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  • Writer's pictureSarah Dixon

Dogecoin Price Failing to Hit $1 Will Not Stop This New Crypto Rising to That Target

Dogecoin price is slightly bearish at $0.098; however, the upward channel is supporting the pair at $0.096. Earlier this week, Musk published a slide presentation on Twitter outlining his plans for the platform, sparking a surge in interest.

One slide has a “payments” section but no accompanying image or explanation of what Tesla’s creator intends to happen. As unverified rumors about Elon Musk incorporating Dogecoin into his plans for Twitter 2.0 spread, the price of Dogecoin surpassed the $0.1 mark and has remained there in the days since.

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The most recent rumors, whether true or false, have benefited DOGE/USD. It had the highest weekly increase of any of the top 50 digital currencies, making it one of the week’s best performers.

Twitter 2.0

Elon Musk, the billionaire entrepreneur, has revealed his plans to include payments in The Everything App, which he refers to as Twitter 2.0. On November 27, the new Twitter CEO detailed his plans in a tweet that included multiple slides from a recent “Twitter company talk.”

On the rumored Tesla Smartphone, Twitter will become an all-in-one app, with Dogecoin as the default payment method. Elon Musk’s vision for Twitter 2.0 began as a fantasy but quickly became a reality. He made the announcement after Apple threatened to remove the Twitter app from the App Store and issued a warning to Twitter and its CEO.

The opposing viewpoints of Musk and Apple sparked a heated debate on Twitter. It has, predictably, sparked a massive backlash on the site, with crypto enthusiasts blasting Apple’s greed and appetite for censorship. DOGE/USD increased significantly after Elon Musk, Twitter’s newly hired CEO, declared that he would reveal his smartphone if the company encountered problems in the major mobile app stores.

Macroeconomic Data Maintains Dollar Support

Following the release of macroeconomic data on December 1, the US Dollar remained under strong selling pressure, with the US Dollar Index falling below 105.00 for the first time since late June. The US Dollar is struggling to recover as investors await November employment data. The US economic data released in the afternoon session failed to spark a rise.

Despite a slight decrease in US inflation, it was not low enough to cause the Fed to delay raising interest rates. Powell, the Fed’s chairman, discussed a slower rate of interest rate increases on November 30. Powell’s claims were supported by statistics.

According to data released on December 1 by the US Bureau of Economic Analysis (BEA), the Personal Consumption Expenditures (PCE) Price Index fell from 6.3% in September to 6% year on year in October. The Index increased by 5.2% in September. Furthermore, the cryptocurrency market ended the day in the red.

US Nonfarm Payroll: Following an upwardly revised 284K in October, the US economy added an unexpected 263K jobs in November of 2022. With the economy returning to normal after the pandemic shock, this is the slowest rate of job growth since April of last year. In response to stronger US dollar events, the price of DOGE/USD has also dropped.

Dogecoin Price & Tokenomics

Dogecoin’s current price is $0.0990, with a 24-hour trading volume of $669 million. In the last 24 hours, Dogecoin has dropped 0.30%. The DOGE/USD began the day at $0.10165 and traded as high as $0.10340 and as low as $0.09730.

Dogecoin Price Chart – Source: Tradingview

CoinMarketCap currently ranks #8 with a live market cap of $13 billion. The circulating supply is 132,670,764,300 DOGE coins, and the maximum supply is not known.

Dogecoin’s immediate support is at $0.096 and an upward channel supports the possibility of a bullish rebound above this level. On the upside, Doge may target the next resistance level of $0.1115. Alternatively, a breakout on the downside could lead DOGE to the $0.087 support level.

In light of Dogecoin’s bearish bias, another coin that is making headlines is D2t.

Let us take a look!

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Dash 2 Trade (D2T)

Dash 2 Trade is a cryptocurrency analytics tool that also functions as a decentralized trading platform, allowing users to backtest their methods and examine how they performed in the past. It assists traders by allowing them to carry out transactions automatically without the need for human interaction. A number of Dash 2 Trade platform features will be extremely beneficial to investors.

Traders can also use trading signals to notify investors of market opportunities and encourage them to purchase or sell. With the use of strategy builders and social trading platforms, adopting strategies and trading may go much more smoothly than they would otherwise.

The project will be listed on the BitMart and LBank exchanges after the presale. The platform is powered by Dash2Trade’s native D2T token, and despite the fact that the presale has only recently begun, it is rapidly approaching the stage 3 conclusion.

D2T, the platform’s native token, will be used to pay for platform services and participate in community initiatives and competitions. The cryptocurrency is available for presale and has raised over $7.8 million. Its presale is nearing completion and is nearly 90% complete.

Visit Dash 2 Trade now

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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