FX Street has bulked up its predictions for Dogecoin after Musk’s tweet, predicting a potential surge to 9 cents in the short term after holding the current 7-cent mark.European Business Review shares the same bullish sentiment as they also place shares of Dogecoin at $1 by the end of 2021.Coinpedia suggests that shares of Dogecoin could trade as high as $1 by the end of 2021.
Taking cryptocurrency trends, Dogecoin’s appeal and a potential listing on Coinbase into account, price predictions for the dog-faced coin are starting to become more bullish. Such a listing could be the catalyst that Dogecoin needs to spark an upward swing that many people root for - Musk included. One of the biggest potential jump-off points for Dogecoin could come from being listed on Coinbase, a widely popular crypto exchange set to go public on Wednesday. While many speculate that Musk tweets about Dogecoin for fun, there might be a lot more substance behind his words and why he chooses to spotlight Dogecoin so frequently. Dogecoin price predictions place shares near $1 Even analysts are revising their Dogecoin price predictions as Musk continues to promote his favorite meme-inspired coin.Ģ. When the SpaceX brainiac talks, people listen. His April 1 tweet is the most recent social media post that had a considerable influence on the token’s price, causing a 32% spike in share value from 5 cents to approximately 7 cents. Musk’s tweets have had a significant impact on Dogecoin’s rise to success.
You may think that a few tweets here and there wouldn’t be enough to drastically affect any stock’s price action, but you couldn’t be more wrong.
That same day, he called Dogecoin “ the people’s crypto.” February 4, 2021: Musk tweeted the word “ Doge” and an image of a rocket shooting for the moon.If you’re not a Twitter user or if you don’t follow Musk, then I’ll get you up to speed on his pro-Dogecoin tweets in the last few months: One of the most frequent ways that Musk communicates his ideas with the rest of the world is through Twitter - with over 50 million followers. The world’s richest man has an eccentric personality that garners a lot of attention from millions worldwide. Elon Musk has become a Dogecoin superfanĮlon Musk doesn’t need an introduction. The company has three unique factors in play that gives it enormous upside potential, and once you realize what these factors are, you might find yourself a part of the Dogecoin frenzy as well.ġ. I usually don’t discuss a penny stock as a viable investment option, but Dogecoin is a bit special. Shares of the dog-minted coin have already skyrocketed over 4,000% in value within the last year, but many see a move higher on the horizon. The growing interest has even made its way onto the trading desks of those on Wall Street, where those who witnessed Bitcoin’s monolithic bull run, are vying to find the next undervalued crypto that could explode similarly.ĭogecoin, which started out as a meme joke in 2013, is one crypto that many are touting as the next Bitcoin-type runner. This has caused a huge spike in interest surrounding crypto as more people start to realize its potential. In just ten short years, the cryptocurrency market cap has grown to over $265 billion, with over 40 million cryptocurrency users worldwide. Today, everyone can’t seem to stop talking about everything related to crypto. Ten years ago, most people had no idea what cryptocurrency was. The cryptocurrency market is truly unique.
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