Does DOGE Need Elon Musk To Replicate 2021 Surge? 2 Alternatives Already Performing Better In 2024

9 March 2024

in DOGE

Reading Time: 4 mins read

Does DOGE Need Elon Musk To Replicate 2021 Surge? 2 Alternatives Already Performing Better In 2024

Dogecoin (DOGE) has seen a resurgence in 2024, with prices climbing over 65% in the past week to reach $0.1414 at the time of writing. However, despite the recent price hike, some metrics indicate that DOGE may be nearing the end of its bull run. This begs the question – does DOGE need another Elon Musk tweetstorm to replicate its massive 2021 surge? Or are there better alternatives already outperforming DOGE in 2024?

Doge2014 Celebrates 10 Years of Dogecoin and the Meme Coin Craze – Up to 50% Presale Bonus for Early Birds

30 July 2024

Dogecoin Proponent Elon Musk Reveals Why He Doesn’t Really Like Crypto

30 July 2024

The Road Ahead for Dogecoin

Analysts at World of Charts predicted that DOGE could see over 135% gains earlier this month, potentially reaching $0.265. However, our analysis shows strong resistance near $0.143, meaning a breakout above that level is needed to trigger further upside. In 2021, Elon Musk’s relentless tweets about Dogecoin were a key driver of its meteoric rise. DOGE skyrocketed over 12,000% from $0.005 in January to an all-time high of $0.7376 in May 2021. Since then, prices have plunged nearly 90%. Musk’s tweets have been far less frequent in 2022 and 2023. This reduced hype has been a significant factor in DOGE’s decline. For DOGE to experience another massive breakout, it may need Musk to start tweeting about it regularly. However, relying on one ultra-wealthy figure to pump DOGE’s price is not a sustainable long-term strategy. More organic adoption and real-world utility will be needed to justify significant gains.

[crypto-donation-box]

2 Alternatives Outperforming DOGE in 2024

Unlike DOGE, created as a joke and has an inflationary supply, other tokens deliver real utility and outperform it substantially in 2024. Retik Finance (RETIK) and Shiba Inu (SHIB) are two standout examples.

Retik Finance Leads the Pack

As a multi-chain DeFi ecosystem, Retik Finance is designed for real-world crypto adoption and everyday utility. Key products include:

DeFi debit cards for private, convenient spending worldwide
An AI-powered lending protocol for optimized returns
A non-custodial wallet to control assets across chains
A swap aggregator for the best rates across DEXs
A payment gateway to accept crypto for businesses
Perpetual futures/options trading from its app

In particular, Retik’s debit cards are a game-changer – allowing truly private transactions without KYC and enabling crypto to be spent easily in real-world settings. After a wildly successful $32 million presale, Retik Finance (RETIK) will be listed at $0.15 at a date to be communicated on Retik Finance socials. A $5000 celebration giveaway is now live after Retik Finance’s presale success! To enter, create a unique photo, video, or meme displaying your celebration, tweet it using #RETIK and tags, and email the link to giveaway@retik.com. In this contest, 25 creative winners will get $200 each, honoring Retik Finance’s presale achievements.

Shiba Inu Gains Momentum

Meme coin Shiba Inu has also been performing well in 2024. SHIB gained around 150% in February, reaching highs above $0.000024. This represented a 2-year peak for the Dogecoin spinoff. Although SHIB has pulled back around 9% from its recent highs, trading volume has declined faster – typically a sign of underlying solid confidence. The resurgence in Doge-themed meme coins has partly driven SHIB’s rally. Additionally, the Shiba Inu burn rate has increased rapidly – reducing the overall token supply. With these tailwinds, analysts forecast that SHIB could rise another 50% to $0.000030 soon.

The Bottom Line

While Dogecoin has seen renewed upside in early 2024, metrics indicate its rally may be losing steam. Without more tweets from Elon Musk, it’s uncertain if DOGE can replicate its epic 2021 gains. Meanwhile, Retik Finance and Shiba Inu have already far outpaced DOGE this year. With real-world utility like debit cards and payment gateways, Retik is particularly attracting investor interest and positioning itself as a better long-term bet than DOGE.

Click Here To Take Part In Retik Finance Presale

Visit the links below for more information about Retik Finance (RETIK):