like many other cryptos in this bear market period.

Dogecoin is currently oscillating between its descending and ascending support level, without really taking a particular direction. According to analysts, the future price of the crypto will be largely determined by which line is broken first.

In the event of a positive breakout, the Dogecoin The price could then rise to $0.09 in 2023. If, on the contrary, there is a negative break, the Dogecoin could present new lows.

Current price of DOGE from the CoinMarketCap site over a period of 1 month.

In short, Investing in Dogecoin is now very uncertain. There is no doubt that the actions and statements of Tesla’s CEO will have a major impact on the price of the latter in the coming days and months.

Dogecoin is therefore a crypto-asset that is currently very difficult to evaluate. he however, many new projects have been promised who have a bright future ahead of them.

FigOut: a promising Move to Earn project for 2023

The advantage of the crypto market is its unfailing dynamism with a whole series of new creations every week. And if the news about Dogecoin has turned you off, others may be interested in you.

At the top of the list, FightOut, Move to Earn’s new project is revolutionizing its genre. The simple principle is to create an ecosystem around fitness, by incorporating a whole bunch of fun and profitable features.

Fight Out in the form of an application that will reward its users for their training sessions. The latter will receive $FGHT tokens for their efforts. And that’s not all, an avatar will be provided, and will gain proficiency as the sports sessions are performed.

The team even plans to establish connected sports halls to measure the performance of their users! In short, FightOut aims to combine the experience of physical training with the digital world. A great way to bridge the gap between the crypto world and physical reality!

The FightOut presale is underway

If you believe in this project, we invite you to visit the site for more information. The pre-sale of the first $FGHT tokens is currently underway and lets you get them at a very reduced price.

Don’t miss this opportunity to be an early adopter #Fight Out! ⚡️

Remember, the sooner you buy the cheaper!

Join the pre-sale now and get up to 50% bonus (limited time only)! 👊⬇️https://t.co/z34Nkx3ffi pic.twitter.com/G7VTCjcZkf

— Fight Out (@FightOut_) December 29, 2022

Currently, 2.5 million dollars have been collected for a prize equal to 1 $FGHT = 0.0166 USD. This price includes a 50% price markdown and will end when $5 million is raised. Half way done. If you want to take advantage of this opportunity, you will have to hurry before the offer ends.

Crypto-assets are a risky investment.

Check out our top 10 pre-sale projects to continue discovering promising projects for 2023.

This article does not represent investment advice in any way. The information provided here should not be used as a basis for making financial decisions. Investing in cryptocurrency involves risk and can result in significant losses. You should only invest what you can afford to lose and do your own research before making any investment decision.