Elon Musk launched a serious transformation for Twitter this week as part of his vision to build a new ‘super app’. Replaced the logo of the Twitter building and application with an “X”. This transformation leads to widespread speculation that Dogecoin (DOGE) will be integrated into the new platform.
“Something special coming soon”
Elon Musk sparked excitement late last night on Twitter by saying, “Something special is coming soon.” This cryptic message sent waves through the crypto community, especially among Dogecoin enthusiasts.
According to many, Musk’s announcement heralded that he would add Dogecoin as a payment method to his app X. After that, David Gokhstein, a phenomenon supporting meme projects, joined the cast of waiting for integration. cryptocoin.comAs we have mentioned, the famous economist Raoul Pal also supports the expectations.
👀
— Sir Doge of the Coin ⚔️ (@dogeofficialceo) July 29, 2023
Like DOGE, the XRP community claims
Along with speculation about Dogecoin, Musk shared an image with the app’s new logo, a simple letter “X”. This image sparked another wave of excitement, especially among XRP enthusiasts, who noted the similarity between the new logo and the symbol of XRP.
— Elon Musk (@elonmusk) July 29, 2023
Amid the developments, DOGE price continues its gains into the weekend. It continued to keep its daily earnings above 3.5% on 30 July. This sudden response to Musk’s tweet shows the impact his words had on the market.
What’s next for DOGE?
Crypto analyst Altcoin Sherpa says Dogecoin (DOGE) has enough fuel for higher prices. In his current analysis, he shared that he is watching Dogecoin for a buying opportunity. Specifically, he says he is targeting the 200-day EMA, around $0.075. Sherpa expects a rise to $0.90 after this point. According to their analysis:
DOGE: One of the few subs that looks really strong overall. I’m not sure what levels will make sense right now, but I wouldn’t be surprised if this continues to hit $0.09 in the near future.
On July 26, DOGE price managed to climb above the overhead resistance of $0.80. However, this upward momentum has been difficult to sustain. The price then dropped slightly. This indicates that investors are selling at higher levels. Meanwhile, the bears pushed the price below the $0.08 break level, accelerating the downtrend. According to technical analysis, the price is now likely to decline towards $0.07, which is an important support level to watch in the near term.
$0.07 critical
However, a positive sign is that the price finds support at $0.07. This will indicate that investors have started buying from the lows and that the price may move up again. If this positive scenario materializes, the bulls will target the next resistance at $0.08. In this case, DOGE price has the potential to rise as high as $0.10.
