Dogecoin price prediction remains bullish above the $0.1200 level, which is being extended by 38.2% Fibonacci retracements. Since Elon Musk acquired control of Twitter a month ago, Dogecoin has been one of the top-performing cryptocurrencies.
Dogecoin is up 116.3% against the dollar in the last two weeks, putting it in the eighth position of all cryptocurrencies on the market. On November 6, the DOGE/USD pair started the day at $0.1244, reaching a peak of $0.1257 and falling to a low of $0.1219.
Staff Sued Tweeter
Elon Musk’s acquisition of Twitter, as well as indications that Dogecoin will be accepted as payment, has done wonders for the meme coin’s valuation in the last week.
Musk’s actions and statements have regularly influenced the price of the well-known meme currency. Tesla CEO and billionaire entrepreneur Elon Musk have been a vocal supporter of the token.
Employees at Twitter, on the other hand, have sued Elon Musk for failing to give them advance notice of planned mass layoffs. Elon Musk’s decision to post 3,700 jobs on Twitter prompted a lawsuit against the social media platform.
According to the workers, the company is breaking federal and California laws by not providing adequate notice. Staff filed a class action lawsuit in federal court in San Francisco on November 3.
To ensure the safety of each employee, as well as Twitter systems and customer data, the company will temporarily lock down its offices and disable worker badge access, according to the company.
Employees claimed they were abruptly restricted to email and other communication tools such as Slack. They claimed that computers were remotely logged out and their data was erased.
Staff in London reported losing access overnight and being unable to log in on November 4. A Twitter lawsuit has recently become public, and it may result in a new DOGE crash.
Revolut Launches Crypto Card
Revolut, a well-known British neobank, has launched a new feature that allows customers to convert their credit or debit cards into cryptocurrency cards. To set it up, customers can select an existing card from their account or create a new one.
Revolut will give its customers 1% cash back in digital assets if they make a purchase with one of the nearly 100 supported tokens, which include Bitcoin, Dogecoin, and Ethereum.
Customers will be reimbursed in the same currency as the transaction. If they spend Dogecoin, for example, they will receive 1% cash back in Dogecoin. As the challenger bank Revolut prepares to launch a crypto card in the UK, Dogecoin will soon be accepted as payment for everyday items.
It will increase Dogecoin’s utility. As a result, this news may increase the demand for and price of DIGE/USD.
Dogecoin Price & Tokenomics
Dogecoin’s current price is $0.1235, with a 24-hour trading volume of $1.3 billion. In the last 24 hours, Dogecoin has dropped over 5% and CoinMarketCap now ranks #8 with a live market cap of $16 billion. The circulation supply is 132,670,764,300 DOGE coins.
From a technical perspective, Dogecoin has completed a 38.2% Fibonacci retracement and is presently trading above $0.1200. A decline below this level may allow for more selling until the next support level of $0.1085.
In the event of further selling pressure, DOGE might fall lower to a 61.8% Fibonacci retracement line at $0.0979.
DOGE has the chance to recover above the $0.1200 support zone because the MACD and RSI are still in a buying zone and the 50-day moving average is supporting the uptrend.
DOGE’s significant resistance levels remain around $0.1400 and $0.1590 on the upside.
The Dash 2 Trade presale has raised over $5.2 million, and the project team has confirmed that its D2T token will be launched on LBank Exchange. These achievements came just over two weeks following the start of its public token sale, suggesting a high level of investor interest in its trading intelligence platform.
Because Twitter is being sued, the DOGE may incur more harm. As a result, using the alternative currency in your portfolio makes sense.