Dogecoin, the popular meme-based cryptocurrency, saw a 26% surge in its price overnight, reaching a value of $0.0988 with a market cap of $13 billion. This sudden price increase was triggered by a series of events that have contributed to renewed interest in Dogecoin, including Elon Musk’s recent legal stance and his Twitter activity.
Musk’s lawyers recently submitted a request to dismiss a $258 billion lawsuit filed against him, which alleges that he inflated the price of Dogecoin, calling it a “fanciful work of fiction.” Musk’s legal stance has helped to restore confidence in Dogecoin, prompting investors to buy more of the cryptocurrency.
New logo, who dis?
To further support Dogecoin, Musk changed the Twitter profile picture to a photo of the Dogecoin logo, which fueled speculation about the cryptocurrency’s future prospects. As a result, the price of Dogecoin increased by 25%.
This sudden increase in price has generated excitement among Dogecoin supporters, who are bullish about the cryptocurrency’s future prospects. Technical analysis suggests that Dogecoin has a strong buy indicator, which could lead to further price increases in the coming weeks and months.
DOGE price predictions
Many analysts predict that Dogecoin could reach up to $0.35 in the near future, based on the recent surge in price and renewed interest in the cryptocurrency. However, it’s worth noting that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.