A crypto expert that a lot of people pay attention to thinks that Elon Musk will cause a big move in Dogecoin (DOGE) after he finishes rebranding Twitter.
According to 594,000 of his Twitter followers who go by the pseudonym Kaleo, analyst Elon Musk will likely soon add Dogecoin to the well-liked social media platform.
Kaleo thinks that Elon Musk will announce plans to add DOGE to the social media platform in the next few weeks. This is similar to reports from earlier this year.
“If I had to guess, Elon takes another few days, maybe even another few weeks to actually say how he plans on integrating DOGE into X. I think there’s a solid chance he actually does something this time though, and him including it in his bio at the same time as the X rebrand isn’t just a coincidence.”
Kaleo also says that the Dogecoin against Bitcoin (DOGE/BTC) chart looks bullish now that a long downward support has been broken. In the short run, he says that the Dogecoin market is likely to go through a small correction before it starts going up again.
“In the meantime, Dogecoin cools off a bit and catches up with the blood we’re seeing across the rest of the market. Why? People are impatient and they want immediate results. Rumors and hope only holds up for so long in a bear market.
So, I think it’s a pretty solid move to continue to accumulate on any dips we get from here. The charts continue to look great, and should even after a minor correction.
Kaleo thinks that DOGE will finally go back up to $0.10 and even higher.
“I’ve been encouraging accumulating DOGE in this range for months now. I still think it’s a good place to add. By the time it finally has its move back to $0.10-plus, it’ll happen fast, and the entire timeline will say it was obvious in retrospect.”
At the time of this writing, Dogecoin is worth $0.0774, which is a 4.9% increase over the last 24 hours.
