The price of Dogecoin (DOGE) has seen a 1.5% increase in the past 24 hours, reaching $0.073251. This comes as the cryptocurrency market also gains by a similar percentage. While DOGE’s trading volume has risen steadily to $250 million, it is still down 9% over the last 30 days. This increase in trading volume suggests that the momentum is slowly building again for DOGE, which could lead to a rally in the coming days.
One long-term prospect that continues to galvanize the DOGE community is the potential for DOGE payments on Twitter. However, this may end up being nothing more than an expensive daydream, as Twitter’s reported plans involve the launch of digital payments in fiat currency initially. Despite this, the possibility of DOGE payments on Twitter cannot be ruled out entirely, thanks to the support and holdings of Elon Musk.
In the meantime, DOGE holders are witnessing a rise in transactions on its blockchain. This rise in usage may point to a future in which Dogecoin gains some actual utility, such as with the new DRC-20 token standard for minting Dogecoin-based NFTs (Doginals). However, this could also just be a passing fad that fades away in time.
With an integration like DOGE payments on Twitter potentially taking months or even years to happen, it is advisable for traders to diversify their portfolios and explore other altcoins for short- and medium-term gains. Some of these high-potential altcoins include new meme tokens and a few promising presale tokens.
For example, SpongeBob (SPONGE), an Ethereum-based altcoin, has seen gains of over 1,000% since listing directly on Uniswap on May 4. Its price has been propelled by growing community interest and listings on exchanges like Gate.io, Poloniex, MEXC, and LBANK. Additionally, Copium (COPIUM), another meme token that listed on Uniswap more recently, has gained by as much as 650%.
One token that is in its presale phase is AiDoge, an AI-powered meme-generating platform with its $AI token. The platform leverages AI algorithms and large datasets to produce memes based on user-descriptions and rankings. The $AI token could have genuine utility and, as a result, surge once it lists on exchanges in the coming weeks.
While the future of DOGE remains uncertain, investments in other altcoins and new tokens could be a wise move for traders. As the market continues to develop, it will be fascinating to watch DOGE’s progress and the rise of other cryptocurrencies.
Source: Cryptonews
