While some remain skeptical of long-term prospects of Dogecoin, there is no denying that it has made big impact on crypto market
Bluntz, a popular cryptocurrency trader, has predicted a massive price surge for meme coin Dogecoin (DOGE) against Bitcoin (BTC), the flagship cryptocurrency. According to Bluntz, DOGE/BTC is “gearing up for a revenge pump of probably 100% or more.”
This bullish outlook on Dogecoin might come as a surprise to some in the crypto community, who dismissed the joke currency as a fad. The meme-inspired token remains among the top 10 biggest cryptocurrencies, with its market cap approaching $13 billion.
Bluntz appears to be certain that the price of Dogecoin will continue to rise, stating that it would be “negligence” not to have a stake in the currency. This sentiment is shared by some other traders, who see the rapid growth of Dogecoin as a sign of things to come.
In a separate tweet, the trader pointed to the fact that the DOGE/USD pair has also broken out.
As reported by U.Today, Twitter is seeking regulatory licenses to launch a payments platform, as part of CEO Elon Musk’s plan for a diversified revenue stream and an “everything app.” The announcement caused the price of Dogecoin (DOGE) to surge by 7%. Even though only fiat payments will be available from the get-go, Twitter intends cryptocurrencies at a later date.
The social media platform recently appointed a small team to map out the platform’s architecture. However, the move into payments faces competition and high regulatory scrutiny.
Dogecoin’s price has been sensitive to Musk’s actions and statements, soaring in October after his Twitter deal and taking a hit in November after Twitter scrapped its crypto wallet plans.
Written by: Alex Dovbnya
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