With Musk's endorsement, can Dogecoin take off again in 2025?
Musk is definitely the biggest promoter of Dogecoin; he can send its price skyrocketing with just a tweet. Remember 2021? With just a few words, Dogecoin surged by 200%, and that year was even crazier, increasing by 100 times. Now this guy's X platform is planning to introduce payment features, and many people are guessing whether it will support Dogecoin. If it actually happens, this broken coin might really make a comeback, transforming from a meme to a legitimate payment tool.
There are also movements on the technical front, as I've heard they are looking to add smart contract functionality to Dogecoin. If they manage to pull that off, Dogecoin might not just be Musk's toy anymore; it could actually have some practical value.
Right now, those analysts seem to be hyped up like they've had their morning coffee. CoinCodex says it could rise by 222% this year, potentially reaching $1.1, with a possibility of breaking $1 in March. More outrageous predictions claim it could soar by 3700%, hitting $11 by the end of the year, and some are even calling for $20. Have these people forgotten how insane the cryptocurrency market can be?
From the charts, Dogecoin has broken through that symmetrical triangle—something it also broke in 2020, after which it surged over 300 times. Given the current situation, history might actually repeat itself. But seriously, with cryptocurrencies, who can predict anything? It's all just a matter of Musk's words.
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