Musk Blesses, Warns of Dogecoin Surge! Can the Hype Continue? Will It Hit $2.70 by December?
Dogecoin, the original meme cryptocurrency, is gaining traction again with a 12% gain over the past 24 hours. Data from CoinGecko shows that Dogecoin is currently trading at $0.1287, a significant increase.
The surge was triggered by a tweet from Elon Musk, the billionaire founder of Tesla and SpaceX. On Tuesday, Musk wrote: “Dogecoin will solve this problem,” following a Los Angeles Times report that California officials had blocked SpaceX from launching more rockets. The tweet has generated a wave of interest on social media, especially among investors and Dogecoin fans, who often take Musk’s comments as a buy signal.
While Musk’s message was meant to be humorous and could be seen as a hoax, traders were quick to connect him with the continued value of Dogecoin. Since its launch in 2013 as a joke to mock Bitcoin, Dogecoin has risen to become the ninth-largest altcoin by market capitalization with a value of nearly $18.5 billion.
Cryptocurrency expert Master Kenobi has made a bold prediction that Dogecoin could hit $2.7 by December, suggesting a potential price explosion in the near future. Kenobi’s prediction is based on the coin’s current performance and bullish cycle trends. However, this week’s close will determine whether the trend continues.
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