Will $DOGE be the official crypto of #Twitter?
The Dogecoin ecosystem token Dogechain has pumped 400% in price over the past week after the elon takeover the twitter.
Dogechain is a layer-2 blockchain with smart contract functionality that allows users to pay network gas fees with Dogecoin. You cannot use Dogecoin directly, but must instead bridge your tokens in exchange for wrapped Dogecoin (wDOGE). At any time, you can bridge back to receive the equivalent in Dogecoin.
Of course, wrapped DOGE costs the same as Dogecoin.
But it was the DogeChain token (DC), which is used for staking and governance, that soared from $0.00036 to $0.0018. It came after a vote to burn 80% of total supply received a nearly unanimous ‘yes’ with three days until the vote closes.
Will DogeChain keep on pumping in price?
A successful vote may result in more positive price action for DogeChain.
However, in order to maintain its success, DogeChain will need to develop useful decentralised applications and protocols. The ecosystem is still in its early stages. Price action is currently linked to news speculation and will remain volatile until more information about the project becomes available.
It’s important to note that DogeChain is completely independent of the Dogecoin blockchain and Dogecoin developers.
If the price of Dogecoin rises, this does not imply that the price of DogeChain will rise as well. While DogeChain has a strong marketing relationship with Dogecoin, the success of the DC token will be determined by the ecosystem’s quality.
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Web 3.0 Twitter crypto wallet
Twitter was developing a web 3.0-based crypto wallet product. According to reports, the Twitter wallet prototype would support crypto deposits and withdrawals. However, Twitter has yet to make an official announcement about this. This is consistent with Elon Musk’s possible takeover of the company. Musk, who is already a big fan of cryptocurrency, has long advocated for its inclusion in Tesla payments.
The crypto community is hopeful that the Twitter crypto wallet will support Bitcoin and Dogecoin when it launches. This speculation caused Bitcoin and Dogecoin, among other top cryptocurrencies, to skyrocket. Mason Versluis, a crypto influencer, wondered if the Twitter crypto wallet would support Dogecoin.
Dogecoin Price 2022
Dogecoin surges 35% after the elon closes the twitter deal and now trending between 0.104$ at bitmart with the 50m doge volume and the 5.10m USDT ustd. Last 24 hr high is .109 and the low is 0.0795
Dogecoin Price Predictions 2023
The current trend indicates that the Dogecoin price will exceed $1 before the end of 2023.
As the Dogecoin community grows, it has proven to be popular among home traders. The coin is extremely popular among social media users, particularly Reddit.
Despite the fact that Dogecoin has experienced higher levels of volatility than other mainstream cryptocurrencies. The volatility is primarily due to its online popularity and frequent mentions by celebrities such as Elon Musk.
Dogecoin Price Predictions in 2025
Given Dogecoin’s high volatility, forecasting its price by 2025 is difficult. However, based on its current momentum, Dogecoin will be far more valuable in 2025 than it is now.
Most price analysts have already made predictions as far out as 2025. Dogecoin, for example, is expected to reach $3 by the end of 2023, the coin could go as far as $5 if no resistance is encountered.
Dogecoin Price Predictions in 2030
it is expected to reach $5 by the end of 2030, the coin could go as far as $8 if no resistance is encountered.
Conclusion
The majority of price analysis experts believe Dogecoin will soon reach $1. However, because it is a highly volatile asset, we cannot guarantee that it will reach $1 this year or even early next year.
Dogecoin has already demonstrated the potential for rapid growth, and if there is no resistance along the way, the price will be much higher by the end of the year. So, if you want to invest, you should buy now while the price is still low.
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