Dogecoin (CRYPTO: DOGE) has announced big features in the last day of buying and selling. The Impress cryptocurrency token is up 14.6% in the last 24 hours as of 18:15 CET on Friday. In the meantime, Bitcoin once increased by 1.6% in the entire segment and Ethereum changed to a one-time 5%.
The crypto market saw an upswing in the last day of acquisitions and sales, nevertheless there may be additionally a well-known catalyst, specifically the coin, for Dogecoin functions. Traders are betting that X’s modern asset map will be launched soon and that Dogecoin will be included in the platform.
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Will Dogecoin Take Advantage of Elon Musk’s Modern Fund Map?
X, the social media platform formerly known as Twitter, has indicated plans to launch a price processing platform this twelve months. The company owns it Tesla CEO Elon Musk, who has been Dogecoin’s most vocal supporter.
Just now, the leaked source code, allegedly from X’s modern stack service, has been modified to once posted online by MacRumors. While there is no legitimate indication as to whether or not the code is actually coming from the upcoming fund platform, the alleged leak has increased excitement about the service and the cryptocurrencies it is likely to support.
There is no obvious indication at this level whether Dogecoin will be integrated into the X fund network or not. But that hasn’t stopped the rise of the popular meme coin.
What’s next for Dogecoin?
Dogecoin is currently the most valued meme coin in the world. With a market capitalization of about $56.5 billion, it stands head and shoulders above the crowd of same-class tokens. In addition, it ranks as the seventh best cryptocurrency in the world by market capitalization.
As a token essentially capable of speculative investment and an interest rate mechanism, Dogecoin’s valuation is carefully linked to adoption trends and overall market momentum. If X’s asset map were to integrate the token, as truth is one of the many well-known supported cryptocurrencies, it should also open the door for large valuation features.
Elon Musk has already proven to be more powerful for the token and such a scenario is a real possibility. Given the charges, investors can also quietly move forward knowing that there are no longer any guarantees that Dogecoin will be supported on X’s compliant platform — and the token remains a volatile and highly speculative play.
Do you need to invest $1000 in Dogecoin right away?
Before holding Dogecoin stocks, consider this:
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Keith Noonan has no narrative in any of the stocks mentioned. The Motley Fool has and recommends positions in Bitcoin, Ethereum, and Tesla. The Motley Fool has disclosure protections.
The views and opinions expressed herein are those of the author and no longer reflect the opinions of Nasdaq, Inc.
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