Cryptocurrency analyst Crypto Kaleo Recently, it has been suggested that now is the best time for investors to position themselves. Dogecoin (DOGE). This follows his statement hinting at a surge in the prices of the most important meme coins in the coming days.
Why Now Is a Good Time to Invest in DOGE
On X (formerly Twitter) postKaleo reminded us: cryptocurrency community How he became the world’s richest man and owner of Elon Musk, changed its X logo to Dogecoin just a few days after April 1 last year. The cryptocurrency expert revealed that Musk has already positioned himself in case he does something like that again.
Last year, the price of Dogecoin soared by more than 30%. Musk replaced the X logo. With DOGE’s logo, a Shiba Inu dog. Therefore, Kaleo expects the meme coin to enjoy a similar price rise if Musk makes such a move again. The move would also provide much-needed relief to Dogecoin, which has been on a steady decline since rising to $0.22 last week.
However, investors positioning themselves for this move should be cautious considering how short-lived ‘Musk-induced’ pumps have been in the past. Moreover, even if Musk changes the X logo to the DOGE icon, this move is expected to be temporary and the price of DOGE will likely fall once the original logo is restored.
The same thing happened last year DOGE price plummets After X removed the Dogecoin icon and reverted to the original logo. Meanwhile, in response to Kaleo’s post, his followers weighed the possibility of Musk changing the X logo back to the DOGE icon. part assert That was highly unlikely, especially in that situation. Samsung Electronics’ lawsuit Against Musk.
Musk will push Dogecoin to $1
Following Kaleo’s post, one user X (Shitcoin Alchemist), who boasts over 35,000 followers on the platform, decided Elon Musk will push DOGE to $1. Analysts continue to be increasingly optimistic that DOGE will rise to $1 this market cycle. predict It is possible. But if Musk is to contribute to this parabolic rise, it will be through actions rather than words.
Musk seems to know this. recently mentioned Tesla, which he founded, will eventually start accepting DOGE payments. Bitcoinist too reported The Tesla Supercharger Station in Hollywood will accept Dogecoin payments when it launches.
Meanwhile, Musk and payment serviceIt undoubtedly remains a possibility, and it Adoption of Meme Coins.
DOGE bears push price down to $0.18 | Source: DOGEUSDT on Tradingview.com
Featured image from MARCA, chart from Tradingview.com