Could $100 in Dogecoin make you a millionaire if Ilon Musk’s prediction turns out to be true?

1 mēneša ago 0 29

According to statistics, the success of certain digital assets directly depends on the community. Cryptocurrencies that enjoy serious support from market participants can claim rapid development and great success. Conversely, when demand decreases, many coins lose value or disappear altogether.

Also, the undeniable influence on the growth of virtual currency is Ilon Musk. For example, on July 17, he published a post with just one word – Doges. As a result, Dogecoin rose in price by 3% in just a couple of hours. The article talks not only about the future prospects of Dogecoin, but also about Wall Street Memes, which attracted the attention of the public.

3 reasons why Wall Street Memes may outgrow Dogecoin

Wall Street Memes is a crypto project that will appeal to retail traders and meme enthusiasts, as the team aims to offer everyone the opportunity to make big profits. For this purpose, the developers created a special coin – WSM. According to many analysts, this token can surpass other successful altcoins such as Dogecoin and Shiba Inu.

Wall Street Memes already has an impressive army of fans for two reasons – relevant and high-quality memes, as well as previous experience of issuing Web3 assets. The creators of this coin are responsible for developing a collection of 10,000 NFT – Wall St Bulls. The 2021 images sold out in 30 minutes.

It is expected that a large community of one million followers across all social networks can create unprecedented excitement around the token once trading begins. In addition, Ilon Musk has repeatedly exchanged comments with the Wall Street Memes Twitter account.

A big plus for the project is its tokenomics. 50% of the coins (1 billion) can already be bought in the current pre-sale. The presale is divided into 30 stages, and at the time of writing, 26 stages are already underway. With this approach, the team wants to offer the earliest investors and loyal fans the opportunity to make high profits before the start of trading on exchanges. The remaining 20% will be used for listings on crypto platforms, while 30% is reserved for community rewards.

ByBit

5020 $
bonus for new users!

9.8

VISIT Read Review

ByBit provides convenient and safe conditions for cryptocurrency trading, offers low commissions, high level of liquidity and modern tools for market analysis. It supports spot and leveraged trading, and helps beginners and professional traders with an intuitive interface and tutorials.

Binance

Earn a 100 $ bonus

for new users!

9.5

VISIT Read Review

The largest crypto exchange where you can quickly and safely start your journey in the world of cryptocurrencies. The platform offers hundreds of popular assets, low commissions and advanced tools for trading and investing. Easy registration, high speed of transactions and reliable protection of funds make Binance a great choice for traders of any level!

Special attention experts pay special attention to the fact that the team gives the community full power over the cryptocurrency. The developers sell all 100% of WSM, leaving no reserve for themselves.

Placement on a decentralized exchange is already scheduled for the 4th quarter of 2023. If the speed of presale continues to increase, the project may indeed enter the official trading platforms in the near future.

Wall Street Memes raised more than $18.8 million at the Wall Street presale, and this amount continues to grow. You can purchase the meme coin on the official website of the project at the current cost of $0.0325. However, the coin will grow in price until it reaches the presale maximum of $0.0337.

As the statistics shows, meme-coins are currently in high demand. This is easily explained by their affordability and the prospects of a sharp increase in price once they are listed. For this reason, the general interest in such assets is expected to be another catalyst for WSM growth.

Pros:

The project is being developed by a professional team with experience in creating successful crypto assets.
Traders can join the free WSM cryptocurrency giveaway through the Wall Street Memes website.
Meme Coin backed by more than a million followers on social networks.

Dogecoin price forecast by Ilon Musk

The history of the interaction between Ilon Musk and Dogecoin started back in 2021. Since then, the meme coin has repeatedly increased in value after each post of the entrepreneur in the social network Twitter.

Today, however, analysts agree that Musk’s influence on the meme coin is starting to wane. The reason for this was the entrepreneur’s recent legal battle with Evan Spencer. The latter spoke in defense of the interests of the owners of the popular cryptocurrency. They accused Musk of making multimillion-dollar profits on speculation around meme-coin.

The counterargument was the message of the team of lawyers of Ilon Musk. It says that he does not own the cryptocurrency wallets presented in court.

Not surprisingly, against the backdrop of such a conflict meme-coin DOGE first began to lose in value. However, at the time of writing, the coin again began to show gradual growth and reached the level of $0.06927. Moreover, it takes the 9th place in the top of the information portal CoinMarketCap.

Due to all the recent developments, which also include the replacement of the Twitter logo with the Dogecoin logo, it is difficult to predict what awaits the coin next.

It is believed that the meme-coin will show a gradual development with the onset of the bullish trend. If the market situation turns out to be favorable, DOGE will manage to reach the maximum value of $0.103889 by the end of this year. In 2024, we can expect further growth to the level of $0.17, and in 2025 – to $0.24.

How do Musk’s actions affect the cryptocurrency market?

Every time, the famous entrepreneur has a direct impact on the development of cryptocurrencies. Specialists notice that it is enough for him to mention this or that token just once to cause a significant price fluctuation. Most investors always look forward to news from Musk, as they realize the power of his influence on the general mood of the market.

As mentioned earlier, a few days ago, Ilon Musk left a succinct entry in his account – Doges. This was his answer to one of the users’ question about whether the billionaire favors cats or dogs. This tweet caused a great excitement and even a short-term sharp rise in the price of DOGE. It is reported that Dogecoin tokens went up by a total of 3% last Monday and were selling for $0.073 for a while. By the way, at the time of writing, the price of one DOGE is $0.06914.

On the background of this event, many analysts decide to share their vision of further growth of the popular meme-coin. For example, Ali Martinez published in his Twitter account information about Dogecoin’s imminent breakthrough. He claims that the coin has every chance to grow in value by almost 10% and thus overcome the $0.75 figure. Moreover, under favorable circumstances, the token can continue to increase in value and reach the level of $0.85.

Market participants are well aware of the influence of Ilon Musk on the future of cryptocurrencies, so they try not to miss the promising coin. Meanwhile, the new Wall Street Memes project has already managed to attract the attention of the billionaire. Experts assume that his comments under the group’s memes on Twitter will have a positive impact on the future of the project’s own token WSM.

Wrapping up

Based on statistics, these or those statements of such large media personalities as Ilon Musk are able to have a direct impact on the development of cryptocurrencies. Moreover, it is important to realize that this can be both positive and negative price dynamics.

For example, there is every reason to believe that the pace of Wall Street Memes pre-sale mentioned in the article continues to increase precisely because of Musk’s comments. However, at the same time, the famous Dogecoin has not shown significant price movement.

Specialists recommend a potential buyer to be cautious and conscientious when choosing suitable assets for investment. His decision should be conditioned by thorough research if he does not want to lose his savings.

Is there a mistake in the text? Highlight it with your mouse and press Ctrl + Enter

Author: Saifedean Ammous, an expert in cryptocurrency economics.