Doge Coin Price Prediction Elon musk to add Doge payment on Twitter

Doge Coin Price Prediction

After such a strong rally, it can be hard to know where the price is headed. Dogecoin's price prediction remains bullish, especially above the 38.2% Fibonacci retracement level of $0.1200. Despite billionaire Elon Musk's support, this doesn't seem to be enough for an extended rally; so far, Dogecoin has lost a bit of ground.

Elon Musk, a billionaire, is a long-time fan of cryptocurrency Dogecoin, which rose in value 145% this week after he took over Twitter. But the gains have been fading as of late due to its recent losing streak.

The recent interest rate hike by the US Federal Reserve, which had a detrimental effect on the entire crypto market, is the reason why Dogecoin has fallen. With its volatile performance in recent months and the most recent declines, it's clear that there are a lot of other factors that are weighing on its value.

Some people have reported that Dogecoin's price has the potential to significantly increase. Elon Musk recently tweeted that he thinks there is true potential for Dogecoin to be used as a payment method.

An entrepreneur from the world's richest man, who mentioned that he would accept Dogecoin as payment for Twitter features on Halloween, used a DOGE army insignia. The winking emoji was a clear indication that he was only joking.

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