The Dogecoin price has fallen by 4% in the past 24 hours, following news that Donald Trump, the 45th President of the United States, has had his Twitter profile reinstated. DOGE remains up by 23% in the past week and by 14% in the last 30 days, with Trump’s return to Twitter fueling expectations that Elon Musk will also realize other promises he has made for the social network, including the integration of Dogecoin payments.
That the DOGE price is up over the medium term is all down to Musk’s $44 billion acquisition of Twitter, which was completed at the end of October. Coupled with earlier suggestions that he may integrate the altcoin somehow, this takeover fueled a market-beating rally, although it has recently been subdued by the FTX bankruptcy and the resulting industry-wide fallout.
Doge Today’s price
Doge price today is $0.0945999 USD
| DATE | Dogecoin | USD |
|---|---|---|
| Today | 1 | 0.0945999 |
Doge Price Prediction:
Donald Trump, who made his 2024 presidential run official with a sizable rally, has done little since returning to Twitter other than change his bio.
The impeached president has rejoined the social network after new owner Musk conducted a poll to ascertain the opinions of users (and likely automated accounts) regarding Trump’s reinstatement. This survey was conducted in response to Musk’s earlier comments that he would restore Trump’s account.
Although Trump’s actions have no direct influence on dogecoin (as far as we are aware), they do show that Musk is committed to making the improvements he suggested when his acquisition of Twitter was still being discussed/processed.
Supporters of Dogecoin are likely already aware of one of these modifications, which is the addition of DOGE payments. Musk specifically suggested in April that consumers could be able to use the altcoin to pay for the Twitter Blue membership service.
Of course, a sceptic could very well counter that a tweet like that simply shows Musk “thinking out loud,” with no real assurance that he will act on the suggestion.
Musk, meanwhile, is a well-known dogecoin advocate and holder who previously accepted DOGE payments for a number of Tesla products back in January. It’s not wholly improbable that he will eventually incorporate cryptocurrency payments into Twitter, including dogecoin, even though there is no timeline for such a speculative integration.
It’s important to keep in mind that Musk has committed to a broad list of enhancements and features, so it’s unclear where “Dogecoin payments” would rank on the list and what priority it will receive.
As a result, it’s still feasible that the dogecoin price will experience some further declines in the near future, especially given how the FTX bankruptcy situation is still playing out.
However, over the last few days, its relative strength index (purple) has risen, signaling an increase in momentum. Similar to how its 200-day moving average (blue) has surpassed its 30-day moving average (red), this trend similarly shows increasing momentum.
These factors suggest that DOGE may have some further price growth over the coming days, before possibly plunging once more in the case that the market experiences additional contagion effects from the FTX collapse.
A larger rally would be contingent on Twitter unveiling some sort of DOGE payment mechanism, which might take months or even years to become a reality.
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