Dogecoin price has increased by 4.10% in the last 24 hours, reaching a value of $0.08735 following news of Sam Bankman-Fried’s arrest and speculation about Binance’s finances.
The current value marks a drop in value from 9.4% in the previous week, with the coin flat in the last month and down 42% year-to-date.
Due to the negative market sentiment and the lack of recent good news for DOGE, some analysts have started to suggest that the altcoin will soon start falling more. However, owners and supporters remain hopeful that Twitter implements Dogecoin payment systems in some form, something that would send the meme token skyrocketing.
Is it too late to buy Dogecoin? 3 traders share their DOGE predictions
Indicators from DOGE are currently mixed. Its relative strength index (purple) has fallen below 50 in the past few days, signaling increased selling pressure. Its 30-day moving average (red) is well above its 200-day moving average (blue) and continues to rise.
What this may suggest is that after a dampening in its rally in late October, the DOGE is poised to start rising again. Of course, such an increase cannot be realized with everything that is going on in the market right now, at least not in the short term.
So there are differing views from traders and analysts on how DOGE is likely to perform in both the short and long term.
In particular, financial cheerleader Jim Cramer has recently said that DOGE is poised to collapse, adding that the coin is indeed a “scam”. DOGE and other cryptocurrency owners have responded to his claim by saying that Cramer’s denial of Dogecoin is actually bullish and pointing out how many times he is wrong.
As for people in the DOGE and cryptocurrency community, there are more than a few who believe that after the declines of the past few weeks, Dogecoin is poised to start rising again. Crypto Twitter personality The Doge Coach has suggested an increase to $0.15 by the end of this week, something that would represent a 66% increase.
While such a rise in such a short time is highly unlikely, others have come to suggest that the DOGE will have a good week without naming a specific level or number.
It’s not yet entirely clear what will trigger a big rally for DOGE this week, but most followers continue to expect some sort of announcement from Twitter and/or Elon Musk in the not-too-distant future.
On the other hand, there is an expectation that at some point Twitter will introduce “DOGE-based tipping” (or something similar), an expectation that was entirely responsible for DOGE’s rally towards the end of October.
On the other hand, some also hope that Musk will introduce the possibility of using DOGE to pay for Tesla cars. This would again be very bullish for the meme token, but this remains purely hypothetical at this point, even though Tesla has been accepting DOGE as payment for some items for over a year.
All this optimism aside, there is also any speculation that Twitter may be working on its own ‘Twitter Coin’. If true, it would likely negate the need for DOGE-based payment systems.
So the Dogecoin community can look to do more to support DOGE’s course rather than hoping for a living social media president.
Altcoins that don’t depend on Twitter and Elon Musk
Due to DOGE’s reliance on the unpredictable Elon Musk, some investors may prefer to look at other altcoins that are growing based on their own fundamentals. While crypto remains in a bear market, 2022 has still delivered more than a few promising coins, with pre-sales in particular being very profitable this year.
For example, Lucky Block (LBLOCK) and Battle Infinity (IBAT) have seen increases of as much as 6,000% and 3,000% over the summer, from their initial presale prices of $0.00015. The same applies to Tamadoge (TAMA), which has risen a whopping 1,800% since listing on OKX in October.
Although these coins have clearly ended their sale, the pre-sale of these three tokens is still ongoing. That said, they will end soon, so early investors should decide quickly whether to buy into the IPOs.
Dash 2 Trade (D2T) – Pre-sale in final phase
Powered by the Ethereum blockchain, Dash 2 Trade is a trading intelligence platform that provides investors with real-time analytics and social trading data that helps them make more informed trading decisions. It will launch in early 2023 with its D2T token that will be used to pay for the platform’s monthly subscriptions (there are two tiers).
Currently, the pre-sale is in its fourth and final phase. The Dash 2 Trade presale has already raised more than $9.5 millionwhile also announcing listings on Uniswap, BitMart and LBANK Exchange for the new year.
Visit Dash 2 Trade here
Robot Era (TARO)
Another Ethereum-based platform, RobotEra (TARO), is a Sandbox-like Metaverse where players will be able to play as robots and participate in the creation of its virtual world. This includes creating NFT-based land, buildings and other objects in the game, while also aiming to connect players with other metaverses and create an interoperable multiverse.
1 TARO is currently worth 0.020 USDT (it can be bought with USDT or ETH), although this price will increase to $0.025 in the second phase of the presale. It has already raised more than half a million dollars.
Visit RobotEra here
Calvaria (RIA) is a blockchain-based game where players can collect, trade and compete on NFT-based cards. It is a game to make money, but players can also play the game without owning any cryptocurrency, something that can make the game more attractive to a wider audience.
RIA will be used in the ecosystem to purchase in-game items and bet, giving it a strong Use Case. The token sale has already raised more than $2.4 million and is currently in its fifth phase, which is also its final phase.
Visit Calvary here