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Investing in meme coins: opportunities after Dogecoin’s price jump

4 min read

Dogecoin, known as one of the first meme coins, has stood out from other cryptocurrencies with a remarkable price increase of almost 4% in the last 24 hours. This development, predicted by crypto analyst Muro, illustrates the growing interest and importance of meme coins in the crypto market. So what opportunities and possibilities arise?

Meme coins have definitely created their own niche in the crypto sector. They are characterized by their community-driven popularity and their above-average potential for returns. These characteristics can lead to rapid price changes, creating both opportunities and risks for investors.

Dogecoin’s rise could also indicate a larger trend reversal in meme coins. Investors may now consider similar meme coins in hopes of achieving similar success. These coins could be attractive to investors looking for alternative opportunities in the crypto world. Because the current dynamics in the crypto market could be a good time to get into other coins.

Dogecoin pumps 4% – crypto analysts have predicted it

Dogecoin, one of the most popular meme cryptocurrencies, recently saw an extraordinary price surge to $0.081 – up nearly 4% in just 24 hours. This surprising growth could be partly due to predictions from crypto experts like Muro, who had predicted that such a development would occur.

Muro had already written a tweet yesterday in which he announced:

“Kinda feel like $DOGE is popping”

Shortly afterwards, Dogecoin lost some of its value, but Muro wrote that his sixth sense was correct, but Dogecoin retreated again. According to Muro, these fluctuations could indicate a renewed increase.

But there is also speculation that this increase was fueled by rumors that X (formerly Twitter) would accept Dogecoin as payment. Such rumors can significantly influence the demand and therefore the price of a cryptocurrency. The reason for the bubbling rumor mill is a new account on X, namely @XPayments , which has not yet published any posts. However, users assume that there will soon be an announcement about Dogecoin as a means of payment on X.

Does Dogecoin come as a means of payment?

Elon Musk, the visionary CEO of SpaceX and Tesla, has mentioned several times in the past that he has a strong interest in using Dogecoin as a means of payment. Interestingly, Tesla, one of its pioneering companies, accepts Dogecoin as the only cryptocurrency for purchasing merchandise. This raises the exciting question of whether SpaceX could also introduce Dogecoin as a payment option in the foreseeable future.

In a recent, insightful interview with well-known commentator Ben Shapiro, Elon Musk spoke about X’s ambitious vision for the future. He hinted that payment options will be introduced at X later this year. His idea is that X should achieve what PayPal should have been in his eyes – a pioneer in the digital payments industry.

This exciting development, coupled with the fact that a new account called XPayments was created in January 2024, suggests that Dogecoin could indeed soon be introduced as a payment method at X. It is also well known that Elon Musk is a declared fan of Dogecoin.

In the past, he has not only posted about Dogecoin on social media several times, but also, for example, changed the logo of X to a DOGE logo in April 2023.

This led to a notable increase in the price of Dogecoin. At that time, Musk already hinted that he was considering Dogecoin as a means of payment for some kind of subscription fee.

But it’s important to emphasize that nothing is set in stone yet. Although the rumor mill is churning and speculation is increasing, it remains exciting to see what the future will bring in this regard.

It should be noted that Dogecoin is extremely volatile, which is why investors like to keep an eye out for new coins, especially in the meme sector.

Meme Kombat as an alternative? 

Meme coins, such as Dogecoin and Shiba Inu, are currently experiencing remarkable momentum in the cryptocurrency market. Especially in the pre-sale phase, these coins often offer attractive starting prices, which can increase after the official listing.

As an example, when Dogecoin was launched in December 2013, its price was extremely low, roughly in the range of $0.0002 to $0.0003 per coin. This extremely low entry price was partly due to the fact that Dogecoin was originally launched as a joke or meme coin and was not initially viewed as a serious investment. But you have to think of it this way: If you had invested $1,000 in Dogecoin back then, you would have made an impressive profit of $404,000 today. This is also the reason why many investors are looking for new projects.

Meme Kombat (MK) is one such project that is currently in this exciting phase and has already reached a new milestone with a revenue of $7.6 million.

As an innovative gaming platform, MK allows players to acquire and use $MK tokens to bet on various meme-based battles.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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