Billy Markus, who created the original meme-themed cryptocurrency Dogecoin in collaboration with Jackson Palmer, published an ironic article about DOGE Coin. Markus expressed how much he wants the price of the meme coin to rise. Meanwhile, one analyst says the bull run for Dogecoin has just begun.
DOGE Coin prediction from Shibetoshi: It better beat IBM!
We know Shibetoshi Nakamoto for his typically sarcastic and playful tweeting style. Now Nakamoto has said that he wants Dogecoin to reach or even exceed a market capitalization of $210.27 billion. This would make Dogecoin bigger than IBM in terms of valuation. Markus says that would be good. Because it will be more valuable than any place he has ever worked. “That would be funny,” Shibetoshi concludes with dark irony. In his tweets, Markus often states that he prefers to stay away from active participation in the cryptocurrency space.
He has said many times that he has no plans to create a new cryptocurrency or a crypto meme. This is why DOGE Coin remains the only brainchild operating in the crypto space these days. It is in the top 10 list largely thanks to Elon Musk’s support and the current growing trend for memes on the internet. However, an X user asked Markus if such a large market cap level would be sustainable at the current rate of inflation. The user said that in order to maintain this level, it would be necessary to “create about $7 billion of new DOGE per year.” Shibetoshi Nakamoto responded with a GIF saying “Who knows?”!
The original meme coin surpasses Bitcoin!
Dogecoin (DOGE) has so far outperformed Bitcoin year-to-date. Since January, BTC prices have increased by 119.62%. As you’ve been following on Kriptokoin.com, DOGE Coin has risen by 355.51% over the same period. Presumably, DOGE has found support not only from the BTC bull run, but also from the fact that the upcoming US cabinet will be much more favorable for cryptocurrencies.
Analyst: DOGE Coin has just started!
The price momentum oscillator (PMO) is a technical analysis indicator that calculates the rate of change in an asset’s price, smoothed twice with exponential moving averages to reduce volatility and give a clearer idea of price movements. Understandably, in past instances when DOGE has made parabolic rallies, the indicator has reached high levels. But on a weekly basis, the PMO is still at lows, as technical analyst Trader Tardigrade explains in detail.
While the disparity is evident, readers should keep in mind that PMO, like all technical indicators, is not 100% reliable. This is because it is a lagging indicator and smooths prices over time. This makes it slow to react to rapid price changes. On the other hand, there is plenty of evidence that this signal is legitimate. According to the analyst, the broader market bullish DOGE has a long-term price target of $3.50. The analyst says it is in a parabolic growth channel that suggests this.
The opinions and forecasts in the article are those of the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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