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Analyst Predicts the Future of Dogecoin and XRP! Says XRP Price Will Pump the Hardest!

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The top 100 altcoins showing massive gain indicating that the cryptocurrency market is in “Altseason.” Ether, ADA, Doge, and Ethereum Classic have all surpassed their previous highs. Several large-cap tokens hit multi-year highs this week, but Bitcoin’s price has struggled to hold on to any of the week’s news-driven increases.

The recent surge in altcoins has caused Bitcoin’s market share to dwindle in recent weeks. Analysts believe this is yet another sign that the Altcoin season has arrived.

Dogecoin (DOGE) and XRP Price Poised For Massive Gains

Alex Saunders, a cryptocurrency researcher, is keeping an eye on Dogecoin (DOGE) and XRP Price, predicting that both will make significant changes in the near future. The analyst who predicted Bitcoin’s drop from $58,000 to under $45,000 in February has sent an alert to all DOGE holders.

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In an interview with Ticker News, Saunders discusses how Elon Musk’s hosting of the famous US sketch show Saturday Night Live would affect Dogecoin’s price.

He says that Elon Musk is one of the people who has often tweeted about Dogecoin. He’ll be on Saturday Night Live, which is a huge show in America, and there’s been a lot of rumours that he’ll talk about Dogecoin, and there’s even a joke going around that says,

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 “Dogecoin To A Dollar.”

He continued to say that it all started when Dogecoin was a couple of cents, and now it has reached $0.60 something or $0.70, which is amazing. It’s currently encased in a bubble. It will pop, but I wouldn’t be shocked if it’s a sell-the-news thing, so we could hit a dollar, but he believes it will pop before Saturday Night Live, which everyone is anticipating and hyping.

Although Saunders believes Dogecoin will fall in value, he believes the asset has gained some credibility in the media as a result of Shark Tank star and Mavericks owner Mark Cuban embracing DOGE payments at his team’s events and online shop.

Despite the fact that DOGE is still regarded as a joke by crypto enthusiasts, Saunders believes that he is mistaken and that it will have some staying power in society.

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When it comes to how the Dogecoin craze could affect other common crypto assets, Saunders believes that XRP is due for a huge surge due to retail-led trading.

And Still 100% To Go To Previous ATH..‘The Same Retail Money That’s Chasing DOGE Will Soon Chase XRP. It’s That 1 Time Every 4 Years I Believe XRP Has A Good Chance To Pump The Hardest.’”

 

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Dogecoin

Elon Musk Will Always Have Support of DOGE Community: Major Dogecoin Account

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Owner of one of major Dogecoin Twitter accounts has promised that Elon Musk’s support to Dogecoin and its community will be mutually beneficial

Dogecoin account @itsALLrisky with over 183,000 followers has tweeted that the support given to Dogecoin by the Tesla CEO Elon Musk will not go unnoticed by the community.

The Twitter user referred to it as “a mutually beneficial relationship” and has promised that the community of the most popular meme coin will always support Elon Musk.

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He posted a picture of Boris Vallejo featuring Atlantis holding the Earth. The titan has Elon Musk’s face and there’s a Shiba Inu Doge character standing behind, offering his help.

Earlier this week, Elon Musk stressed the importance of making DOGE fees drop and supported the idea of the AMC cinema giant adopting Dogecoin for payments.

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Mapping how Dogecoin can make it in the big leagues

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While Dogecoin is still considered a meme coin by many, the premise of that joke is the apparent lack of use cases. Even so, yesterday’s news did fuel some sort of hope for Dogecoin fans.

Could this be the moment that puts DOGE on the map in the big leagues? Might this be the moment Dogecoin, the “joke crypto,” finally grows up and makes it big? 

DOGEing its way up

A few days ago, AMC Theatres CRO Adam Aron conducted a poll to discuss the possibility of the theatre chain accepting DOGE for payments. Not surprisingly, 77% of the 140k voters were in support. Additionally, the DOGEfather pitched in as well and said that DOGE needs to reduce the transaction fees for the system to be viable. 

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This is true since the average fee right now is around $0.5 and even peaked at $1.3, earlier last month. The transaction fees, at the moment, are higher than the price of 1 DOGE itself, trading at $0.2.

Dogecoin average transaction fees | Source: BitcoinInfoCharts

What’s more, even though the network is capable of processing 40 transactions per second and conducts transactions worth more than $1 billion every day, it’s lacking in participation. Presently, less than 6.5% of all the addresses hold any balance. 

Dogecoin total addresses vs those with balance |

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Source: Intotheblock – AMBCrypto

Plus, a rise in investors is observed usually when DOGE is in the news or hyped because of some reason or the other. However, it soon loses that traction.

This is apparent when the UTXOs are looked at. This week alone, UTXOs for less than a day rose from 0.45% to 5.94%. On the contrary, the same for between 1 day to 1 month fell by 7.5%.

Dogecoin UTXO age bands | Source: Intotheblock – AMBCrypto

Is this behavior common?

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As a matter of fact, it is. As previously mentioned, DOGE picks up strength in moments of hype. And, this can be observed from the data obtained from social behavior as well. Social volumes were low until the AMC announcement, following which, they suddenly spiked on the charts.

Similarly, Twitter users spiked to a 2 month-high over the same period, before eventually dropping once again. 

Dogecoin social users | Source: Santiment – AMBCrypto

Ergo, for some real value to pump in, this pattern needs to be changed.

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Of late, DOGE has also seen an increase in long-term holders. That is good for the crypto’s price. However, its velocity needs to increase as well to support daily use, especially since it has been dormant since the end of July.

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Webcams Site, BongaCams, Becomes Next Major Player to Accept Dogecoin

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The success and popularity of the cryptocurrency asset, Dogecoin, continues to trend upward as BongaCams has just become the next on a growing list of market-leading companies announcing their adoption of the digital currency as a payment option. Dogecoin, now the world’s 8th largest digital asset, is surging once again and continues to enjoy support from investors and celebrities alike, including Tesla CEO Elon Musk, who has tweeted favorable comments about the currency on multiple occasions, even calling Dogecoin the “future currency of Earth.” 

BongaCams, the biggest webcam site on the web, and recipient of multiple industry awards, has formally announced that they will be the next major name to begin accepting Dogecoin. BongaCams has built a reputation for being closely aligned to the needs of their customers and the company has made extensive efforts to provide an accessibility experience that is fast, easy, and comfortable.  When it came to offering payment options that customers wanted BongaCams couldn’t ignore all that DogeCoin had to offer in terms of fast and anonymous payment options for their customers, and broad market acceptance.

And what’s not to love about Dogecoin?  After soaring 15,000% in value and reaching a market cap of $88 billion, the cryptocurrency has built one of the largest and most active communities in the cryptocurrency world and is now considered a great alternative for payment options. Dogecoin’s popularity along with the abundant praise from research analysts who expect the ascent to continue have helped Dogecoin succeed where other cryptocurrency coins have struggled. 

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For those interested in using Dogecoin as a payment option – BongaCams offers wide array of helpful resources and exchange services with instructions on how to easily purchase Dogecoin online.

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