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Dogecoin (DOGE) price trails along with the major cryptocurrency and altcoin markets in terms of market capitalization. A recent court ruling regarding Ripple's lawsuit in the US is that XRP is not a security in some cases. DOGE hit a monthly high this Saturday, July 15th and is now trading at $0.07327 per coin. The price of this coin has increased by 21.92% in the last 30 days.
By looking at the CoinMarketCap crypto community, you can get a dose price forecast at the end of the month. This community has been able to predict 85.43% of Dogecoin's month-end price over the past six months. On July 15, out of 286 votes, DOGE was projected to trade at an average of $0.0822. This suggests an upside of around 12% from the current price over the next two weeks.
Forecasting the price path of any currency (or stock, for that matter) is a tricky business. Investors need to take many things into consideration, as often the index can be misleading and inadequate. However, when it comes to the CoinMarketCap community poll, the accuracy of 85.43% gives confidence that this can be a very strong indicator. Despite this impressive history, it is important to remember that past performance does not guarantee future results. Other factors that may affect the future value of DOGE should also be considered.
Doge, the most profitable memecoin on the market?
By July 2023, Dogecoin had become the most popular and profitable memecoin on the market, backed by a loyal community that included comic fans, savvy businessmen, and big-name investors like billionaire Elon Musk. Despite its criticism, Dogecoin has managed to attract the largest number of investors in its history with its impressive performance. Currently ranked as the 9th largest cryptocurrency by CoinMarketCap, DOGE's market capitalization exceeds $10 billion. The monthly price chart growth shows that the month of July is positive for this crypto asset.
This memecoin has shown high volatility in the past, capable of high price swings in short periods of time. Elon Musk has been accused of inflating DOGE's value through public actions such as tweets suggesting his Twitter logo is a shiba inu dog, the cryptocurrency's symbol, or Dogecoin. The current surge comes amid positive sentiment in the crypto market, with investors holding high hopes for altcoins, especially after a US court ruled in favor of the SEC vs. Ripple case.
As Bitcoin's dominance falls below 50% of the total market cap on CoinMarketCap, most altcoins have rallied after focusing on Bitcoin's price performance. Musk is positioning Dogecoin as a legitimate contender for market leader and an alternative to traditional currencies. In December 2021 and January 2022, DOGE toyed with the idea of acquiring products for Tesla with significant price increases. Dogecoin, despite its level of virtualization, was originally intended to be a more accessible digital currency than Bitcoin, a direction that Musk strongly supports.
Does Dogecoin have competitors?
The world of cryptocurrency is constantly evolving, with new projects emerging every week. Experienced investors believe that investing their money in these tokens will give them a strategic advantage and thus generate huge returns in the future. These investors have the opportunity to purchase tokens at a discount during the pre-sale before they are listed on an exchange. If the project is successful, these early backers can reap huge profits quickly.
A question that is often asked is whether there is a serious competitor to popular meme coins like Doze, which is backed by none other than the legendary Elon Musk.
Turns out, maybe there is. Currently creating a lot of buzz in the market is a new cryptocurrency known as Wall Street Memes, which uniquely combines the worlds of business and pop culture. This cryptocurrency offering offers an innovative platform that combines meme-based content and sophisticated financial tools, bringing a breath of fresh air to the investment space.
The main goal of this cryptocurrency is to create a community that uses the virality of Internet memes to ironically solve traditional financial problems. This project is a profitable proposition that appeals to a wide audience looking for a different, non-traditional entry point to the market. Depending on its innovative strategy, Wall Street Memes has the potential to shake up the market with its catchy humor.
What makes this project stand out is a series of catchy internet memes featuring popular movie characters like Wall Street's Gordon Gekko. It is interesting to note that the Gecko legend quote "Greed is good" has stuck in the community.
For those looking to optimize the Wall Street meme's earnings potential, the pre-sale period offers the perfect opportunity. By joining early, investors can position themselves as early backers of the project and reap huge profits.
WSM's most recent pre-sale record reached $13 million. The pre-sale cap is set at $30,577,000. Enthusiasts consider the project to be one of the largest commemorative coins since the inception of the stock exchange.
You can browse the Wall Street Meme pre-sale here.
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