The Dogecoin community and investors are gearing up for Dogeday, where people interested in modern meme culture will show great interest. Could it be a pump effect? A popular crypto whale shared his predictions in this direction…
Dogeday is approaching, pump expectation is rising
April 20 is considered “Doge Day” by many Dogecoin supporters. Before the celebration in 2021, the price of Dogecoin had increased 470% on a weekly scale, from $0.07 to $0.4. Meanwhile, the cryptocurrency market in general was in a strong bull run.
It is difficult to say that there may be a similar increase this year. Still, Dogecoin is showing a modest 7% increase over last week. It’s keeping the bulls strong for the Dogeday pump, despite losing around 5% in the last correction on April 19th.
Popular crypto whale Kaleo says Dogecoin price could move
Crypto whale and trader @CryptoKaleo with 580,000 followers thinks Dogeday can add volatility to the Dogecoin price. In his current analysis, “Dogeday is days away. “I still think we have a chance to see a pump for DOGE,” he said.
4/20 is only two days away
still think there's a chance we see a meme pump for DOGE pic.twitter.com/0jo470hEqd
— K A L E O (@CryptoKaleo) April 18, 2023
Elon Musk’s Twitter move could be the second catalyst for Dogecoin
As you know, Dogecoin has somehow become a cultural phenomenon in recent years thanks to the vocal support of figures like Elon Musk. The Tesla CEO has been an outspoken advocate of the meme-inspired cryptocurrency, often tweeting about it and even referring to it at any given opportunity.
In a hot development that we quoted as Kriptokoin.com, Musk announced as part of his plan to officially change the name of Twitter to X Corp next month. This plan aims to make the social media platform an “everything app” similar to China’s WeChat. The announcement states that Twitter no longer exists and that X Corp. It was based on court documents dated 4 and 10 April, which showed that it had merged with
In 2021, Muks activated his support to influence DOGE’s price. It goes without saying that Musk had a hand in DOGE’s 27.668% all-time increase. However, as market conditions worsened in 2022, the correlation between Dogecoin and Musk dropped.
In fact, Musk has tweeted about DOGE several times, but with little or no impact on price action. This means that the correlation between the two was split until recently, when Musk changed the Twitter logo to a dog in Dogecoin representation.
How is the DOGE price?
Dogecoin price is trading down 5.5% from the last 24 hours. A look at the market data shows that the momentum that brought Bitcoin down by $30,000 today was felt most on the leading meme. Similarly, BTC and ETH lost over 5% in the same time frame. We covered the developments behind the fix in this article.
61918
