The dogecoin price has risen by 5% in the past 24 hours, reaching $0.077698 amid a rise in its daily trading volume to more than $800 million. Despite this gain, its current price means it has fallen by 8% in a week and by 21% in the last 30 days,
On the other hand, DOGE remains up by 30% since the end of October, when Elon Musk’s takeover of Twitter was confirmed. This takeover raised expectations that Twitter would introduce DOGE payments or tipping in some form, with the Dogecoin community remaining hopeful that this will indeed happen sooner or later, boosting the altcoin’s price considerably.
Dogecoin Price Prediction as DOGE Blasts Up 5% After $800 Million Trading Volume Comes In – Here’s Where DOGE is Going Next
DOGE is currently seeing an increase in momentum, with its technicals suggesting that today’s rally may continue over the weekend, if not longer.
Its relative strength index (purple) has begun rising after hitting almost 30 a couple of days ago, reaching a point where it had been distinctly oversold. And given that it’s still only at 40, it has plenty of room left to rise, supporting the idea that DOGE’s rally today could continue.
At the same time, the altcoin’s 30-day moving average (red) has stopped the decline it saw at the beginning of this month. It now looks like it could begin rising further above DOGE’s 200-day average (blue), indicating additional price gains.
The main short-term reason for DOGE’s rally today is that it has just gained a listing on Bitstamp, which according to CoinMarketCap is the fifth-biggest exchange in the world by volume. This is largely why volume for DOGE has increased so much.
Bitstamp’s listing stands as confirmation that interest in DOGE remains high among major cryptocurrencies, regardless of whether Twitter does ever introduce dogecoin-based tipping or payments in the future.
Of course, the Dogecoin community remains largely convinced that the social network will integrate in some way with DOGE.
The thing is, Elon Musk’s decision to step down as Twitter CEO (once a replacement has been found) has dented the credibility of such optimism. In fact, part of the reason why DOGE has risen today is that it’s recovering from the dip it took when Musk announced this decision.
As such, it remains up in the air as to whether we’re really see DOGE payments on Twitter, although with Musk obviously still the owner of the social media company, it remains a possibility.
Assuming it is still likely to happen, DOGE supporters continue to raise $1 as the altcoin’s medium-to-long term price target.
If Twitter doesn’t do anything with DOGE, then its price targets are definitely more modest.
For example, a panel of experts predicted this month that it would end the year at $0.08, and then rise to $0.19 by 2025. This is hardly the kind of ambitious target the Dogecoin community would like to see, but it seems more credible than anything higher right now.
While it may take a long time for DOGE to witness substantial price rises again, other altcoins present a higher probability of gains in the shorter term. In particular, presale tokens have had a big 2022, enjoying big gains following listings, even with the bear market.
For instance, Tamadoge (TAMA) posted gains of over 1,800% after listing for the first time. More impressively, Lucky Block (LBLOCK) and Battle Infinity (IBAT) witnessed increases as high as 6,000% and 3000% when they first listed earily this year, compared to their initial presale prices of $0.00015
The three coins below are hoping to match such performance. While they will need wider market conditions to be favorable to reach they same heights, they each have solid fundamentals and strong teams, giving them the best possible start for having a successful 2023.
FightOut (FGHT) is a move-to-earn app that rewards users for engaging in a wide variety of workouts, including boxing, weightlifting and yoga. Running on Ethereum and scheduled to go live in Q2 2023, it will also offer a range of in-app and IRL courses, with plans to launch up to 20 of its own branded gyms and to affiliate with many others.
Launched last week, its token sale has already raised over $2.3 million. The current sale price is 60.06 FGHT for $1 (FGHT can be bought with ETH or USDT), although this will rise during the sale’s next stage.
Dash 2 Trade (D2T)
Another Ethereum-based platform, Dash 2 Trade is a trading intelligence platform that will provide real-time analytics and social trading data when it launches early next year. Its initial features will include trading signals, on-chain analytics, strategy-building tools, and newsfeeds, all of which will help beginner and experienced traders stay ahead of the unpredictable cryptocurrency market.
The sale of its D2T token has raised over $10.5 million and is due to end in only 13 days, giving early investors a shrinking window of opportunity. Its first exchange listing will happen on January 11, with LBANK Exchange, Changelly Pro and Bitmart confirmed as the first trading platforms to support the altcoin.
Running on Binance Chain, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations. Also due to launch in the second quarter of next year, its aim is to widen access to carbon credits, with which it will reward users for charging their EVs at its terminals.
As a sign of how quickly it could grow, the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network. 1 CCHG currently costs $0.013, and can be bought using either BNB or USDT.