Dogecoin price prediction is positive as it has risen above €0,0870 and is now trading at €0,0910. Dogecoin, on the other hand, is struggling below the €0.0965 resistance level, which is spanned by a 38.2% Fibonacci retracement level and a double resistance level above.
Let's take a closer look at the fundamentals and techniques of the market for Dogecoin.
Elon Musk could launch a phone
On November 26, Elon Musk responded to a tweet from podcast host Liz Wheeler, who feared that Twitter would be banned from stores where the two makers of smartphone operating systems sell apps that use iOS and Android software as part of the Elon's new policy.
In a tweet, Musk expressed concern that this could happen. If he's wrong, he promised to build his own phone.
It can also include a new operating system and an online application store.
DOGE/USD has risen significantly since Elon Musk, the new CEO of Twitter, announced that if the company encounters difficulties in major mobile app stores, it will launch its smartphone.
Speculations on the integration of Dogecoin with Twitter
Dogecoin (DOGE) continues to take center stage as Elon Musk aka “The Dogefather” transforms Twitter. Since Musk acquired Twitter on October 27, 2022, the market value of the best memecoin has more than doubled from $10.600 billion to $21.770 billion on November 1, 2022.
Furthermore, with 396 million users worldwide, DOGE is the second largest Proof-of-Work (PoW) cryptocurrency after Bitcoin. Musk praised Dogecoin as "the people's cryptocurrency" and even joked that Dogecoin could be used to pay for his online surveys. In this scenario, Twitter users will be able to reward creators with popular cryptocurrencies like Dogecoin DOGE.
Musk confirmed this on Twitter Spaces, adding "Dogecoin on the moon!" before confirming his support for the canine game with his wild dance moves.
Furthermore, the adoption of Dogecoin as the default payment method on Twitter could break the ice for cryptocurrency adoption. The news that Twitter could soon integrate Dogecoin pushed the price of DOGE/USD higher.
Skip to Proof of Stake
David Gokhshtein, the founder of Gokhshtein Media and a cryptocurrency podcaster, believes that Ethereum co-founder and Twitter CEO Elon Musk will collaborate to upgrade Dogecoin.
Gokhshtein tweeted on Nov. 25 that he hopes Musk and Buterin will work together on Dogecoin. He assumed this because the Ethereum co-founder had previously suggested in his comments that the original meme token should use the proof-of-stake consensus mechanism.
Musk has already worked hard to make DOGE more powerful.
Vitalik has the legal authority to approve such requests. He is a member of the Dogecoin Foundation, as well as an observer and co-creator of Ethereum.
Also, the move to PoS is mentioned in the Dogecoin roadmap.
Such a change could increase Dogecoin's appeal, especially among environmentally conscious cryptocurrency users. This could have a positive impact on the DOGE/USD price.
Dogecoin and Tokenomics Prices
The current price of Dogecoin is €0,0919, with a 24-hour trading volume of €971 million. Dogecoin is up more than 4% in the last 24 hours. CoinMarketCap currently ranks eighth with a live market capitalization of €12 billion. The circulating supply is 132,670,764,300 DOGE coins.
On Saturday, DOGE/USD opened the day at €0,0894 and rose to a high of €0,09539 and a low of €0,0890.