The Dogecoin Foundation has recently introduced “Dogebox,” an initiative aimed at accelerating the adoption of Dogecoin ($DOGE) by small and medium-sized businesses.
While Elon Musk’s playful tweets regularly cause price spikes, the crypto community wonders: can this crypto boost push $DOGE to $1?
With Musk’s influence and the Foundation’s ambitious plans to scale Dogecoin globally, speculation about the future value of this meme coin is growing.
In this article, we delve deeper into the factors that could drive Dogecoin’s price and explore whether $1 is truly achievable.
Musk Boosts Dogecoin Price Once Again
Elon Musk’s tweets about Dogecoin, combined with the new developments by the Dogecoin Foundation, are the two main reasons why Dogecoin has recently received so much attention in the market.
Musk is a staunch supporter of this meme coin, and the Dogecoin Foundation is determined to achieve mass adoption for $DOGE with developments like Dogebox.
Tesla CEO Musk is famously known for his unwavering support for Dogecoin and is often called the “Father of Doge” or “The Dogefather.”
His tweets about $DOGE have consistently had a positive impact on the market.
Recently, Musk tweeted a meme showing Doge hovering over the planet with the caption: “@DOGE is inevitable.”
Crypto enthusiasts are debating whether Musk is referring to Dogecoin or DOGE (Department of Government Efficiency).
Since the announcement that President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency, this connection has been widely discussed.
Regardless, $DOGE’s price saw a surge shortly after Musk’s tweet.
Dogecoin Foundation Announces ‘Dogebox’
The Dogecoin Foundation recently explained on X (formerly Twitter) that they are continuing their open-source work while further developing the new Dogebox Decentralized Infrastructure System.
Dogebox plays a crucial role as a vehicle to onboard one million retailers to accept $DOGE payments. This development would then enable businesses to directly accept Dogecoin as a payment method, paving the way for mass adoption.
The Dogecoin Foundation reiterated its mission to increase the adoption of Dogecoin as a useful currency for daily payments.
It was also revealed that Vitalik Buterin, along with another anonymous Dogecoin enthusiast, has made generous contributions to support these new developments.
The combined efforts of the Dogecoin Foundation and influential figures like Elon Musk ensure that Dogecoin is well-positioned to reach new heights and achieve mass adoption.
Can Dogecoin Reach $1?
$DOGE recently hit its highest price of the year at $0.48 on November 23 but has since fallen by about 15%.
This pullback brought the meme coin back into the range of its “ascending triangle” pattern, a bullish continuation pattern characterized by rising support and a horizontal resistance level.
Notably, the cryptocurrency briefly broke above the triangle’s resistance at around $0.45 last week but failed to maintain the breakout, leading to a correction.
On November 26, $DOGE tested the triangle’s lower trendline as support at around $0.39.
If this support holds, it could trigger another upward move. The triangle’s technical target for December is $0.58, representing a potential 45% rally from current price levels.
This would bring Dogecoin closer to $1, potentially achievable by the end of 2024.
Other Meme Coins Poised for Growth
With Dogecoin’s momentum, other meme coins are also gaining traction. Two notable ones are CatSlap ($SLAP) and Flockerz ($FLOCK).
CatSlap ($SLAP)
The world of cryptocurrency occasionally craves fun and rivalry, and CatSlap ($SLAP) delivers just that.
Its associated cryptogame has become wildly popular, and it’s easy to see why. Who wouldn’t enjoy the chance to play as a cat swiping at anything in their way?
In CatSlap, you can attack memes like Pepe and $DOGE, competing against other catslappers worldwide. Scores are tracked globally by country.
CatSlap has directly entered competition with well-known cryptocurrencies like PopCat, proving its potential upon launch. Within a week, this meme coin surged over 2000%.
CatSlap’s growth is bolstered by enticing community rewards, staking incentives, and a legendary cryptogame that could evolve into a play-to-earn experience.
Purchasing CatSlap tokens is easy via the Best Wallet app, or directly from the website, where you can stake tokens for extra rewards.
Staking tokens for at least seven days offers an APY of 40%. Currently, $SLAP tokens are priced at $0.00256466 each.
Flockerz ($FLOCK)
Flockerz ($FLOCK) is striving to create the most cohesive community within the meme coin space. Their innovative Vote 2 Earn system is showing positive results.
Since the presale launch, Flockerz has successfully raised $3.3 million in investments, and the total continues to grow, reflecting strong investor confidence.
All $FLOCK token holders gain immediate voting rights, allowing them to participate in decisions on various open topics.
By sharing opinions and casting votes, holders influence the project’s direction while earning rewards that benefit their wallets.
Interested in joining the people’s meme coin? This might be the one for you! Just a few clicks separate you from acquiring your first $FLOCK tokens.
Visit the Flockerz website to purchase tokens and join the project’s voting system. You can link your wallet and make payments using crypto or a credit card.
The post Dogecoin Foundation Introduces “Dogebox” – Can Elon Musk’s Crypto Talk Push DOGE to $1? appeared first on Cryptonews.
