The Dogecoin price has risen by 4% in the past 24 hours, reaching $0.092641 following the news of Sam Bankman-Fried’s arrest, speculation concerning Binance’s finances, and better-than-expected US inflation data.
Its current value marks an 8.5% drop in the past week, however, with the coin flat in the past month and down by 45% since the start of the year.
Given negative market sentiment and the lack of recent good news for DOGE, some analysts have begun suggesting that the altcoin is set for more falls, despite the recent rally.
However, holders and supporters continue to hope for Twitter to integrate dogecoin payments in some shape or form, something which would send the meme token surging.
Is it Too Late to Buy Dogecoin? 3 Traders Give Their DOGE Predictions
DOGE’s indicators are currently mixed. Its relative strength index (purple) has dropped below 50 in the past few days, signaling greater selling pressure. However, its 30-day moving average (red) is well above its 200-day average (blue) and has resumed rising.
What this potentially suggests is that having experienced a lull in its late-October rally, DOGE is ready to begin rising again. Of course, with everything that’s happening in the market, such a rise may not materialize, at least not in the short term.
Accordingly, there are mixed views from traders and analysts alike on what DOGE is likely to do in both the short- and long term.
Most notably, CNBC’s financial cheerleader Jim Cramer recently declared that DOGE is set to collapse, adding that the coin is essentially a “con.” However, DOGE and other cryptocurrency holders alike have responded to this claim by suggesting that Cramer’s dismissal of dogecoin is actually bullish, given how frequently he has been wrong.
In terms of people within the DOGE and cryptocurrency communities, there are more than a few who believe that, after falls in the past couple of weeks, Dogecoin is set to rise again. Crypto Twitter personality The Doge Coach has suggested a rise to $0.15 by the end of this week, something which would imply a 66% jump.
While such an increase within such a short space of time is unlikely, others have come out to suggest that DOGE will have a good week without specifying a particular figure or level.
It’s not entirely clear what will prompt a big DOGE move this week, yet most supporters continue to expect some kind of announcement from Twitter and/or Elon Musk in the not-too-distant future.
On the one hand, there’s an expectation that Twitter will introduce DOGE-based tips (or something similar) at some point, an expectation that was entirely responsible for DOGE’s rally at the end of October.
On the other hand, some are also hoping that Musk will introduce the ability to use DOGE to pay for Tesla cars. Again, this would be massively bullish for the meme token, but it remains purely hypothetical at this point, even if Tesla has already been accepting DOGE as payment for some of its merchandise for over a year now.
This optimism aside, there’s also some speculation that Twitter may be working on its own ‘Twitter Coin.’ If true, this would likely negate the need for DOGE-based payments.
As such, the Dogecoin community may look to do more to support DOGE’s price than simply hoping in a mercurial social media executive.
Altcoins Not Relying on Twitter and Elon Musk
Given the reliance of DOGE on the unpredictable Elon Musk, some investors may prefer to look towards altcoins that aim to grow based on their own fundamental features. Despite the fact that crypto remains in a bear market, 2022 has still delivered more than a few promising new coins in this mold, with presales proving especially lucrative this year.
For example, Lucky Block (LBLOCK) and Battle Infinity (IBAT) witnessed increases as high as 6,000% and 3000% during the summer, compared to their initial presale prices of $0.00015. Likewise, Tamadoge (TAMA) rose by as much as 1,800% after listing on OKX in October.
While these coins have finished their sales, the three tokens below are still in the process of their own respective offerings.
That said, these are due to finish soon, so early investors will need to move quickly if they want to buy before exchange listings.
Dash 2 Trade (D2T) – Presale in the final stage
Running on the Ethereum blockchain, Dash 2 Trade is a trading intelligence platform that offers investors real-time analytics and social trading dat, helping them to arrive at more informed trading decisions. It’s set to launch in early 2023, with its D2T token being used to pay for the monthly subscription fees to its platform (there are two subscription tiers).
Now in its fourth and final stage, Dash 2 Trade’s presale has already raised more than $9.6 million, while also announcing listings on Uniswap, BitMart and LBANK Exchange for the New Year.
Calvaria (RIA) is a blockchain-based game in which players can collect, trade and do battle with NFT-based cards. A play-to-earn game, it also has the distinction of enabling users to play it without holding any cryptocurrency, something which could open it up to a wider audience.
RIA will be used within its ecosystem for purchasing in-game items and for staking, giving it a strong use case. The presale for the token has raised just over $2.4 million and is currently in its fifth stage, which happens to be its final stage.
Another Ethereum-based platform, RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world. This includes creating NFT-based land, buildings, and other in-game items, while the game also has the aim of letting players link up with other metaverses and create an interoperable multi-verse.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale. It has already raised over half a million dollars.