Dogecoin in 2023: Will Elon Musk Support Take it ‘To The Moon’?

According to its official site, Dogecoin (DOGE) has an unofficial tagline: ‘Do Only Good Everyday,’ as the “Dogecoin community cares about supporting each other, being kind, teaching people about cryptocurrency, fundraising, having fun, making memes, and also being absurd.”

Dogecoin entered the world in Dec. 2013, from then the coin pushed hard to reach at least $1. While in the monthly-meet, the board of members discuss issues related to Dogecoin. At where the board of advisors are Dogecoin Founder Billy Markus, its project core developer Max Keller, Ethereum founder Vitalik Buterin, and Tesla king Elon Musk as represented by the Head of the Musk’s Family Office, Jared Birchall.

The use case of Dogecoin is primarily seen as a tipping system on social media sites Reddit and Twitter to reward the creation or sharing of quality content. Also, there are some companies that currently accept Dogecoin payments like Tesla, AMC Theaters, GameStop, arBaltic, Dallas Mavericks, EasyDNS, Newegg and Twitch.

Dogecoin & Elon Musk

Dogecoin’s performance from 2013 to mid of 2021, can be said as “non-performing.” Because there was no big movement seen during that period. But, when Mr. Musk began tweeting about Dogecoin in 2019, it kickstarter a furious DOGE rally. Following the price surge, the meme coin has recorded its all time high on May 8, 2021 at the price of $0.7376.

Here are some tweets by Elon Musk that represent his support for Dogecoin.

“Dogecoin Song: To The Moon”

SpaceX launching satellite Doge-1 to the moon next year

– Mission paid for in Doge
– 1st crypto in space
– 1st meme in space

To the mooooonnn!!https://t.co/xXfjGZVeUW

— Elon Musk (@elonmusk) May 9, 2021

Tesla & SpaceX accepting ‘Dogecoin’

Tesla merch can be bought with Doge, soon SpaceX merch too

— Elon Musk (@elonmusk) May 27, 2022

His recent tweet wishing everyone a Merry Christmas was accompanied by images of three dogs. However, there was not any price movement in DOGE after Musk’s tweet.

Dogecoin Price Prediction 2023

The first meme coin, Dogecoin, will perform in between the price range of $0.13 to $0.16 in 2023. This nine year old meme coin is struggling to reach at the level of $1 throughout its journey in the crypto world. And still seems like it needs more time to reach at that price or nearby that.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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