Dogecoin, the popular meme cryptocurrency, has experienced a minor price jump of 0.5% in the past hour, maintaining its value at approximately $0.06. Despite this, the crypto’s performance still lags behind other major tokens.
Dogecoin is underperforming compared to other major tokens such as BTC, ETH, XRP, and SOL. The meme cryptocurrency has seen a decline of 2.5% in the past week and month, and a 13.5% decrease since the start of the year.
Despite this, the Dogecoin community remains hopeful for a potential integration with X (formerly Twitter), which could trigger a new bull run. The cryptocurrency has been oversold for quite some time and the market has undervalued it for several months, as indicated by DOGE’s 30-day moving average.
However, Dogecoin’s medium-term support level hasn’t risen significantly in recent weeks, suggesting more losses could occur before a recovery takes place. While the past hour’s gain hints at a potential market shift, there’s no substantial news or developments that would instigate a buying frenzy.
The only notable news is Elon Musk’s response to a tweet from DogeDesigner, who proposed that X/Twitter retire the birdhouse icon representing the social network’s homepage. This interaction, however, is hardly significant unless Musk’s engagement with the Dogecoin community is considered indicative of his ongoing support and potential integration plans with X.
Considering X’s recent acquisition of money transmitter licenses, the introduction of DOGE payments could cause the token’s value to skyrocket. However, there’s no clear indication that X will prioritize introducing crypto payments or that DOGE will take precedence over other cryptocurrencies.
As an alternative, traders might consider diversifying into new altcoins, such as TG.Casino (TGC), an Ethereum-based casino that uses Telegram and cryptocurrency to revolutionize online gambling.
The presale of TGC, which began last week, has already raised over $220,000. Its unique Telegram presence, blockchain-based gaming ecosystem, and variety of games offer an innovative approach to online gambling, making it a potentially appealing investment opportunity.
Following the presale, TGC tokens will sell for $0.125 each. Given the coin’s fundamentals, a significant rally could occur once the sale concludes and the coin lists on exchanges.
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