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 fuelling 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 acqusition of Twitter, which was completed at the end of October. Coupled with earlier suggestions that he may integrate the altcoin somehow, this takeover fuelled a market-beating rally, although it has recently been subdued by the FTX bankruptcy and the resulting industry-wide fallout.
Dogecoin Price Prediction as Donald Trump Returns to Twitter – DOGE Integration Soon?
For someone who announced his 2024 presidential bid with a sizeable rally, Donald Trump has done nothing with his return from Twitter exile except update his bio.
The impeached president’s return to the social network follows a poll from new owner Musk, who gauged the views of users (and presumably bots) on Trump being accepted back onto Twitter. In turn, this poll followed earlier suggestions from Musk himself that he would reinstate Trump’s account.
While Trump himself has no direct bearing on dogecoin (as far as we know), it nonetheless offers an indication that Musk is serious about implementing the changes he proposed when his acquisition of Twitter was still being negotiated/processed.
And as Dogecoin supporters will no doubt already know, one of these changes includes the introduction of DOGE payments. In particular, Musk mooted the possibility of enabling users to pay for the Twitter Blue subscription service using the altcoin, doing so back in April.
Of course, a skeptic could very easily argue that such a tweet represents Musk ‘thinking aloud,’ with no real guarantee that he will actually follow through on such a hint.
However, Musk is a known dogecoin holder and supporter, having already introduced DOGE payments for a selection of Tesla merchandise back in January. It’s not entirely fanciful that he will integrate dogecoin and/or cryptocurrency payments into Twitter at some point, although there is no roadmap for such a hypothetical integration.
It’s also worth remebering that Musk has promised to introduce a long list of improvements and features, so there’s no telling where ‘dogecoin payments’ sits on such a list and what priority it has.
As such, it remains possible that the dogecoin price has some more pain in store in the shorter term, especially with the FTX bankruptcy saga continuing to unfold.
Its relative strength index (purple) has climbed up in the past few days, however, indicating an increase in momentum. Likewise, its 30-day moving average (red) continues to climb beyond its 200-day average (blue), also indicating rising momentum.
In light of these indicators, there’s a chance DOGE could continue to see some upwards price movement in the next few days, before potentially falling again in the event that the market witnesses further contagion effects from the FTX collapse.
As for a bigger rally, this would depend on Twitter annoucing some kind of DOGE payment feature, which may take a while (months, maybe years) to materialize.
In the meantime, less patient traders and investors may opt to look at coins with a better chance of recording stronger short-term gains. For the most part, such coins include tokens that are currently holding their presales and will list on exchanges soon.
Indeed, while 2022 has been largely disappointing for the market as a whole, some new coins have risen by as much as 1,800% relative to their presale prices this year. This highlights the potential shown by certain presale coins with solid fundamentals, so here’s our pick of three of the most promising such cryptocurrencies.
Dash 2 Trade (D2T)
Running on the Ethereum blockchain, Dash 2 Trade is a trading intelligence platform that provides investors with real-time analytics and social trading data, all of which can help them reach more informed trading decisions.
Due to launch in the first quarter of 2023, the sale of its native D2T token has already raised more than $7 million. It has also announced listings on BitMart and LBANK Exchange for early next year, giving early investors a good opportunity to make some decent returns.
RobotEra (TARO) is a Sandbox-style Metaverse due to launch its alpha version in Q1 2023. Within its Ethereum-based platform, gamers will be able to play as robots and participate in creating its virtual world, including NFT-based land, buildings, and other in-game items.
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, which will begin soon.
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Calvaria (RIA) is a blockchain-based card-trading game, in which players can do battle with their NFT-based cards and earn rewards. One of its most interesting features is that it enables gamers to play it without holding any cryptocurrency, which could help make it more popular than other crypto-based titles.
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 $2.1 million and is currently in its fourth stage, during which 40 RIA can be bought with 1 USDT.
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