Elon Musk, CEO of Twitter, and Vitalik Buterin, co-founder of Ethereum, are expected to work together to strengthen Dogecoin (DOGE), according to Gokhshtein Media CEO David Erik, who expressed his opinion through Twitter.
Additionally, David was also confident that these two crypto industry titans would not collaborate on Bitcoin:
They won’t work on #Bitcoin — well because Vitalik tried that in the past and was kicked and Elon is interested in turning something that started off as a joke into something serious.
Musk’s long-standing association with the cryptocurrency, which he frequently mentions in tweets and has accepted as a means of payment for some of the goods and services Musk’s businesses provide, may be based largely on Dogecoin’s surge in popularity.
The Ethereum creator Vitalik Buterin is one of the prominent board members of the Dogecoin Foundation, which also encouraged the currency’s popularity. When Ethereum successfully implemented the much-anticipated Merge update, Buterin suggested that it should be the next cryptocurrency to make a change from Proof of Work.
Additionally, DogecoinFdn (Dogecoin Community) received a contribution of 20 million DOGE from Buterin in November after a donation of 500 ETH in May. DogecoinFdn is an organization with the goal of advancing DOGE via advocacy and development.
Dogecoin Price Analysis
Investors of the popular meme coin DOGE are among the most relaxed under this current bear market. A recent study conducted by Coin Kickoff indicated that despite Bitcoin’s value being down, people are still feeling optimistic about DOGE’s stability in its stead.
Dogecoin (DOGE) lost 0.49% on Thursday and ended the day at $0.0814, reversing all of Wednesday’s gains. The fact that DOGE avoided ending the day below $0.0800 for a second consecutive session is noteworthy.
Today, the bull breaks over the $ 0.0857-second major resistance level, and after doing so, it hits the third major resistance level at $0.0894. However, it is currently trading at $0.08841, on a bullish trend toward growth, with a rise of 11% in the last 24 hours and 3.77% in the previous seven days, as per the data from Coinmarketcap.
There is still more breakthrough potential up to $0.0910. However, Dogecoin must maintain above the 50-day moving average at $0.085 before it can trade bullishly.
Nevertheless, the Dogecoin community on CoinMarketCap predicts that on December 31 of this year, the price will reach $0.096 if the breakout session continues.