Crypto influencers across Twitter and YouTube have posted bullish Dogecoin price predictions this week after several interesting tweets by Elon Musk, and a explosion in the DOGE price alongside other meme coins.
Elon Musk Retweets DogeCoin Twitter Account
It’s now been close to three years since ‘The Dogefather’ Elon Musk appeared on SNL to promote Dogecoin, sending it to its May 2021 all-time high of almost $0.74.
Since then the Dogecoin price has traded as low as just under $0.05 in the aftermath of the FTX collapse, and heading into March 2024 DOGE is priced at $0.12.
Yesterday Elon Musk shared the below video by ‘DogeDesigner’ (@cb_doge) the UX/UI designer at Dogecoin, and retweeted another of their posts on audio and video calls on X.
While it’s not yet confirmed, speculation is again now rife that DOGE may be implemented in some way onto X, a long-held hope by Dogecoin investors as far back as the early Twitter days.
On Tuesday Elon also posted that he’d ‘get back on the meme grindstone’.
Meme Coins Among Top Crypto Gainers
Bitcoin breaking out above $60,000 for the first time since November 2021 has caught retail traders’ interest, with old and new meme coins exploding in valuation.
Over the past seven days these top meme coins are outperforming BTC and ETH:
Dogecoin price is up 50%
Shiba Inu price is up 43%
Pepe price is up 147%
Bonk price is up 74%
Dogwifhat price is up 148%
Sponge price is up 13%
Also trending on DEXTools and DEXScreener are some recent meme token listings including Smog and Frog Wif Hat.
Can Dogecoin Hit $1 – Analyst Price Predictions
‘If $DOGE can close this weekly above $0.10 then there’s a good chance it finally manifests its destiny and goes to $1.’
His technical analysis marks out on the weekly Dogecoin price chart a clear break above the high ($0.107) that lead to the local low ($0.070).
That’s a similar pattern of higher lows and higher highs and an impulse move above the EMA 8 that kicked off Dogecoin’s bull run in 2021.
He considers it ‘possible’ for the Dogecoin price to reach $1 based on its improved fundamentals and ‘retailers getting back into cryptocurrency’ in 2024.
He did caution that the Fear and Greed index is showing ‘extreme greed’ and that Dogecoin will need to reach a $150 billion market capitalization with its current circulating supply to hit $1.
In the short term he’s targeting the $0.15 level and has also highlighted two upcoming meme coin launches, Meme Kombat (MK) which lists on Uniswap on March 5th, and Scotty the AIwhich has raised $1 million at presale.
The original ‘Dogecoin millionaire’, Glauber Contessoto, is also optimistic that the DOGE price is ‘going to one dollar’, posting that prediction in December.
