Is Elon Musk Giving Crypto Memes a Boost After Rumor On Twitter?

Additionally, Dogecoin could repeat its 2020 pattern, which saw the popular crypto meme rise 15800% after a long plateau.

DOGE Price Forecast – Can Elon Musk Crypto Tweet Boost Dogecoin?

The Dogecoin price has risen sharply today and is currently at $0.20 after an increase of more than +9% in the past 24 hours. Dogecoin is having a strong week and is up +29% in the last 7 days while Bitcoin is once again above $70,000.

Both Dogecoin’s 30-day average (yellow) and Relative Strength Index (RSI) are climbing sharply. The yellow chart indicates strong support for Dogecoin paving the way, while Dogecoin’s slightly overbought RSI points to a lot of buying pressure.

And with rumors of Dogecoin as a means of payment growing stronger on Twitter, DOGE could rise even further in the coming weeks. Elon Musk, the owner of the social media platform and a big fan of Dogecoin, also supports the meme coin as a means of payment through his companies Tesla and SpaceX.

The billionaire also said in 2021 that Dogecoin could become an important means of payment in the future. Musk would also make Dogecoin the official currency of Mars in the event that SpaceX manages to establish a colony on the planet.

But before we have the first people on the march, there seems to be a good chance that Dogecoin will soon be able to be used on Twitter as a means of payment.

The circle will be complete
pic.twitter.com/QkT7K9QBJF

— Elon Musk (@elonmusk) March 25, 2024

Although they are still nothing more than unconfirmed rumors, an exception for Dogecoin as a means of payment on Twitter seems almost impossible. The only question remains when this will ultimately happen, as rumors of Dogecoin as a means of payment have been circulating on Twitter for years.

A report from Cointelegraph shows a comparison between Dogecoin in 2020, which experienced a strong pump after a long period of consolidation. The current situation of Dogecoin is very similar to that of 4 years ago and if this pattern repeats, Dogecoin could rise sharply.

While a +15,800% pump from this point would be difficult (Dogecoin will have a market cap of $4.5 trillion, larger than crypto’s market cap at $2.66 trillion), Dogecoin could potentially set a new All-Time High and even become $1 this year.

This is also a matter of waiting and wondering how long this could last. Meanwhile, an alternative to Dogecoin has been launched with an attractive form of utility, a low market cap, and plenty of room to rise. This alternative crypto meme has received quite a lot of attention in a short time and may therefore soon explode in value.

Dogecoin20 (DOGE20)

Dogecoin20 (DOGE20) is an alternative to Dogecoin that launched about 2 weeks ago and has already raised over $10 million in its presale. The new crypto meme retails for a low price of $0.00022 and can be staked early for passive income.

The reason why investors are choosing Dogecoin20 en masse is that the meme coin can piggyback on the original Dogecoin, but has additional advantages. Not only can you stake DOGE20 to passively make money with crypto, you will also be part of a new community led by a team that donates to charities.

https://twitter.com/DOGE_COIN20/status/1773273876811632805?s=20

Dogecoin20 will be launched in April on its first decentralized exchange and could increase rapidly in value due to its current popularity. You now have the chance to buy DOGE20 for a fixed low price and earn extra tokens by staking the ERC-20 token.

Slothana (SLOTH)

Another attractive alternative to Dogecoin is Slothana (SLOTH), a popular crypto meme on Solana that started its presale this week and has already raised over $1.1 million. The sloth wants to give people the opportunity to earn money in a lazy way.

If you’re tired of regular work life, SLOTH is a promising crypto meme to keep an eye on. The meme coin will soon launch on its first exchange and is also said to be planning a major airdrop for token holders.

🚀 Exciting news, fellow lazy sloths! Our ‘Lazy Sloth Buy Widget’ is now LIVE on Slothana’s site! 🌿🦥 No more excuses – even the laziest among us can now send SOL with ease. Say no to slovenly sloth and yes to crypto chad lambo time!💸 #Slothana #LazyCrypto #MemeCoin

— Slothana (@SlothanaCoin) March 27, 2024

?s=20

Right now you can buy SLOTH for 1 SOL per 10,000 tokens. After launch, Slothana aims to reach a market cap of $420 million, potentially allowing early investors to make decent profits.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.