A recent tweet from Tesla CEO Elon Musk regarding Dogecoin (DOGE) has once again sparked curiosity within the crypto market.
Despite not triggering an immediate bullish move, past experiences show that DOGE prices often surge after such statements from Musk.
The Tesla head’s strong advocacy for Dogecoin’s potential as an alternative to fiat currencies remains a powerful influence.
Nevertheless, DOGE has seen a 20% slump in the past month, while new meme tokens like Wall Street Memes are experiencing impressive growth.
Unraveling Musk’s Influence on Dogecoin
Initiated as a joke, Dogecoin has made a mockery of its meme origins by gaining substantial value, largely due to the consistent endorsement from Elon Musk, or the “Dogefather,” as he’s often called.
Musk’s public moves have been catalysts for Dogecoin’s market performance. When Musk acquired 9.2% of Twitter’s shares in April 2022, Dogecoin saw an immediate 20% rise.
Similarly, Dogecoin saw another surge upon news of Musk’s $44 billion bid to acquire Twitter. Additionally, when Musk expressed the idea of accepting DOGE for Tesla merchandise in December 2021 and January 2022, the meme crypto saw significant price spikes.
Beyond its meme status, Dogecoin’s core intention was to be a more accessible peer-to-peer digital currency than Bitcoin, a potential that Elon advocates.
Most recently, Musk tweeted, “Cry ‘Havoc!’ and let slip the Doges of war,” generating speculation within the community.
This tweet’s Shakespearean reference suggests upcoming disruption or dramatic change, possibly hinting at a significant event for Dogecoin.
Dogecoin’s current trading value hovers around $0.061, reflecting a 10% drop over the past week. Like many altcoins, Dogecoin has suffered a bearish trend lately.
However, a rebound from the $0.061 support level could spur a rally, provided bulls can find the momentum to break free from the $0.7-$0.8 resistance range.
However, the recent lack of recovery in Dogecoin’s value after Musk’s tweet suggests a more robust push is needed to initiate a strong rebound.
This need is further highlighted by a recent lawsuit accusing Musk of ‘insider trading’ to manipulate Dogecoin’s price.
While the lawsuit’s impact on Dogecoin’s value is yet to materialize, its uncertainty is shifting investors’ interest toward new, high-potential meme coins like Wall Street Memes and AiDoge.
Wall Street Memes is the New Meme Token That’s Raised $7 Million – Could it be the Next DOGE?
Wall Street Memes is a new meme token achieving milestones amid market uncertainty. Originating from the creators of the Wall St Bulls NFT collection that sold out within a few minutes, the token offers a chance to those who missed out on the previous meme coin wave.
The platform has a strong community backing with a following of over a million supporters across several social platforms.
Its presale mirrors this success, with an initial collection of over $300k on its launch day, totaling nearly $7 million within less than three weeks.
The influential support prevents the ‘pump and dump’ trends commonly linked to meme coins. Also, such a start increases expectations for potential listings on leading platforms like Binance.
Even personalities like Elon Musk have shown interest, engaging with Wall Street Memes’ posts on Twitter. Moreover, community engagement can spike further, with an airdrop planned to reward five winners.
The platform’s tokenomics are fully community-centric, offering a limited supply of 2 billion tokens. A significant half is reserved for presale buyers, with the remaining ensuring exchange liquidity and user rewards.
Many analysts agree that $WSM’s community backing and its possibility of rising in the meme coin trend makes it a potential 10x crypto.
Visit Wall Street Memes
AiDoge is Building an AI-Powered Meme Creation Platform Raised $14.9 Million, Ready For IEO
AiDoge ($AI) is another meme token catching investors’ attention that capitalizes on the dual trends of memes and artificial intelligence.
AiDoge rushed through its presale phases and raised $14.9 million relatively quickly, achieving its presale hard cap goal within four weeks. As a result, now the platform is preparing for its Initial Exchange Offering (IEO), due on 19 June.
What sets AiDoge apart is its AI-powered meme generation. Users can leverage the power of artificial intelligence and text cues to make engaging memes.
Also, AiDoge’s smart contract has been thoroughly scrutinized by the security firm, Certik. This provides additional assurance of the project’s credibility.
On the platform, staking $AI tokens offers many advantages. Stakers earn additional tokens, acquire voting rights for key developmental decisions, and access premium features like exclusive contests.
The AiDoge ecosystem will also unveil a public wall for rating memes and a system for rewarding top participants.
As AiDoge’s presale has ended, buyers have a last chance to buy AiDoge at its listing price of $0.0000336.
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