In the Dogecoin (DOGE) community there is still hope for new ways to retrofit meme cryptocurrency and spread its functionality. Billionaire Elon Musk who integrated Dogecoin as a payment method both for Tesla and SpaceX, has reignited this enthusiasm with his love for DOGE matching his love for his companies.
In recent months, the Dogecoin community has encouraged DOGE’s reach to social media platform X (Formerly Twitter), which Musk also owns. @dogeofficialceo is a prominent Dogecoin advocate who suggested that if X done ever take off DOGE could be the payment option for X merchandise.
Dogecoin Analyst Predicts Possible Breakout
The playful proposal received strong community support and a notable endorsement from Billy Markus, co-creator of Dogecoin (2013) with Jackson Palmer, nicknamed ‘shibetoshi nakamoto’ on the Internet.
Meanwhile, cryptocurrency analyst Ali Martinez gives an optimistic view of DOGE’s possible market movement. On Thursday, however, Martinez shared a chart on X implying that DOGE’s price pattern was poised to break out shortly.
If, following rising above the resistance of $0.169, DOGE is able to get above, the scene may be set for a pumping that could see the coin increase by 27% to $0.209.
Musk then added insult to injury by posting a meme showing himself with a ‘‘victorious’’ biceps flexing pose as he posed next to a photogenic buffed up Shiba Inu dog, the Dogecoin mascot.
As someone known for his pet memeworthiness, Musk’s tweet revived hope in the DOGE community, keeping up his long-standing support.
As a whimsical turn, Musk has dropped hints he may take the reins at an org Musk calls “D.O.G.E.,” for the Department of Government Efficiency.
Details will be under wraps until a likely announcement in about 36 hours or so after November 5, but the mere suggestion has excited DOGE enthusiasts, who view Musk as such a critical player in pushing the cryptocurrency forward.
