The price of Dogecoin has been steadily increasing over the past few days. Because of the dramatic rise in price, the question now is how much higher DOGE can go. In this analysis we want to answer this question and present another interesting option for attentive buyers.
With the temporary change of the Twitter logo at the beginning of April, the price of meme coin exploded. It rose from $0.076 to around $0.100. So the cryptocurrency once again proved the dependence between him and the billionaire Elon Musk.
Because every time the boss of Tesla and Twitter mentions the coin in an interview or tweet, the price of DOGE rises dramatically. On April 3 he climbed particularly high. But unlike in the past, this increase seems to be trying to have a lasting effect on the course.
The increase continues this week
The price increased slightly after three days and initially moved in the area just above the USD 0.080 mark. However, compared to other exponential increases, this one produced only a relatively weak correction.
And also in the last seven days the price of DOGE rose again. Since April 13, it is again in an upward curve. Only a few short corrections can be noted there.
Currently, the price of DOGE is at the $0.090 level after rising another 1.20 percentage points today. The market cap increased to $12.51 billion in the last 24 hours.
Looking at the price of the meme coin over the past 10 days, it can be assumed that investors plan to support it in the long term. But how high could that increase?
Can the price keep up? The reasons speak for it
So the question now is, how much is the current rise different from those of the past? Because crypto investors want to know which cryptocurrency will explode? Coordinating the right timing of investment.
One reason that could talk about a continued rise in the price of DOGE is its connection with Elon Musk and Twitter. The entrepreneur is a self-confident crypto advocate and regularly promotes one coin or the other.
However, it was built especially with the Dogecoin. Again and again he mentions it on Twitter or in a TV appearance. So the coin depended. It seems that price now depends on these references from Musk.
Much exciting hype – who knows! But remember, dev is continuous and you can be a part of it!
Even if you don’t code, dogecoin can always use translations and creative ideas!
Heart Node: https://t.co/ZaM2ae8gMn
libdogecoin: https://t.co/cyR4ovAGH7 https://t.co/8QoJk82IXH
— Dogecoin (@dogecoin) April 3, 2023
Initially, the meme coin benefited from its integration into the merchandise store of the multi-million dollar company Tesla.
But Musk attracted a larger audience by buying Twitter. Through actions like the one a few days ago, the Dogecoin also gets more attention. In addition, the CEO of Twitter announced before the official purchase that he wanted to establish cryptocurrencies on the social media platform. It is conceivable that DOGE is his first choice here as well. Plans for this have not yet been published.
Another factor that suggests the course can benefit from growth in the long term is the current healthy environment. Since the beginning of the year, most crypto courses have been on the rise.
After a brief slump in March, Bitcoin and Co were able to record further gains. These are due to the macroeconomic environment, among other things. Interest rate news and inflation data are once again giving investors hope. The timing of the DOGE rally is therefore particularly favorable.
The bank crash in the US also ensures that cryptocurrencies get more attention than usual. It now seems that many investors are considering these as an alternative.
If you are also new to the crypto sector, here we present you new crypto projects.
A new meme base with a use case: Love Hate Inu has grown in popularity
Right now, the market seems to mean well for the Doge coin. The coming weeks will show how strong the rally will develop. Until then, another meme token could also benefit from the rise in DOGE.
There was a stir because of the Love Hate Inu Coin even before the official token launch. Because the demand developed very quickly. Just a few days into the pre-sale, support looked strong. As of today, the development team can already look forward to 4.3 million USD.
Good morning #LoveHateInu Team! ☀️🐶❤️💔
Great news to start the day! 🎉
We have reached $4M in our #Presale rise!💰💰💰
Thank you all $ LHINU Voters, viewers and creators of the future! 🙏🏼👀🎬
Join the community today and start voting!🌟🗳️https://t.co/Pu2Bo8WOUy#AltCoins pic.twitter.com/kPn2hVBw3L
— I Hate Inu (@LoveHateInu) April 14, 2023
One reason for this strongly developing demand is probably the use case that the developers are planning. You want to send a new Vote to Earn cryptocurrency with the LHINU token.
On the platform, users should be rewarded for participating in surveys. This should be possible, among other things, by coupling the bet. Because only users who have previously placed coins in the project should be able to participate in the offer.
In addition, the users should also decide which content should receive space in the surveys. The more tokens users enter into the offer, the higher the reward should be.
So far, the white paper seems to have been well received by investors. A month after the pre-sale was released, over 35,500 people have followed LHINU’s Twitter account.
The previous principles of Movement or Play to Play have been modified here with one important feature, his own opinion. The founders want to appeal to a large number of people with their website. This should happen, among other things, through important materials. Even if a funny and flashy design appears on the scene, important topics such as politics should be dealt with there as well. Transparency and openness should play a special role here.
In our Love Hate Inu forecast you can find out what the future prospects of the cryptocurrency are and how you can buy the Love Hate Inu coin. The pre-sale is divided into several stages. When one of these is completed, the price will automatically increase.
Currently, it seems that more and more crypto traders are interested in meme coin. Some don’t grant any use case, for example the DOGE, others want to offer their holders an important use case. In any case, an increase in the price of any of these fun currencies could lead to an increase in general for this type of cryptocurrency.