Over the weekend, Dogecoin’s (CRYPTO: DOGE) value soared by more than 10% following the creation of a dedicated account for the planned payment feature on Elon Musk’s “everything app” X, previously known as Twitter.
What Happened: The account in question has not made any posts yet, but it has been verified, as seen by its gold badge, and is marked with an X badge, indicating its connection to the X app.
Pseudonymous cryptocurrency analyst Johnny predicted DOGE to reach $0.10. “$DOGE break out — retest complete. Now at a big level — flips this and can see the next leg higher towards $.10. New narrative starting — X Payments account just created…Rumors that X / Twitter will start using DOGE as the universal payment for X.
$DOGE break out — retest completeNow at a big level — flips this and can see the next leg higher towards $.10New narrative starting —- @XPayments account just created…Rumors that X / Twitter will start using DOGE as the universal payment for XAll eyes on @elonmusk over… pic.twitter.com/vBpPnQVdt2
— Johnny (@CryptoGodJohn) January 21, 2024
Amid speculation, another analyst known as Peppe added Dogecoin to his holdings, citing the ongoing speculations about X Payments. “Added $DOGE spot to my portfolio here with the @XPayments speculations ongoing. Wanted to long last night but had a limit for $0.085 that got it,” said Peppe.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Analysts, including Peppe, suggest that excitement around Dogecoin could lead to increased interest in similar coins like FLOKI (CRYPTO: FLOKI). It should be noted that FLOKI’s market value climbed from $266 million to $300 million on Sunday.
“Added more $FLOKI to the bag as well as I expect when the one and only king of memecoins will fly that coins like $FLOKI will follow,” added Peppe.
Added more $FLOKI to the bag as well as I expect when the one and only king of memecoins will fly that coins like $FLOKI will follow. https://t.co/quFvYDmQsE pic.twitter.com/ryNfnC7bci
— Pepper (@CryptopepperP) January 21, 2024
Another analyst Crypto Tony pondered the potential for FLOKI, asking, “So FLOKI [is] going to be the next DOGE or what…”
So $FLOKI going to be the next $DOGE or what ..
— Crypto Tony…
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