Is it Too Late to Buy Dogecoin? DOGE Rises 15% After Musk Tweet, This Crypto Might Pump Next
The post Is it Too Late to Buy Dogecoin? DOGE Rises 15% After Musk Tweet, This Crypto Might Pump Next appeared first on Coinpedia Fintech News
Dogecoin is the highest-gaining cryptocurrency out of the top 40 – and it’s giving the market de-ja-vu – the man behind the pump is Elon Musk. Can it keep rising?
But as Dogecoin outperforms its peers, traders are turning to the Crypto All-Stars presale, which is raising funds to build a staking app that lets you stake DOGE and other meme coins.
More Gains to Come After Musk Teases That D.O.G.E Fixes Major Beuracratic Threat to Human Progress
Dogecoin is pumping again as Elon Musk returns.
Over the past 24 hours, Dogecoin has jumped 6.8%. It’s also up 15.7% this week, currently priced at $0.1249.
Musk tweeted on Tuesday that “D.O.G.E will fix it” in response to a Los Angeles Times article about California officials preventing Musk’s SpaceX from conducting more rocket launches.
The D.O.G.E he was referring to is an idea posed by former President Donald Trump about a government efficiency commission – Department Of Governmnet Efficiency – which Elon would lead if Trump regains the White House in the November election.
D.O.G.E will fix it
— Elon Musk (@elonmusk) October 15, 2024
What does this mean for the Dogecoin price?
Should Trump win the election, Elon Musk would officially lead a department in the U.S. government with the acronym DOGE.
Given Musk’s influence over the Dogecoin valuation in 2021, this could create a massive tailwind for the world’s largest meme coin to continue growing.
While it has pumped 15% this week, analysts see this as a minor gain compared to what might follow.
For instance, Bluntz notes it is “so close to a major breakout” as it approaches a resistance level set in September.
Meanwhile, Ali Martinez, an analyst known for fair and grounded predictions, is even looking toward the $10 mark for Dogecoin this cycle.
He notes that Dogecoin is trading inside a rising channel and is currently at support. Based on Martinez’s chart, the resistance would be $10.
That would place Dogecoin at a market cap of over $1 trillion, which indeed seems unrealistic.
However, with the world’s richest man – who is an avid Dogecoin proponent – potentially leading the U.S.’s D.O.G.E, massive gains cannot be ruled out.
Should Dogecoin rise as expected, it will open lower market cap meme coins to potentially even more returns.
One project showing great strength amid Dogecoin’s ascent is Crypto All-Stars, the world’s first meme coin staking app.
Crypto All-Stars is Bringing Staking to Dogecoin & Other Meme Coins
Crypto All-Stars is raising funds via a presale to build a unified meme coin staking app.
Picture this: the Dogecoin price is going parabolic, rising daily. However, you’re not just generating profits from the rising value; you’ve also staked your DOGE and are earning compound interest.
That’s going to be a reality when Crypto All-Stars launches.
And it’s not just Dogecoin that users can stake. Crypto All-Stars’ MemeVault will also support Shiba Inu, Pepe, Bonk, Floki, and more.
But there’s a catch: users must hold $STARS, and the amount they have determines how much they can earn.
It’s a setup that unites all meme coin holders under one token, and that could create massive buying pressure.
Investors can also stake their $STARS for further rewards. This has generated a massive buzz among analysts.
Umar Khan said it can 100x in price in a video on the 99Bitcoins YouTube channel.
The analyst also called it a “presale gem” and said, “It is going absolutely crazy.”
The Crypto All-Stars presale has raised $2.4 million so far, illustrating considerable appetite among investors.
Currently, the presale price is $0.0015067, but this will rise in two days.
