Dogecoin is the future as it saw a double-digit price spike over the weekend after Tesla CEO Elon Musk suggested that he would create his own smartphone amid his feud also called "Dogedaddy's Feud" with tech giant Apple. The market saw this ludicrous idea as a potentially positive sign for future Dogecoin adoption. In Elon Musk vs Apple, dogecoin price gain is the end result?
As Reported by U.Today, the price of the most popular meme coin shed its weekend gains on Monday, with profit-taking likely thwarting the meme coin's renewed momentum. Dogecoin experienced a wild rally shortly after Elon Musk finalized the acquisition of Twitter. However, it fizzled out relatively quickly, and the largest meme coin is still down 85.74% from its lifetime peak.
According to data provided by coin ranking site CoinMarketCap, Dogecoin is currently the best-performing cryptocurrency within the top 10. It is also the third best-performing cryptocurrency within the 100 (behind only Fantom and Chainlink).
Twitter owner Elon Musk on Monday opened fire against Apple over its tight control of what is allowed on the App Store, saying the iPhone maker has threatened to oust his recently acquired social media platform.
Musk also joined the chorus crying foul over a 30 percent fee Apple collects on transactions via its App Store — the sole gateway for applications to get onto its billion plus mobile devices.
A series of tweets fired off by Musk included a meme of a car with his first name on it veering onto a highway off-ramp labeled "Go to War," instead of continuing onwards towards "Pay 30%."
The billionaire CEO also tweeted that Apple has "threatened to withhold Twitter from its App Store, but won't tell us why."
Crypto traders may be thinking that it's finally time to buy Dogecoin again, after a nice uptick in value over the last few weeks. Dogecoin has become the subject of routine price spikes. Musk's tweets reach his 100 million followers on Twitter, with many of them following to hear his views on the crypto market's current condition.
Most notably, Dogecoin grew by 15% when Musk announced that his company, Tesla, would accept DOGE as a valid currency for merchandise. Since Musk is now the CEO of Twitter, crypto enthusiasts have speculated whether the same trend could occur if Musk accepts DOGE as a valid currency for tipping content creators on Twitter. Experts predict that Dogecoin could be expected to increase in value by about 200% between the end of this year and 2025. Then, it would be expected to increase by about another 513% between 2025 and 2030. Those certainly would be welcome returns for any investor, but there are some red flags to pay attention to.
First, while climbing above $1 seemed like a foregone conclusion for Dogecoin just a year ago, it seems like a far-fetched goal at this point. The meme coin has dropped so far in value that it would need to overcome enormous obstacles to bounce back. Even with Elon Musk owning Twitter now, it seems unlikely that his influence would do much to change the value that much.
In conclusion, Dogedaddy's Feud will definitely help Dogecoin to reach new heights in the future.
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