Dogecoin Price Soars on Elon Musk’s Denial of Crypto Plans
• Elon Musk recently took to Twitter to definitively deny plans of his company “X” creating a cryptocurrency token.
• This news sparked a 2% surge in Dogecoin, which is currently trading at $0.0752 with a positive sentiment despite a 10% dip in trading volume.
• Expert analysts predict that the DOGE rally could reach as high as $0.1 in the short term.
Elon Musk Denies “X” Token Plans
In a surprising and categorical announcement, tech visionary Elon Musk put to rest speculations about his company “X” venturing into the world of digital currencies by tweeting that they would never create a cryptocurrency token now or in the future.
Dogecoin Price Soars
The news had an immediate and significant impact on the price of Dogecoin (DOGE), sparking a 2% surge in its value within just one hour after Musk’s tweet. Dogecoin currently trades at $0.0752 with a positive sentiment despite a 10% dip in trading volume.
Bullish Predictions
Michael van de Poppe, an expert analyst in the crypto space, remains bullish on Dogecoin’s short-term prospects and predicts that it could rally towards $0.1 soon.
Fraudulent Tokens Claims
Despite recent debates within the crypto community and claims of fraudulent tokens linked to “X” and Twitter, Musk clarified that his company has no intentions of creating any such tokens now or ever before.
Conclusion
With no plans for an X-token imminent, investors have their sights set on Dogecoin whose value continues to rise despite slight dips in trading volumes due to its strong market sentiment. Analysts expect this trend to continue as DOGE rallies towards $0