Prominent crypto trader and analyst Michael van de Poppe has taken to the X app to suggest at which level it is worth entering Dogecoin now.
The chart he shared shows that he may be expecting the DOGE price to rise.
"DOGE entry zone"
Analyst Poppe has marked the entry zone for DOGE traders at the $0.06982 level, and the line that shows the potential rise of the meme coin in the near future touches the area above $0.1.
The last time DOGE surged to the $0.1425 mark was Nov. 2 of last year.
Entry zone for $DOGE. pic.twitter.com/26SwdTbYU2
— Michaël van de Poppe (@CryptoMichNL) August 7, 2023
Over the weekend, on Saturday in particular, the most popular meme cryptocurrency made a 5.23% rise. However, DOGE failed to hold at that price level and has declined 3.15% by now, trading at $0.0743 at the time of this writing.
X will not launch its own token, Doge army feeling hopeful
On Saturday, the owner of the X app (formerly known as Twitter), debunked rumors about an "X coin" launch and made it clear that the X platform will never create its own digital currency; that was made clear as day.
The Dogecoin army has been expecting the tech tycoon to integrate Dogecoin payments to reward content creators on the X platform. Now it seems to be clear that there will be no tipping in the traditional sense of the word, but Musk has integrated a subscription feature instead. It allows content makers and bloggers on X to withdraw monthly fees from their subscribers' cards on a regular basis.
To make life easier for creators, Musk has expanded the volume of text that can be published in each post, and he also added a feature for live videos.
Should Elon Musk indeed add DOGE payments in the future (as the platform will not be launching its native token), the meme coin’s price is likely to skyrocket, as this will bring it millions of new users and boost its adoption and utility to a high degree.
As reported by U.Today earlier this year, the platform (when it was still called Twitter) was granted licenses for processing crypto payments in several U.S. states.
Arman Shirinyan
Alex Dovbnya
