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Dogecoin Bags +130% Gains as Elon Musk Teases DOGE Integration on Twitter

Dogecoin Bags +130% Gains as Elon Musk Teases DOGE Integration on Twitter

Key Highlights

Elon musk takes the rein of Twitter as enthusiasts see DOGE integration on the horizon;

Gokhshtein predicts Dogecoin could break an all-time high if Musk makes the move;

Nine-year-old dormant DOGE address has awoken,

DOGE whale activities surge.

Elon Musk Teases DOGE integration on Twitter

Dogecoin (DOGE) has been on fire since one of its biggest supporters, Elon Musk, completed his purchase of the behemoth social media platform Twitter.

Source: CoinMarketCap

The price of DOGE has more than doubled since Musk took the reins of Twitter, relieving a large percentage of the company’s staff. The centibillionaire has made numerous changes to the network, including the controversial introduction of an $8/month fee for the verification badge.

Dogecoin’s price swelled even more on Halloween, November 1, after Musk posted a tweet featuring the image of his Shiba Inu pet donning a piece of clothing with "Twitter" on it. This practically confirmed the hopes and expectations of many Dogecoin enthusiasts that the serial entrepreneur would integrate DOGE payment on Twitter.

Source: Twitter

If this happens, the meme cryptocurrency could record a massive spike within a relatively short period and, depending on how soon it occurs, could fuel the thawing of the crypto winter.

David Gokhshtein Says Dogecoin on the Verge of a Massive Breakout

In other news, the founder of Gokhshtein Media, David Gokhshtein, recently took to Twitter to share his thoughts and predictions.

Source: Twitter

Like many speculators, Gokhshtein noted that he believes Dogecoin could easily surpass its previous record high of $0.73, reached in early May 2021. However, his condition for this to happen is for Elon Musk to integrate the meme coin on the social media platform, as he hinted on multiple occasions.

The influencer also tweeted his regrets about not “going all in” on Dogecoin and Shiba Inu (SHIB) when he had the chance, as he believed both cryptocurrencies could go on a parabolic run in the next bull cycle.

Nine-Year-Old DOGE Wallet Awakens

Recent reports show that there has been an interesting “awakening” of a dormant DOGE address. The address has reportedly been inactive for the past nine years, the year Dogecoin launched, and reportedly holds 2,374,814 DOGE tokens.

Also, DOGE whale accounts have become more active in the past few days, with reports showing that large addresses have moved over 1 billion DOGE in the first two days of November.

Dogecoin on Fire

Dogecoin has become the most talked about cryptocurrency this week as it secured a 130% rally within seven days. The recent bull run has helped the meme coin slice through to the number 8 spot in the top crypto rankings.

DOGE/USD Daily Chart

That said, the cryptocurrency appears to have caught a snag around the $0.14 mark as it struggles to break the local resistance. However, the cryptocurrency is likely to suffer a substantial decline in the near term if the current hype surrounding Musk and Twitter fades.

Regardless, the general crypto market tone appears to be bullish, placing a floor on how far Dogecoin can slide.

DOGE Statistics Data

DOGE Current Price: $0.13

DOGE Market Cap: $18.2B

DOGE Circulating Supply: 132.6B

DOGE Total Supply: 132.6B

DOGE Market Ranking: #8

Feeling confident? Trade your idea on DOGE now

Disclaimer

This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.


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