In our crypto news today, we expect the Doge to double in November.
The news of the DOGE price hike was the first cryptocurrency news, especially since Elon Musk’s acquisition of Twitter.
After Elon Musk’s acquisition of Twitter, Dogecoin is in a speculative turmoil as Doge coin is expected to double in value, although no plans have been announced by Twitter to use the meme coin yet.
Doge Coin expected to double in November
Dogecoin (DOGE) emerged as the overall winner among the largest cryptocurrencies in the industry last month and nearly doubled in price during this period, and the price of Doge coin is expected to double this month.
The news that the Doji is expected to double in value is bolstered by the news that Elon Musk completed a $44 billion deal to acquire social network Twitter last week, with the meme’s value reaching $0.1277 today, a level not seen since May 2022.
According to CoinGecko data, this represents a significant increase in value of 117% in the past two weeks and up to 107% in the last 30 days.
The recent rally has also helped Dogecoin overtake Cardano (ADA) to become the industry’s eighth-largest asset with a market capitalization of $16.4 billion, with DOGE currently surpassing ADA by nearly $2 billion.
Looking at how cryptocurrencies with a market capitalization of over $5 billion have performed in the past month, Ethereum (ETH), which ranked second, is far behind DOGE, up 18% over the period.
Cryptocurrency prices soared in early November
Other notable gains over the past month included Polygon, Binance Coin (BNB), and Avalanche (AVAX), which rose by 17%, 14% and 11%, respectively.
The popular Shiba Inu Meme (SHIB) has gained 12% over the past month, while Bitcoin (BTC), which is currently trading at around $20,390, has gained only a modest .8% over the same period.
Dogecoin is known as Musk’s favorite cryptocurrency, so expectations of a Doge coin price doubling are on the rise.
The meme became popular after Elon Musk supported it in a series of tweets last year, even calling it the next big thing.
The Tesla chief also jokingly referred to himself as Dogefather, and his tweets influenced the price action of Dogecoin, helping to push the cryptocurrency to an all-time high of $0.67 in May 2021.
In May, shortly after he publicly announced his interest in buying Twitter, Musk suggested that the social media platform could become a kind of superlative like China’s WeChat.
This could mean integrating payments into the platform, a prospect that interests Dogecoin enthusiasts.
However, five days after buying Twitter, Musk has yet to hint at what role the meme coin could play in the newly acquired social media platform, leaving plenty of room for speculation and price volatility, and he expects Doge coin to double in value. time. point this month.