by Sana Bukhari
Market participants now focus on Dogecoin (DOGE) again because more than $5 billion disappeared from its total value during recent market declines. The number one meme coin moved at $0.
18 today and recorded a 14% decrease during the last day. Due to changing market feelings about financial risk people believe Dogecoin could experience a huge jump with its current price potentially increasing five times.
Cardano founder Charles Hoskinson wants to help Elon Musk add Dogecoin payment support to X after showing interest in this social network platform. Musk continues to hint on Twitter about accepting Dogecoin payments but has not yet taken action to make it possible. Since Musk enabled Tesla product payments in DOGE he could deliver a powerful improvement when introducing this feature to X.
Hey @elonmusk, you want to fix up doge and make it the standard currency of X? I have the old Bitcoin 2 roadmap I wrote up years ago.
— Charles Hoskinson (@IOHK_Charles) March 4, 2025
Technical market data implies Dogecoin has the power to jump in value significantly. In the late 2024 rally, DOGE pushed past its resistance and moved into a rounding bottom stage. The currency is undergoing a validation business in its new support area, awaiting the outcome that will define its future trajectory.
Experts Predict 266% Dogecoin Surge if Support Holds
According to market experts, Dogecoin will rise by 266% if it stays above this key support point, leading to a projected market value of $0.65. The value of Dogecoin would double five times from its trading rates. Market observers look at two significant trends to make their market predictions.
Investors keep buying Dogecoin actively even though the entire market falls. Investors who believe in Dogecoin will probably enter the market to stop the price drop. The ADX trend shows declining bearish strength because its line moves down. DOGE has better chances of rising when buying interest restores its previous levels during the next few weeks.
A positive outlook supports Dogecoin, but its path to a 5x surge depends on how well the larger market performs and external factors that affect it. Musk bringing X into the framework of DOGE payments will be the main boost to Dogecoin values.
Elon Musk consistently mentions Dogecoin in his Twitter posts, using the coin to process Tesla product sales. The acceptance of DOGE payments on X would cause widespread user adoption and push up its market value.
To see this bullish trend develop the entire crypto market needs to rebound from its current price decline. Markets and investors will analyze both Musk’s upcoming moves and market changes to predict Dogecoin’s chances for its expected 5x price increase.
#blockchain #crypto, #decentralized, #distributed, #ledger
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