Dogecoin (DOGE) is on a bullish run as the price is currently up 10.2% at the time of writing to $0.08216, a trend that is notably helping to drive the prices of top assets in the broader market.
Bold Calls on Dogecoin Performance
The impressive performance of Dogecoin has pushed the memecoin up 19.99% over the trailing 7-day period. This performance becomes significant when compared with the related moves from top digital currencies like Bitcoin (BTC) which is down by 2.03% in the past week.
Top rival memecoins like Shiba Inu (SHIB) and PEPE are also trailing behind Dogecoin in what comes as a defined outpacing. While SHIB is up by 2.19% in the past week, PEPE is notably changing hands at a deep negative discount of 13.97%.
Dogecoin has been on the radar of many traders and top analysts on Twitter. One of these analysts CrediBULL Crypto is projecting that the memecoin is bound to keep ‘moving forward’. His current projection was hinged on his previous calls in which he successfully predicted an upward push for the memecoin.
The last time I shared a video on $DOGE was about 3 months ago when we were trading at just over 9 cents. In that video I talked about why I’m a buyer of $DOGE under 5 cents. Following that video we hit 5.3 cents before this most recent rally. Here is a new video with my thoughts… https://t.co/7RVP2UQVjI pic.twitter.com/z8aaNxy5Ha
— CrediBULL Crypto (@CredibleCrypto) July 25, 2023
Betting on DOGE to grow is very risky, considering the amount of volatility it notably harbors. However, a look at its fundamentals and current target market shows it has a lot of basis to hit an upward price level in the near term.
The X (Twitter) Sentiment
According to the current speculations growing around the newly rebranded social media platform X, Dogecoin is likely to play a significant role in its future transformation. As the everything app is now themed, X is adequately positioned to support digital payments, notably incorporating cryptocurrencies with Dogecoin as the reference point.
While the timeline for this payment implementation remains unknown, investors in the crypto ecosystem are already pricing in a potential surge in demand that will be generated by such a move from Elon Musk and X. Dogecoin is already tagged as the favorite of the billionaire investor, any push to integrate it as the leading native token of the X app can stir one of the most profound growth surges in its history.
Should the current buying momentum be sustained, we can see the price of DOGE retest the resistance point at $0.09 in the near term.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
