Dogecoin price has seen a stronger increase in the last few days. The memecoin was an exception in a market where altcoins have tended to lose in recent days. This is mainly due to the rebranding of Twitter to X by DOGE fan Elon Musk. Can Dogecoin reach 10$ when Twitter becomes X?
How did Dogecoin Perform recently?
The Dogecoin price has seen a stronger increase in the last few days. The DOGE price rose from $0.065 to $0.079. This represented an increase of over 10 percent over the past few days.
This made Dogecoin one of the few altcoins to see gains over the past few days. Because in the last 7 days, Bitcoin and most Altcoins have been in the red. The DOGE price is a very positive exception.
Why was the DOGE able to increase so much?
The Dogecoin (DOGE) course was able to benefit from the rebranding of the short message service Twitter to X with a strong increase. Because now investors are hoping that Elon Musk is planning to introduce the Dogecoin as a currency on a possible new payment platform.
Because X wants to become a “platform for everything” and thus take on tasks such as communication and payments. If Dogecoin could become a core part of the platform, the price could skyrocket in the coming months and years.
Can the Dogecoin price hit $10 soon?
After this step by Twitter and the positive reaction from the Dogecoin price, investors are already dreaming of imminent explosions in value. A DOGE price of $10 is a popular target for the memecoin to aim for, however a bit far from reality.
In the current bear market, we have hardly seen the typical bull runs that cause the Dogecoin price to rise by a factor of 10. But in the bull market, those bull runs could come back.
Therefore, it is likely that at the top of the upcoming bull market, a price of 1 dollar is rather more realistic, in case investors had still interest in pumping Dogecoin higher.