The cryptocurrency community anticipates that the price of the meme-inspired cryptocurrency Dogecoin ($DOGE) will grow modestly by the end of this month, with an average of almost 1,000 estimates pointing to a 3% increase.
According to CoinMarketCap’s price projections feature, the cryptocurrency community anticipates the meme-inspired cryptocurrency to trade at roughly $0.0873 per token by the end of April, up from its current level of $0.0848, representing a 3% increase.
It’s vital to note that the bitcoin community’s predictions may never come true. According to the site, the community’s historical accuracy is slightly higher than 79%, with current statistics indicating that it was about 91% in February but dipped to around 89% in March 2023. In October of last year, it was 51%.
The Dogecoin community rejoiced earlier this month when Twitter CEO Elon Musk changed the microblogging platform’s logo to that of DOGE, only to be surprised when Musk abruptly withdrew the logo.
Musk replaced Twitter’s distinctive bird logo on the Twitter homepage with the well recognized Dogecoin symbol in a platform-wide modification, displaying DOGE to approximately 360 million monthly active users on the microblogging platform.
Musk has now decided to reinstate Twitter’s bird logo in the top left corner of the Twitter home page, effectively crushing many DOGE fans’ hopes that Twitter would integrate Dogecoin into Twitter in the near future, and this has had an immediate negative impact on the DOGE price.
According to reports, a famous cryptocurrency analyst believes the price of the meme-inspired digital currency will skyrocket in the near future, with a 180% increase possible due to the April 20 (4/20) “meme holiday.”4/20 is a meme holiday because it is a day when marijuana users all over the world celebrate marijuana culture in their own unique style. The date 4/20 is derived from the code 420, which was used in the 1970s by a group of high school students in California to mark their meeting time for smoking marijuana.
Numerous memes make light of marijuana’s effects, misconceptions of cannabis users, the drug’s legal status, and the reactions of celebrities and politicians. These jokes, according to pseudonymous cryptocurrency expert Kaleo, will also help DOGE pump, since Elon Musk, CEO of Twitter, Tesla, and Space X, is expected to tweet about the cryptocurrency. According to CryptoGlobe, long-term investors now hold tens of billions of DOGE tokens, as entities that have been HODLing the cryptocurrency for more than a year now have 44.8 billion tokens worth more than $4.5 billion.
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