Elon Musk no longer affects the growth of the Dogecoin cryptocurrency

The host of the cryptocurrency analytical YouTube channel VisionPulsed said that the $ 2 target for the Dogecoin meme DOGE $0.12 Dogecoin -0.40% Market capitalization $17.8 billion VOL. 24 hours $33.87 million is «reasonable for the next bull rally.» The analyst noted that the potential growth of the main meme asset no longer depends on Elon Musk.

VisionPulsed explained that the expected growth will affect Dogecoin’s market capitalization, which could rise to $ 250−300 billion. According to the crypto blogger, the popularity of DOGE «will play an important role in bringing the meme coin to the top.» He compared Dogecoin’s projected market capitalization to that of XRP, which is estimated at $ 500 billion, with the XRP $0.47 XRP 0.68% Market capitalization $26.41 billion VOL. 24 hours $36.19 million token projected at $ 10.

After analyzing historical data, VisionPulsed noted that during the previous rally, Dogecoin experienced a 40-fold increase after a 700% rise in the previous bull trend.

The crypto blogger predicted that Dogecoin will rise to $ 2 before another 90% drop begins. He also noted that the next drop would be longer than the previous one.

At the time of writing, DOGE is trading at $ 0.08 with a market capitalization of $ 11.8 billion. Traders made daily trading deals worth

In late October, a major cryptocurrency owner suddenly lost 5.3 million Dogecoin tokens after 10 years of inactivity.

The last time the address DGZHPYtsBnrkDJeYXJcW6FFrtJWwu1oJ1R was active was in 2013. It was then that Біллі Маркус" href="https://noworries.news/biography/billi-markus/" data-bio-id="3704">Billy Marcus and Jackson Palmer created the Dogecoin meme token. It is believed that the sudden activity of old addresses is a bad sign. According to analysts, the whale coming out of hibernation may indicate the upcoming sale of a large number of tokens. However, in some cases, owners simply move digital assets to other addresses and continue to store them.