The price of Dogecoin (DOGE) has been constantly surging and it is not coming to an end. The bulls are holding very strong and positive sentiments due to the possibility of the meme coin being adopted by Twitter.
The report shows that in the past week, the trading price of DOGE has surged over 24% and the speculations still remain bullish.
This indicates that the trading price of the asset may continue surging. Elon Musk may play a very significant role in making that happen for the meme coin.
For a while, Musk has teased integrating DOGE into Twitter as a payment method. He proposed that after getting his hands on Twitter, he would change it to a payment platform like PayPal.
After the acquisition of Twitter, Elon Musk has taken his claims to the next level. He now claims that Twitter will be upgraded to an “Everything App”, like WeChat.
The latest claims from Elon Musk have injected even more positive hopes and sentiments among the DOGE members about the meme coin’s future.
Due to Elon Musk, the rallies for Dogecoin are not coming to an end. People have very high anticipation about the DOGE’s integration into Twitter as a payment method.
If that happens, the trading value of Dogecoin would rise tremendously and it may even surge over $1, hitting an all-time high.
DOGE’s Past Seven-Day Performance
Prior to DOGE’s 24% rally, the value of the largest meme coin was at a low of $0.08189. With the anticipation growing in favor of Twitter and Dogecoin, the rallies have continued to grow stronger.
Following the strong rally, the trading value of DOGE has surged to a high of $0.1031. CoinGecko and CoinMarketCap data show that the price of DOGE surged over 24% to reach this level.
The hopes are still high and even at the time of writing, DOGE stays over the $0.1 mark that it had crossed back on Thursday.
The price pump was recorded last Sunday when Elon Musk shared screenshots of the new Twitter 2.0. It showed some features of the new Twitter platform but it did not show anything specific about DOGE.
Still, Musk sharing the screenshots for Twitter 2.0, a promise that he is fulfilling, has filled the DOGE investors with a lot of hope. They believe Musk will also fulfill his other promises including DOGE.
Just as Musk shared the screenshots, the value of DOGE started to surge. Even now, investors are hopeful that Elon Musk will integrate DOGE, although there are no confirmations from his end suggesting that.
Impact on Dogecoin
Elon Musk is performing well in the wake of Elon Musk’s work on the new version of Twitter. With more updates coming from the development of Twitter 2.0, the price of DOGE may rise even higher.
If things keep going in favor of DOGE, then its price may surge to a high of $0.15 and then keep moving forward. For now, the technical factors and the indicators do not matter.
This is because of the influence of Elon Musk over Dogecoin’s market. The technical indicators may point towards a negative trend at one moment but become very bullish the next moment.
Performance of Huobi Token
Although the Huobi Token has no connection with DOGE, still its strong performance has granted it the right to be mentioned.
It is the only token that has demonstrated performance as strong as DOGE in the same period. The value of the Huobi Token (HT) has surged 22% in the past seven days.
The HT trading price surged after the Huobi exchange officials announced they had partnered with Poloniex.
As the market collapse continues, Dogecoin has an opportunity to outshine the rest of the major currencies. If things go in favor of the asset, it may end up surging over $0.50 by the end of 2022.