Jan 31
Dogecoin Price Prediction: What Unites Elon Musk, McDonald’s and DOGE
The Tesla CEO Elon Musk does not lose his sympathy for the Dogecoin meme coin and cryptocurrencies in general. He responded to a series of tweets from McDonald’s. Here is how it went. McDonald’s asked on Twitter “what did i miss.” To this, the Binance account wrote: “A lot of green candles.”
The restaurant chain then posted “wagmi”. It’s an abbreviation for “we are gonna make it”. Musk missed all these tweets, and replied “Oh hi lol” a few days later.
Then one user decided to join the conversation. He reminded Musk of a promise he made a year ago. The CEO of Twitter said that he would eat a Happy Meal on camera if McDonald’s started accepting payments in Dogecoin. User has asked if this promise is still true. Musk replied “100%.”
Despite the fact that many restaurant chains already accept crypto — the major food brand doesn’t plan to implement DOGE crypto. However, Musk may decide to implement DOGE as a means of payment on Twitter. It’s interesting to see how the price of this coin might change then? Will DOGE achieve 1$? Let’s analyze the current situation.
DOGE price prediction
The native cryptocurrency of the payments blockchain protocol Dogecoin has fallen earlier this week. On Monday pair DOGE/USD was trading at 0,08$ for the coin — altcoin has lost 8% compared with its six-week high. However, after reports that Elon Musk is planning to integrate DOGE payments in Twitter, this coin went straight up. DOGE has gained 8% today and now is trading at $0.092839. The market now awaits that Dogecoin will become one of the chief beneficiaries of Twitter’s crypto play.
If we look at the chart we’ll see that the meme coin is enjoying a breakout rally right now, with its relative strength index (purple) rising to 70. Its 30-day moving average (red) is ahead of its 200-day average (blue). This confirms a current breakout of the coin, but it’s impossible to predict the duration of this phenomenon.
Of course, the future rise of DOGE also depends on the macroeconomic situation. The world awaits the Fed, ECB and BoE meetings. All that could cause a bearish reaction. But since DOGE has managed to achieve again 0,09$ after a long downfall, then it could be a start of a run towards 0,11$ — level that this coin has tested in December.
If you want to learn more interesting facts about crypto then don’t forget to check out our blog! You might like our articles “What Is Dogecoin?” and “Elon Musk Bought Twitter. What’s Gonna Change?”.
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