Dogecoin Price Forecast: DOGE Pumps Today As X Adoption Nears. Bullish Momentum or FOMO?

DOGE recorded an impulsive price move today, August 28, rising significantly to $0.068. This represents an increase of nearly 10% in the last 24 hours. According to CoinGecko, the coin is trading at $0.066.

As shown in weekly data, Dogecoin DOGE has maintained this bullish momentum, recording an 8% seven-day increase.

However, in the past 30-day trading period, DOGE has declined almost 15%, indicating a prolonged bearish trend. But presently, the bulls are trying to regain control of the market.

Moreover, DOGE recorded a 100% surge in 24-hour trading volume, suggesting increased trading activity and buy demand.

Following its recent performance, crypto enthusiasts believe DOGE could reach the $0.1 milestone soon. This will represent a massive increase of more than 51%compared to the present price of $0.066.

Twitter Payments Gets New License, DOGE Soar 7%

X (formerly Twitter) has received permission to facilitate crypto transactions in seven US states: Arizona, Missouri, Georgia, Maryland, Michigan, New Hampshire, and Rhode Island.

The NMLS license website releasedthis statement on August 29. According to a report, X received a Rhode Island Currency Transmission License to facilitate crypto trading within the state.

This event occurred on August 28 and caused the price of Dogecoin, notably Elon Musk's favorite meme token, to increase by about 2.55%. However, the rally quickly went back down.

But DOGE supporters are hopeful that Musk will soon enable cryptocurrency payments using Dogecoin on the X app. Therefore, the Dogecoin community highly anticipated the news of Twitter Payments LLC getting these licenses.

The news initially led to a small increase of about 2.55% in DOGE's price, signaling positive sentiment among investors. While the impact was short-lived, the development could have lasting effects.

Also, the move highlights the growing acceptance of cryptocurrencies and could draw attention to DOGE, potentially driving broader adoption and raising its market value.

If Elon Musk's company integrates crypto payments using Dogecoin on the X app, it could enhance the coin's utility for real-world transactions, positively influencing its value.

DOGE Technical Analyses: Can DOGE Sustain This Market Sentiment?

Chart Source: TradingView

From the chart above, the DOGE price shows significant upside potential. In the past 24 hours, DOGE has shown bullish signs in its market, evident in the rising green candle.

If the price soars above $0.068, it could break through the existing barrier and go even higher, reaching $0.07. The coin is approaching the upper Bollinger Band indicator, mirroring the bullish momentum in the market.

Looking at today's trading volume and the coin's performance, DOGE could push above the Bollinger Band Indicator. Also, DOGE exhibits promising signs, with its Relative Strength Index (RSI) level of 48 pointing upward, suggesting a rising buy momentum.

The MACD is currently trying to rise above the signal line, demonstrating a gradual shift from downward to upward trend.Based on recent bullish developments within the Dogecoin ecosystem and X platform, the native asset could sustain this momentum for a while.

Investors should approach this projection cautiously since meme coins flow with current trends and could rapidly divulge from the forecasted trajectory following ongoing developments.

Key Price Levels

Chart Source: TradingView

DOGE analysis indicates that the coin is between the key support, $0.055, and resistance levels of $0.083, a consolidation pattern where the coin's price movement is confined within a defined range.

As depicted in the chart, DOGE is approaching the resistance level, which implies a potential upward movement in its price.

However, this scenario also demands careful consideration because it remains uncertain whether DOGE will successfully break through this resistance level of $0.083 or experience a reversal remains uncertain.

A breach above the resistance level, accompanied by strong trading volume, could sustain the ongoing rally. Conversely, if the coin struggles to breach the resistance and demonstrates signs of reversal, it might indicate a potential trend reversal toward the support level of $0.055.

Meanwhile, DOGE once recorded massive surges following Elon Musk's attention and silly tweets. But, the rally has stalled, and investors have shifted their attention toward newer tokens with higher upside potential. Wall Street Meme meets this criteria and positions itself as a worthy DOGE competitor.

Dogecoin Alternative - Wall Street Memes Coin

>>>Visit Wall Street Memes Presale

A new player known as Wall Street Memes ($WSM)has emerged in the crypto arena. Despite the present crypto market conditions, the project has attracted more attention to its presale.

$WSM has impressively generated a substantial $25 million through its Initial Coin Offering (ICO) in slightly over three months.

The team responsible for this venture disclosed that Wall Street Memes is preparing for a launch on renowned exchanges in a few weeks., a move that holds the potential to elevate the token's value strongly.

Adding to the intrigue, the team unveiled intentions for $WSM to introduce its own on-chain Stake-to-Earn mechanism. Before these revelations, the token had already secured robust backing from its community.

Notably, it maintains close affiliations with the renowned Wall Street Bets Reddit community, famous for orchestrating the notable GameStop short-squeeze.

Furthermore, Wall Street Memes has become a prime hub for finance-related humor. Their social media engagement achieves more than 40 million impressions monthly, a dynamic force capable of propelling the token toward its ambitious goal of attaining a $1 billion market capitalization.

Attracting Big Names and Building a Community-Driven Strategy

Wall Street Memes have caught the attention of some famous people. And it's not just anyone; it's Elon Musk, the tech expert known for affecting cryptocurrencies like Dogecoin (DOGE) with his tweets. When Musk gets involved, things usually get exciting.

But Wall Street Memes is more than just relying on celebrity buzz. The presale is seeing a lot of interest from big investors, adding to the excitement.

But there's also a smart plan for how they're giving out their WSM tokens. It's not just about coins; it's about creating a strong community.

They're putting 50% of the 2 billion tokens in the presale, and another 30% is for rewarding the community's active involvement. The remaining 20% is for keeping things steady on exchanges.

When you think about it, the fact that WSM has grabbed the attention of important people like Elon Musk, and their thoughtful token plan shows they're up to something good.

Wall Street Meme Staking Bonanza Gives Investors 101% APY.

Wall Street Memesrecently introduced a staking feature that creates much excitement. This is because it lets you earn rewards by staking your $WSM tokens, with potential yields reaching an impressive 101% per year.

>>>Visit Wall Street Memes Presale

The project has recorded more than 197 million tokens in the staking pool. While the rewards might decrease as more people join, investors are expected to stay positive.

Staking isn't just about rewards; it's a smart strategy to encourage holding onto tokens for the long term.

This stability is crucial when $WSM enters exchanges after the presale. A similar approach worked wonders for another cryptocurrency, BTC20, which surged by 80% post-launch despite crypto market ups and downs.

Wall Street Memes has an amazing $50,000 airdrop exclusively for presale supporters, with over 81,000 entries. To join, head to their Discord, complete a few social tasks, and you're ready to go.

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